Citigroup started coverage on shares of Aircastle (NYSE:AYR) in a research report report published on Friday morning. The firm issued a neutral rating and a $25.00 target price on the transportation company’s stock.
A number of other analysts also recently issued reports on the stock. ValuEngine downgraded shares of Aircastle from a strong-buy rating to a buy rating in a report on Monday, November 6th. Credit Suisse Group lifted their price objective on shares of Aircastle from $25.00 to $26.00 and gave the company a neutral rating in a report on Friday, November 3rd. Cowen reiterated a hold rating and issued a $26.00 price objective on shares of Aircastle in a report on Tuesday, September 12th. BidaskClub downgraded shares of Aircastle from a sell rating to a strong sell rating in a report on Monday, August 14th. Finally, Zacks Investment Research downgraded shares of Aircastle from a hold rating to a sell rating in a report on Monday, August 14th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company. Aircastle has an average rating of Hold and an average price target of $25.00.
Shares of Aircastle (AYR) traded down $0.26 during mid-day trading on Friday, reaching $23.55. 202,644 shares of the company’s stock traded hands, compared to its average volume of 270,648. Aircastle has a 52-week low of $20.50 and a 52-week high of $25.98. The firm has a market cap of $1,874.82, a P/E ratio of 11.08, a P/E/G ratio of 2.01 and a beta of 1.86.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Wednesday, November 29th. This is a boost from Aircastle’s previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a dividend yield of 4.76%. Aircastle’s dividend payout ratio (DPR) is currently 54.90%.
Several large investors have recently added to or reduced their stakes in AYR. Northern Trust Corp grew its stake in shares of Aircastle by 36.0% in the second quarter. Northern Trust Corp now owns 2,021,880 shares of the transportation company’s stock valued at $43,976,000 after buying an additional 535,106 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Aircastle by 8.9% in the second quarter. Dimensional Fund Advisors LP now owns 5,043,557 shares of the transportation company’s stock valued at $109,698,000 after buying an additional 413,818 shares in the last quarter. Citadel Advisors LLC grew its stake in shares of Aircastle by 307.2% in the third quarter. Citadel Advisors LLC now owns 348,637 shares of the transportation company’s stock valued at $7,771,000 after buying an additional 263,014 shares in the last quarter. Dean Capital Management bought a new position in shares of Aircastle in the second quarter valued at $3,578,000. Finally, State Street Corp grew its stake in shares of Aircastle by 6.7% in the second quarter. State Street Corp now owns 1,152,919 shares of the transportation company’s stock valued at $25,075,000 after buying an additional 72,112 shares in the last quarter. 61.59% of the stock is owned by institutional investors and hedge funds.
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Aircastle Company Profile
Aircastle Limited is a holding company. The Company, through its subsidiaries, acquires, leases and sells commercial jet aircrafts to airlines. The Company is engaged in financing and managing commercial flight equipment. The Company manages its aircrafts in the United States, Ireland and Singapore. As of December 31, 2016, the Company owned and managed on behalf of its joint ventures 206 aircrafts leased to 71 lessees located in 36 countries.
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