Air Lease Co. (NYSE:AL) Short Interest Up 6.1% in October

Air Lease Co. (NYSE:AL - Get Free Report) was the recipient of a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 3,130,000 shares, a growth of 6.1% from the October 15th total of 2,950,000 shares. Based on an average trading volume of 660,300 shares, the days-to-cover ratio is presently 4.7 days. Approximately 3.0% of the shares of the company are short sold.

Air Lease Price Performance

Shares of NYSE AL traded down $0.26 during trading on Tuesday, hitting $47.98. The company had a trading volume of 155,760 shares, compared to its average volume of 960,961. The stock has a fifty day simple moving average of $44.96 and a two-hundred day simple moving average of $46.12. Air Lease has a fifty-two week low of $37.65 and a fifty-two week high of $52.31. The firm has a market capitalization of $5.34 billion, a price-to-earnings ratio of 10.99, a price-to-earnings-growth ratio of 1.44 and a beta of 1.59. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 2.63.

Air Lease Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Thursday, December 12th will be paid a $0.22 dividend. This is an increase from Air Lease's previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a dividend yield of 1.83%. The ex-dividend date is Thursday, December 12th. Air Lease's dividend payout ratio (DPR) is currently 19.13%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on AL. Barclays cut their price objective on shares of Air Lease from $55.00 to $54.00 and set an "overweight" rating on the stock in a research note on Friday, August 2nd. JPMorgan Chase & Co. raised their price target on shares of Air Lease from $52.00 to $56.00 and gave the company an "overweight" rating in a research report on Tuesday, November 12th. Finally, TD Cowen started coverage on shares of Air Lease in a research report on Monday, July 29th. They set a "buy" rating and a $58.00 price target on the stock. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $55.75.

Hedge Funds Weigh In On Air Lease

Hedge funds and other institutional investors have recently modified their holdings of the business. Eastern Bank purchased a new position in shares of Air Lease in the third quarter worth about $27,000. Altshuler Shaham Ltd purchased a new position in Air Lease during the second quarter worth about $29,000. GAMMA Investing LLC raised its stake in Air Lease by 108.1% during the second quarter. GAMMA Investing LLC now owns 1,201 shares of the transportation company's stock worth $57,000 after purchasing an additional 624 shares during the period. Hilltop National Bank raised its stake in Air Lease by 33.8% during the second quarter. Hilltop National Bank now owns 1,775 shares of the transportation company's stock worth $84,000 after purchasing an additional 448 shares during the period. Finally, Monetary Management Group Inc. purchased a new position in Air Lease during the second quarter worth about $95,000. 94.59% of the stock is owned by hedge funds and other institutional investors.

Air Lease Company Profile

Air Lease Corporation, an aircraft leasing company, engages in the purchase and leasing of commercial jet aircraft to airlines worldwide. It sells aircraft from its fleet to third parties, including other leasing companies, financial services companies, airlines, and other investors. The company provides fleet management services to investors and owners of aircraft portfolios.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.