Air Lease Corp (NYSE:AL) declared a quarterly dividend on Friday, May 10th, Wall Street Journal reports. Shareholders of record on Wednesday, June 5th will be paid a dividend of 0.13 per share by the transportation company on Thursday, July 11th. This represents a $0.52 annualized dividend and a yield of 1.34%. The ex-dividend date of this dividend is Tuesday, June 4th.
Air Lease has raised its dividend payment by an average of 35.7% per year over the last three years and has raised its dividend annually for the last 5 consecutive years. Air Lease has a payout ratio of 11.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Air Lease to earn $6.69 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 7.8%.
NYSE AL traded up $0.76 during trading on Friday, hitting $38.90. 1,507,264 shares of the company’s stock were exchanged, compared to its average volume of 937,786. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 2.40. The company has a market cap of $4.26 billion, a price-to-earnings ratio of 8.49, a PEG ratio of 0.96 and a beta of 2.04. Air Lease has a fifty-two week low of $28.13 and a fifty-two week high of $47.34.
Several research analysts have commented on the company. Zacks Investment Research downgraded Air Lease from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. ValuEngine raised Air Lease from a “strong sell” rating to a “sell” rating in a research note on Thursday, April 11th. Goldman Sachs Group assumed coverage on Air Lease in a research note on Monday, April 8th. They set a “buy” rating and a $52.00 target price for the company. Finally, TheStreet raised Air Lease from a “c+” rating to a “b-” rating in a research note on Wednesday, January 30th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $55.56.
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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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