American International Group Inc. bought a new stake in shares of Aircastle Limited (NYSE:AYR) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 32,058 shares of the transportation company’s stock, valued at approximately $750,000.
Other large investors also recently modified their holdings of the company. Baker Ellis Asset Management LLC acquired a new stake in shares of Aircastle during the 4th quarter valued at $106,000. Zions Bancorporation acquired a new stake in shares of Aircastle during the 3rd quarter valued at $111,000. Kayne Anderson Capital Advisors LP acquired a new stake in shares of Aircastle during the 3rd quarter valued at $207,000. SG Americas Securities LLC boosted its stake in shares of Aircastle by 98.5% during the 3rd quarter. SG Americas Securities LLC now owns 11,026 shares of the transportation company’s stock valued at $246,000 after buying an additional 5,471 shares during the period. Finally, Capital Fund Management S.A. acquired a new stake in shares of Aircastle during the 4th quarter valued at $323,000. 61.36% of the stock is owned by institutional investors.
A number of brokerages have issued reports on AYR. Stephens raised shares of Aircastle from an “underweight” rating to an “equal” rating and set a $24.00 target price for the company in a research note on Wednesday, February 14th. They noted that the move was a valuation call. Cowen reissued a “market perform” rating and set a $24.00 target price (down previously from $26.00) on shares of Aircastle in a research note on Tuesday, February 13th. Royal Bank of Canada reissued a “hold” rating on shares of Aircastle in a research note on Wednesday, February 14th. Zacks Investment Research downgraded shares of Aircastle from a “hold” rating to a “strong sell” rating in a report on Friday, February 16th. Finally, JPMorgan Chase & Co. cut their price target on shares of Aircastle from $25.00 to $24.00 and set a “neutral” rating on the stock in a report on Tuesday, March 6th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company’s stock. Aircastle has an average rating of “Hold” and a consensus target price of $24.60.
Aircastle (NYSE:AYR) last released its quarterly earnings results on Tuesday, February 13th. The transportation company reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. The business had revenue of $177.40 million for the quarter, compared to the consensus estimate of $184.09 million. Aircastle had a net margin of 18.56% and a return on equity of 8.41%. Aircastle’s revenue for the quarter was down 13.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.90 EPS. equities analysts forecast that Aircastle Limited will post 1.7 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Wednesday, February 28th will be issued a dividend of $0.28 per share. The ex-dividend date is Tuesday, February 27th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 5.65%. Aircastle’s dividend payout ratio is currently 60.87%.
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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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