Air Lease Corp. (AL) Stake Boosted by BTR Capital Management Inc.
BTR Capital Management Inc. raised its position in Air Lease Corp. (NYSE:AL) by 2.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 259,650 shares of the company’s stock after buying an additional 6,150 shares during the period. Air Lease Corp. makes up approximately 1.7% of BTR Capital Management Inc.’s holdings, making the stock its 25th largest position. BTR Capital Management Inc. owned 0.25% of Air Lease Corp. worth $7,421,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the company. LS Investment Advisors LLC purchased a new position in shares of Air Lease Corp. during the second quarter valued at $102,000. Tower Research Capital LLC TRC raised its position in shares of Air Lease Corp. by 761.7% in the second quarter. Tower Research Capital LLC TRC now owns 4,188 shares of the company’s stock valued at $112,000 after buying an additional 3,702 shares during the period. Metropolitan Life Insurance Co. NY raised its position in shares of Air Lease Corp. by 55.1% in the second quarter. Metropolitan Life Insurance Co. NY now owns 5,025 shares of the company’s stock valued at $135,000 after buying an additional 1,786 shares during the period. BlueMountain Capital Management LLC raised its position in shares of Air Lease Corp. by 168.1% in the second quarter. BlueMountain Capital Management LLC now owns 5,134 shares of the company’s stock valued at $137,000 after buying an additional 3,219 shares during the period. Finally, Glenmede Trust Co. NA purchased a new position in shares of Air Lease Corp. during the second quarter valued at $137,000. 90.54% of the stock is currently owned by institutional investors.
Air Lease Corp. (NYSE:AL) traded down 0.81% during trading on Tuesday, reaching $35.71. The company had a trading volume of 444,102 shares. Air Lease Corp. has a 12-month low of $22.47 and a 12-month high of $36.42. The stock has a market cap of $3.67 billion, a P/E ratio of 10.84 and a beta of 1.54. The firm has a 50-day moving average price of $31.79 and a 200 day moving average price of $29.25.
Air Lease Corp. (NYSE:AL) last released its quarterly earnings data on Thursday, November 3rd. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.04. Air Lease Corp. had a net margin of 26.09% and a return on equity of 14.83%. The business earned $355.10 million during the quarter, compared to analyst estimates of $356.47 million. During the same quarter in the previous year, the business earned $0.71 EPS. Air Lease Corp.’s quarterly revenue was up 13.4% compared to the same quarter last year. Equities research analysts predict that Air Lease Corp. will post $3.42 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 9th. Investors of record on Monday, December 12th will be paid a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 0.84%. The ex-dividend date is Thursday, December 8th. This is a positive change from Air Lease Corp.’s previous quarterly dividend of $0.05. Air Lease Corp.’s payout ratio is presently 6.08%.
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Several research analysts have commented on AL shares. FBR & Co reissued a “buy” rating and issued a $35.00 price objective on shares of Air Lease Corp. in a research report on Monday, September 19th. Stephens started coverage on Air Lease Corp. in a research report on Tuesday, November 1st. They issued an “overweight” rating and a $48.00 price objective on the stock. Finally, Zacks Investment Research lowered Air Lease Corp. from a “hold” rating to a “sell” rating in a research report on Monday, October 10th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $45.94.
In related news, Director Robert A. Milton sold 30,000 shares of Air Lease Corp. stock in a transaction on Tuesday, November 8th. The shares were sold at an average price of $31.73, for a total value of $951,900.00. Following the completion of the sale, the director now owns 30,889 shares of the company’s stock, valued at approximately $980,107.97. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 9.45% of the stock is currently owned by corporate insiders.
Air Lease Corp. 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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