Sky Harbour Group Corp. Class A (SKYH)

In the past six months (April to October 2025), several events have impacted SKYH's stock price. Sky Harbour Group Corporation reported a Q2 loss and lagged revenue estimates in August 2025. Around the same time, analysts expressed belief that the stock could rally, with some suggesting a potential upside of over 70%, however, Zacks Research downgraded Sky Harbour Group from a "strong-buy" to a "hold" rating in August 2025. Management changes were also announced in August 2025. In September 2025, Sky Harbour announced the closing of a $200 million tax-exempt warehouse drawdown committed bank facility with J.P. Morgan. This was followed by an announcement in October 2025 of an interest rate swap on this facility, locking in a 4.73% fixed rate. Also in October 2025, the company announced the development of a new hangar campus at Long Beach, California (LGB). Analyst sentiment saw an upgrade from B. Riley to a "strong-buy" rating in October 2025, and BTIG initiated coverage with a "Buy" rating and a $13 price target. Despite these positive developments, consensus EPS estimates fell by 63% in October 2025, though the forecast breakeven date was moved forward to 2025 in August 2025. Insider selling by various officers was also reported in April and May 2025.

Demand for Sky Harbour Group Corp.'s products and services, primarily private aviation hangars, is generally high and often exceeds supply. The company's business model is designed to address this imbalance, particularly for high-end tenants and larger aircraft that require more space and specialized facilities. The private jet fleet in the United States has been growing, leading to a premium on hangar space and long waiting lists at some airports. The company's focus on long-term leasing agreements for its home-basing solutions helps to create a stable revenue stream, potentially mitigating short-term demand seasonality that might affect transient aircraft services. The demand for private aviation infrastructure is somewhat insulated from typical economic cycles due to its clientele of corporate and high-net-worth individuals.

Sky Harbour Group Corp. (SKYH) develops, leases, and manages general aviation hangars across the United States, offering "Home-Basing Solutions" (HBS) for business aircraft. These campuses feature customizable, state-of-the-art, climate-controlled hangar spaces designed to accommodate various aircraft sizes. Beyond hangar space, the company provides private amenities, enhanced security measures, and dedicated line crews. Sky Harbour's approach integrates real estate development with aviation services, aiming to provide operational flexibility, premium infrastructure, and tailored solutions. The company also engages in aviation infrastructure development to support its hangar campuses and offers long-term leasing solutions.

Sky Harbour focuses on strategic locations near major metropolitan areas with high demand for private aviation facilities across the United States. As of October 2025, Sky Harbour campuses are operating at Dallas Addison Airport (ADS), Denver Centennial Airport (APA), Houston's Sugar Land Regional Airport (SGR), Los Angeles's Camarillo Airport (CMA), Miami Opa-Locka Executive Airport (OPF), Nashville International Airport (BNA), Phoenix Deer Valley Airport (DVT), San Jose Mineta Airport (SJC), and Seattle King County International Airport – Boeing Field (BFI). Campuses are also in development at Chicago Executive Airport (PWK), Bradley International Airport (BDL), Dulles International Airport (IAD), Hillsboro Airport (HIO), Hudson Valley Regional Airport (POU), Orlando Executive Airport (ORL), Salt Lake City International Airport (SLC), Stewart International Airport (SWF), Trenton-Mercer Airport (TTN), and Long Beach, California (LGB). The company aims to expand its portfolio to 23 airports in operation or development by year-end 2025.

In the past year (October 2024 to October 2025), Sky Harbour Group Corp. has generally maintained a positive brand reputation, largely driven by its focus on addressing the demand for premium private aviation infrastructure. The company has received a consensus "Buy" rating from analysts, with an average 1-year target price suggesting significant upside. Announcements of new campus developments and securing substantial financing have contributed positively to its reputation by demonstrating growth and financial stability. While there have been mentions of past challenges like construction delays and cost overruns, management's reported responses indicate efforts to mitigate these issues. The Q2 2025 loss and lagging revenue estimates were noted, but analysts continue to see potential for the company.

Sky Harbour Group Corp. has a mix of institutional, insider, and retail ownership, with a dual-class ownership structure where Class A common stock is publicly traded and Class B common stock is held by founders and early investors, granting them significant voting power. Major individual owners include Alexander Buffett Rozek, who is the largest individual shareholder owning 68.95% of the company's shares, and Boston Omaha Corp. Other notable individual insider shareholders include Nick Wellmon, Alan J. Feldman, and Edward M. Stravinsky. Top institutional holders include BlackRock Fund Advisors, Vanguard, Dimensional Fund Advisors, Tocqueville Asset Management L.P., American Century Companies Inc., Nuveen LLC, Lawson Kroeker Investment Management Inc. NE, Centerpoint Advisors LLC, Caprock Group, Llc, Altai Capital Management, L.P., Bank Of America Corp /De/, Mariner, Llc, State Street Corp., Geode Capital Management, Llc, Kroeker Kenneth W., and Ayal Capital Advisors Ltd. Institutional investors collectively own approximately 14.75% to 19.84% of the company's stock.