California Public Employees Retirement System raised its stake in Aircastle Limited (NYSE:AYR) by 5.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 209,131 shares of the transportation company’s stock after buying an additional 10,311 shares during the quarter. California Public Employees Retirement System owned about 0.27% of Aircastle worth $4,892,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Dimensional Fund Advisors LP lifted its position in Aircastle by 3.6% in the third quarter. Dimensional Fund Advisors LP now owns 5,224,849 shares of the transportation company’s stock valued at $116,461,000 after buying an additional 181,292 shares during the last quarter. State Street Corp increased its stake in Aircastle by 6.7% during the second quarter. State Street Corp now owns 1,152,919 shares of the transportation company’s stock worth $25,075,000 after purchasing an additional 72,112 shares during the period. Foundry Partners LLC increased its stake in Aircastle by 3.3% during the fourth quarter. Foundry Partners LLC now owns 744,790 shares of the transportation company’s stock worth $17,421,000 after purchasing an additional 23,743 shares during the period. Goodnow Investment Group LLC increased its stake in Aircastle by 2.1% during the third quarter. Goodnow Investment Group LLC now owns 723,218 shares of the transportation company’s stock worth $16,121,000 after purchasing an additional 14,653 shares during the period. Finally, Wedge Capital Management L L P NC increased its stake in Aircastle by 3.0% during the fourth quarter. Wedge Capital Management L L P NC now owns 507,082 shares of the transportation company’s stock worth $11,861,000 after purchasing an additional 14,582 shares during the period. 61.55% of the stock is currently owned by institutional investors.
Shares of Aircastle Limited (AYR) opened at $19.83 on Tuesday. Aircastle Limited has a one year low of $18.97 and a one year high of $25.30. The firm has a market cap of $1,560.95, a P/E ratio of 9.97, a P/E/G ratio of 1.17 and a beta of 1.87.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Wednesday, February 28th will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Tuesday, February 27th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 5.65%. Aircastle’s payout ratio is 59.57%.
A number of analysts have issued reports on AYR shares. Stephens upgraded shares of Aircastle from an “underweight” rating to an “equal” rating and set a $24.00 price target on the stock in a research note on Wednesday, February 14th. They noted that the move was a valuation call. Royal Bank of Canada reiterated a “hold” rating on shares of Aircastle in a research note on Wednesday, February 14th. Cowen reiterated a “market perform” rating and set a $24.00 price target (down from $26.00) on shares of Aircastle in a research note on Tuesday, February 13th. Citigroup started coverage on shares of Aircastle in a research note on Friday, December 8th. They set a “neutral” rating and a $25.00 price target on the stock. 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 research note on Tuesday, March 6th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $24.60.
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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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