Aircastle (NYSE:AYR) major shareholder Teachers Pension Plan Ontario sold 7,887,029 shares of the business’s stock in a transaction on Friday, May 18th. The stock was sold at an average price of $21.23, for a total value of $167,441,625.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.
Shares of NYSE AYR traded up $0.03 during trading on Friday, reaching $21.15. The company had a trading volume of 1,703,762 shares, compared to its average volume of 531,801. The stock has a market cap of $1.66 billion, a price-to-earnings ratio of 11.31, a price-to-earnings-growth ratio of 1.14 and a beta of 1.84. Aircastle has a twelve month low of $18.97 and a twelve month high of $25.30.
Aircastle (NYSE:AYR) last released its earnings results on Thursday, May 3rd. The transportation company reported $0.72 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.29. The firm had revenue of $202.70 million during the quarter, compared to analyst estimates of $184.73 million. Aircastle had a return on equity of 9.05% and a net margin of 20.50%. The business’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.58 earnings per share. analysts forecast that Aircastle will post 1.85 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 15th. Investors of record on Thursday, May 31st will be paid a $0.28 dividend. The ex-dividend date is Wednesday, May 30th. This represents a $1.12 annualized dividend and a yield of 5.30%. Aircastle’s payout ratio is currently 59.89%.
A number of research firms have recently weighed in on AYR. Zacks Investment Research raised Aircastle from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a report on Monday, May 7th. Deutsche Bank boosted their price target on Aircastle from $23.00 to $24.00 and gave the stock a “hold” rating in a report on Friday, May 4th. Cowen reissued a “market perform” rating and issued a $24.00 price target (down from $26.00) on shares of Aircastle in a report on Tuesday, February 13th. Royal Bank of Canada reissued a “hold” rating on shares of Aircastle in a report on Wednesday, February 14th. Finally, Stephens raised Aircastle from an “underweight” rating to an “equal” rating and set a $24.00 price target for the company in a report on Wednesday, February 14th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $24.33.
A number of institutional investors have recently added to or reduced their stakes in AYR. Citadel Advisors LLC increased its stake in Aircastle by 183.6% in the first quarter. Citadel Advisors LLC now owns 1,051,289 shares of the transportation company’s stock valued at $20,879,000 after purchasing an additional 680,597 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Aircastle by 7.2% in the first quarter. Dimensional Fund Advisors LP now owns 5,991,790 shares of the transportation company’s stock valued at $118,997,000 after purchasing an additional 401,206 shares during the last quarter. Wedge Capital Management L L P NC increased its stake in Aircastle by 64.7% in the first quarter. Wedge Capital Management L L P NC now owns 834,939 shares of the transportation company’s stock valued at $16,582,000 after purchasing an additional 327,857 shares during the last quarter. Bain Capital Credit LP acquired a new position in Aircastle in the first quarter valued at $6,393,000. Finally, Advisors Capital Management LLC acquired a new position in Aircastle in the first quarter valued at $4,687,000. Hedge funds and other institutional investors own 61.91% of the company’s stock.
Aircastle Limited, through its subsidiaries, leases, finances, sells, and manages commercial flight equipment to airlines worldwide. The company also invests in other aviation assets. As of December 31, 2017, its aircraft portfolio comprised 236 aircraft leased to 81 lessees located in 43 countries. Aircastle Limited was founded in 2004 and is based in Stamford, Connecticut.
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