Exchange Income Corporation (EIF.TO) is firing back after it fell into the crosshairs of short seller Marc Cohodes.

"[Exchange Income] has become aware of a short and distort campaign aimed at undermining the value of EIC's shares," the company said in a statement Wednesday.

"The short report was deliberately released immediately following the end of the Company's second quarter when EIC is in a quiet period, and is based on a number of statements, assumptions and opinions with which we strenuously disagree."

Cohodes unveiled his short thesis against the Winnipeg-based aviation services, equipment and manufacturing company Wednesday morning; arguing among other things the company's dividend is financed by debt rather than free cash flow.

Cohodes also criticized Exchange Income’s fleet maintenance and dismissed the company's explanation for why first-quarter results missed estimates. 

Exchange Income said on Wednesday it expects to hit consensus estimates this year and will fast-track its second-quarter earnings release to July 24.

Cohodes gained notoriety in Canada for a series of short arguments against TSX-listed companies; most notably, Home Capital Group.

His view on Exchange Income runs counter to the street consensus. Eleven analysts track the stock; nine have Buy recommendations and two have Holds. The average 12-month price target is $44.27. Exchange Income was trading seven per cent lower at $30.41 as of 10:20am ET.