This Undervalued High Dividend Stock Has Triple-Digit Income Growth And Yields Over 6%

Have you looked at airline profits lately? They're booming, thanks to increased cargo and tourist traffic and cheaper fuel. Take a look at this chart from IATA:(Source: IATA website)We wrote an article about this week's focus stock, Fly Leasing Ltd. (NYSE: FLY), in January 2015. Since then, it has been trouncing the market, but don't worry, it still looks undervalued, as we'll show later in this article. (There are several charts and illustrations in that previous article, which also help flesh out the story on this stock.)Profile: FLY Leasing Limited, together with its subsidiaries, engages in purchasing and leasing commercial aircraft under multi-year contracts to various airlines worldwide.As of December 31, 2014, its aircraft portfolio consisted of 127 commercial jet aircraft, including 116 narrow-body passenger aircraft and 11 wide-body passenger aircraft. The company was founded in 2007 and is headquartered in Dun Laoghaire, Ireland.(Source: FLY website)FLY's fleet is serviced and managed by BBAM, whose President and CEO, Steve Zissis, had this to say on FLY's May Q1 2015 earnings call: "Global airlines achieved actual profits of $19 billion in 2014. For this year, airlines have forecasted to achieve even stronger profits of $25 billion. These increased profits are giving airlines more confidence to grow and conduct fleet planning farther into the future. This equates to increased interest for leased aircraft and at longer-term commitments. This is... Read more