Greenland Capital Management LP Purchases New Position in Air Lease Corporation $AL

Greenland Capital Management LP acquired a new position in Air Lease Corporation (NYSE:AL) in the 2nd quarter, HoldingsChannel.com reports. The fund acquired 29,000 shares of the transportation company’s stock, valued at approximately $1,696,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of AL. Victory Capital Management Inc. grew its position in shares of Air Lease by 82.0% in the first quarter. Victory Capital Management Inc. now owns 98,214 shares of the transportation company’s stock valued at $4,745,000 after purchasing an additional 44,259 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Air Lease during the 1st quarter valued at about $3,607,000. Journey Strategic Wealth LLC purchased a new position in Air Lease during the 1st quarter valued at about $277,000. Cetera Investment Advisers increased its position in shares of Air Lease by 31.3% during the first quarter. Cetera Investment Advisers now owns 19,831 shares of the transportation company’s stock valued at $958,000 after buying an additional 4,725 shares during the period. Finally, Neo Ivy Capital Management purchased a new stake in Air Lease in the 1st quarter worth approximately $1,347,000. Institutional investors own 94.59% of the company’s stock.

Analyst Ratings Changes

AL has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Air Lease in a research report on Wednesday, October 8th. TD Cowen cut shares of Air Lease from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 3rd. Cowen lowered shares of Air Lease from a “buy” rating to a “hold” rating in a research report on Wednesday, September 3rd. Zacks Research cut shares of Air Lease from a “hold” rating to a “strong sell” rating in a research report on Wednesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Air Lease from a “buy” rating to a “hold” rating and set a $65.00 target price for the company. in a research report on Wednesday, September 3rd. Five research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Air Lease presently has a consensus rating of “Hold” and an average price target of $60.29.

Air Lease Trading Up 0.0%

AL stock opened at $63.71 on Wednesday. The company has a market capitalization of $7.12 billion, a PE ratio of 7.73, a price-to-earnings-growth ratio of 0.66 and a beta of 1.36. The company has a debt-to-equity ratio of 2.47, a quick ratio of 0.42 and a current ratio of 0.42. Air Lease Corporation has a one year low of $38.25 and a one year high of $64.30. The company’s 50 day moving average price is $63.65 and its two-hundred day moving average price is $59.82.

Air Lease (NYSE:AL) last posted its quarterly earnings results on Monday, November 3rd. The transportation company reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.13. The business had revenue of $725.39 million for the quarter, compared to analyst estimates of $744.59 million. Air Lease had a return on equity of 7.99% and a net margin of 34.04%.Air Lease’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period last year, the company earned $0.82 EPS. As a group, analysts predict that Air Lease Corporation will post 5.16 earnings per share for the current fiscal year.

Air Lease Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 8th. Shareholders of record on Thursday, December 4th will be issued a $0.22 dividend. The ex-dividend date is Thursday, December 4th. This represents a $0.88 annualized dividend and a yield of 1.4%. Air Lease’s dividend payout ratio (DPR) is 10.20%.

Insider Transactions at Air Lease

In related news, Director Steven F. Udvar-Hazy sold 1,000 shares of the firm’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $63.92, for a total value of $63,920.00. Following the completion of the sale, the director owned 2,700,000 shares of the company’s stock, valued at $172,584,000. This trade represents a 0.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Gregory B. Willis sold 23,481 shares of the business’s stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $63.83, for a total transaction of $1,498,792.23. Following the transaction, the chief financial officer directly owned 56,408 shares in the company, valued at approximately $3,600,522.64. The trade was a 29.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 78,408 shares of company stock worth $5,002,933. Corporate insiders own 6.64% of the company’s stock.

About Air Lease

Air Lease Corporation, an aircraft leasing company, engages in the purchase and leasing of commercial jet aircraft to airlines worldwide. It sells aircraft from its fleet to third parties, including other leasing companies, financial services companies, airlines, and other investors. The company provides fleet management services to investors and owners of aircraft portfolios.