FTAI Aviation Ltd (FTAI) stock plunged 14.12% in after-hours trading on Wednesday, extending a sharp sell-off that began during the regular session.

The decline was triggered by the release of the company's second-quarter earnings report after the market close. While the company announced an increase in its dividend to $0.50 per ordinary share, the overall results apparently fell short of market expectations, which had anticipated earnings per share of $1.32. This earnings miss was compounded by a recent price target reduction from RBC Capital Markets, which cut its target to $300 from $350, adding to investor caution.

The stock had already dropped over 5% during the regular trading day as traders braced for the quarterly numbers, and selling intensified once the results were published. The combination of disappointing earnings and the lowered analyst target fueled the after-hours plunge.