Air Lease Corp (NYSE:AL) EVP Grant A. Levy sold 10,000 shares of the firm’s stock in a transaction dated Friday, March 16th. The stock was sold at an average price of $44.01, for a total transaction of $440,100.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Air Lease Corp (NYSE AL) traded up $0.33 during trading hours on Friday, reaching $44.19. 719,970 shares of the company were exchanged, compared to its average volume of 750,730. Air Lease Corp has a 1-year low of $34.42 and a 1-year high of $50.70. The company has a market capitalization of $4,540.00, a price-to-earnings ratio of 12.11, a price-to-earnings-growth ratio of 0.67 and a beta of 1.73. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 2.35.
Air Lease (NYSE:AL) last released its quarterly earnings results on Thursday, February 22nd. The transportation company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.19. Air Lease had a net margin of 49.87% and a return on equity of 10.91%. The business had revenue of $398.47 million for the quarter, compared to analyst estimates of $380.93 million. During the same period last year, the firm earned $1.48 earnings per share. Air Lease’s revenue for the quarter was up 7.6% compared to the same quarter last year. analysts anticipate that Air Lease Corp will post 4.63 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, April 6th. Shareholders of record on Tuesday, March 20th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.91%. The ex-dividend date of this dividend is Monday, March 19th. Air Lease’s dividend payout ratio is currently 10.96%.
AL has been the subject of a number of research reports. ValuEngine cut shares of Air Lease from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Citigroup initiated coverage on shares of Air Lease in a research note on Friday, December 8th. They set a “neutral” rating and a $46.00 target price for the company. Zacks Investment Research upgraded shares of Air Lease from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a research note on Tuesday, January 9th. UBS restated a “sell” rating and set a $32.00 target price (up previously from $31.00) on shares of Air Lease in a research note on Wednesday, February 21st. Finally, Credit Suisse Group reaffirmed an “outperform” rating and set a $57.00 price target (up from $55.00) on shares of Air Lease in a research report on Friday, February 23rd. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company’s stock. Air Lease has an average rating of “Buy” and an average price target of $52.05.
A number of hedge funds have recently added to or reduced their stakes in the business. Suntrust Banks Inc. increased its holdings in Air Lease by 17.9% in the 4th quarter. Suntrust Banks Inc. now owns 7,625 shares of the transportation company’s stock valued at $366,000 after buying an additional 1,159 shares during the period. Advisory Services Network LLC increased its holdings in Air Lease by 4.9% in the 4th quarter. Advisory Services Network LLC now owns 25,430 shares of the transportation company’s stock valued at $1,223,000 after buying an additional 1,191 shares during the period. UBS Asset Management Americas Inc. increased its holdings in Air Lease by 1.5% in the 4th quarter. UBS Asset Management Americas Inc. now owns 103,767 shares of the transportation company’s stock valued at $4,990,000 after buying an additional 1,521 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Air Lease by 48.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,333 shares of the transportation company’s stock valued at $256,000 after buying an additional 1,734 shares during the period. Finally, Gradient Investments LLC grew its holdings in shares of Air Lease by 20.3% during the 4th quarter. Gradient Investments LLC now owns 11,036 shares of the transportation company’s stock valued at $531,000 after purchasing an additional 1,865 shares during the last quarter. 90.32% of the stock is currently owned by hedge funds and other institutional investors.
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About Air Lease
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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