Air Lease Corp (NYSE:AL) announced a quarterly dividend on Thursday, August 8th, Zacks reports. Stockholders of record on Sunday, September 15th will be given a dividend of 0.13 per share by the transportation company on Friday, October 4th. This represents a $0.52 annualized dividend and a dividend yield of 1.21%. The ex-dividend date of this dividend is Thursday, September 12th.
Air Lease has increased its dividend payment by an average of 35.7% annually over the last three years and has increased its dividend annually for the last 5 consecutive years. Air Lease has a payout ratio of 11.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Air Lease to earn $6.47 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 8.0%.
AL stock traded up $0.19 during trading on Tuesday, hitting $43.10. 20,163 shares of the company traded hands, compared to its average volume of 660,652. Air Lease has a 1 year low of $28.13 and a 1 year high of $46.61. The company has a market cap of $4.79 billion, a PE ratio of 9.37, a P/E/G ratio of 0.78 and a beta of 1.92. The stock’s 50-day simple moving average is $40.33 and its 200 day simple moving average is $38.49. The company has a debt-to-equity ratio of 2.43, a current ratio of 0.64 and a quick ratio of 0.64.
AL has been the topic of a number of recent analyst reports. ValuEngine downgraded shares of Air Lease from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Cowen restated an “outperform” rating and set a $49.00 target price (down from $50.00) on shares of Air Lease in a research report on Friday, August 9th. Finally, Zacks Investment Research cut Air Lease from a “hold” rating to a “sell” rating and set a $43.00 target price on the stock. in a research report on Friday, August 2nd. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $47.80.
In related news, Chairman Steven F. Udvar-Hazy sold 5,763 shares of Air Lease stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $38.63, for a total value of $222,624.69. Following the sale, the chairman now directly owns 1,308,378 shares in the company, valued at approximately $50,542,642.14. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Steven F. Udvar-Hazy sold 507,789 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $38.58, for a total value of $19,590,499.62. Following the sale, the insider now owns 1,334,842 shares of the company’s stock, valued at $51,498,204.36. The disclosure for this sale can be found here. Insiders have sold a total of 836,649 shares of company stock worth $32,677,201 in the last quarter. Insiders own 8.76% of the company’s stock.
About Air Lease
Air Lease Corporation, an aircraft leasing company, engages in the purchase and leasing of commercial jet transport aircraft to airlines worldwide. The company also sells aircraft from its operating lease portfolio to third parties, including other leasing companies, financial services companies, and airlines.
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