SLS Management LLC purchased a new position in Air Lease Corporation (NYSE:AL) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 41,100 shares of the transportation company’s stock, valued at approximately $1,535,000. Air Lease Corporation accounts for 1.6% of SLS Management LLC’s holdings, making the stock its 13th largest position.
A number of other hedge funds and other institutional investors have also modified their holdings of AL. BlackRock Inc. increased its position in Air Lease Corporation by 14,924.1% in the 1st quarter. BlackRock Inc. now owns 3,851,727 shares of the transportation company’s stock worth $149,254,000 after buying an additional 3,826,090 shares during the period. Boston Partners increased its position in Air Lease Corporation by 70.7% in the 2nd quarter. Boston Partners now owns 8,494,727 shares of the transportation company’s stock worth $317,363,000 after buying an additional 3,519,693 shares during the period. Vanguard Group Inc. increased its position in Air Lease Corporation by 4.1% in the 1st quarter. Vanguard Group Inc. now owns 7,454,231 shares of the transportation company’s stock worth $288,852,000 after buying an additional 294,544 shares during the period. Los Angeles Capital Management & Equity Research Inc. increased its position in Air Lease Corporation by 1,073.6% in the 1st quarter. Los Angeles Capital Management & Equity Research Inc. now owns 279,676 shares of the transportation company’s stock worth $10,837,000 after buying an additional 255,846 shares during the period. Finally, EJF Capital LLC bought a new position in Air Lease Corporation in the 1st quarter worth approximately $8,126,000. 92.19% of the stock is currently owned by institutional investors.
Shares of Air Lease Corporation (AL) traded up 0.79% during mid-day trading on Tuesday, hitting $40.05. The stock had a trading volume of 139,215 shares. The stock has a market capitalization of $4.13 billion, a P/E ratio of 11.66 and a beta of 1.77. The stock has a 50 day moving average of $40.01 and a 200-day moving average of $38.41. Air Lease Corporation has a 52 week low of $27.05 and a 52 week high of $43.39.
Air Lease Corporation (NYSE:AL) last posted its quarterly earnings data on Thursday, August 3rd. The transportation company reported $0.92 EPS for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.08. Air Lease Corporation had a return on equity of 10.99% and a net margin of 25.64%. The firm had revenue of $380.59 million for the quarter, compared to analyst estimates of $375.14 million. During the same quarter last year, the company earned $1.39 EPS. The company’s revenue was up 8.7% on a year-over-year basis. On average, equities research analysts predict that Air Lease Corporation will post $3.45 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 6th. Shareholders of record on Wednesday, September 13th will be paid a dividend of $0.075 per share. The ex-dividend date of this dividend is Tuesday, September 12th. This represents a $0.30 dividend on an annualized basis and a yield of 0.75%. Air Lease Corporation’s dividend payout ratio (DPR) is presently 8.70%.
AL has been the topic of several recent analyst reports. Morgan Stanley lifted their price target on Air Lease Corporation from $40.00 to $42.00 in a research report on Tuesday, July 4th. Royal Bank Of Canada reissued a “buy” rating on shares of Air Lease Corporation in a report on Monday, May 15th. BidaskClub raised Air Lease Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, July 11th. Zacks Investment Research raised Air Lease Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 10th. Finally, Bank of America Corporation lowered Air Lease Corporation from a “buy” rating to a “neutral” rating and set a $44.00 price objective on the stock. in a report on Wednesday, August 9th. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Air Lease Corporation presently has a consensus rating of “Buy” and an average price target of $45.25.
In other Air Lease Corporation news, EVP Jie Chen sold 10,000 shares of the firm’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $43.00, for a total transaction of $430,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Marc H. Baer sold 7,562 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $39.72, for a total value of $300,362.64. Following the transaction, the executive vice president now owns 132,001 shares in the company, valued at approximately $5,243,079.72. The disclosure for this sale can be found here. 9.76% of the stock is owned by company insiders.
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Air Lease Corporation Company Profile
Air Lease Corporation is an aircraft leasing company. The Company is principally engaged in purchasing new commercial jet transport aircraft directly from aircraft manufacturers, such as The Boeing Company (Boeing) and Airbus SAS. (Airbus), and leasing those aircraft to airlines across the world. Along with its leasing activities, the Company sells aircraft from its operating lease portfolio to third parties, including other leasing companies, financial services companies and airlines.
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