Opera Trading Capital increased its holdings in shares of Air Lease Corporation (NYSE:AL) by 8.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 123,809 shares of the company’s stock after purchasing an additional 9,709 shares during the quarter. Opera Trading Capital owned approximately 0.12% of Air Lease Corporation worth $5,277,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Zweig DiMenna Associates LLC boosted its position in Air Lease Corporation by 90.4% during the 3rd quarter. Zweig DiMenna Associates LLC now owns 156,913 shares of the company’s stock worth $6,688,000 after buying an additional 74,500 shares during the period. Principal Financial Group Inc. acquired a new position in shares of Air Lease Corporation in the 3rd quarter worth approximately $417,000. Boston Partners lifted its position in shares of Air Lease Corporation by 2.0% in the 3rd quarter. Boston Partners now owns 8,664,181 shares of the company’s stock worth $369,267,000 after purchasing an additional 169,454 shares during the period. Prudential Financial Inc. lifted its position in shares of Air Lease Corporation by 18.9% in the 3rd quarter. Prudential Financial Inc. now owns 255,979 shares of the company’s stock worth $10,910,000 after purchasing an additional 40,769 shares during the period. Finally, Stevens Capital Management LP acquired a new position in shares of Air Lease Corporation in the 3rd quarter worth approximately $3,462,000. Institutional investors and hedge funds own 92.15% of the company’s stock.
A number of research analysts have recently issued reports on AL shares. Royal Bank Of Canada restated a “buy” rating and issued a $80.00 price target on shares of Air Lease Corporation in a research report on Thursday, November 2nd. Bank of America Corporation set a $47.00 price target on shares of Air Lease Corporation and gave the stock a “hold” rating in a research report on Thursday, October 19th. BidaskClub downgraded shares of Air Lease Corporation from a “buy” rating to a “hold” rating in a research report on Friday, August 11th. Zacks Investment Research upgraded shares of Air Lease Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, August 9th. Finally, Cowen and Company boosted their price target on shares of Air Lease Corporation from $41.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, August 4th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of C$48.78.
In other news, EVP Alex A. Khatibi sold 11,000 shares of the company’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of C$40.00, for a total value of C$440,000.00. Following the completion of the sale, the executive vice president now owns 142,786 shares in the company, valued at approximately C$5,711,440. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jie Chen sold 2,000 shares of the company’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of C$43.82, for a total transaction of C$87,640.00. The disclosure for this sale can be found here. Insiders sold a total of 24,562 shares of company stock valued at $1,000,003 in the last quarter. 9.76% of the stock is currently owned by company insiders.
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Air Lease Corporation (NYSE:AL) traded up C$0.85 during trading hours on Monday, hitting C$43.23. 773,600 shares of the stock traded hands, compared to its average volume of 753,907. The company has a market cap of $4,463.07, a price-to-earnings ratio of 12.39, a P/E/G ratio of 1.31 and a beta of 1.83. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 2.53. Air Lease Corporation has a 12 month low of C$32.82 and a 12 month high of C$45.15.
Air Lease Corporation (NYSE:AL) last released its quarterly earnings data on Thursday, November 9th. The company reported C$0.90 earnings per share for the quarter, beating the consensus estimate of C$0.87 by C$0.03. The company had revenue of C$376.77 million during the quarter, compared to analyst estimates of C$374.61 million. Air Lease Corporation had a net margin of 25.67% and a return on equity of 10.87%. Air Lease Corporation’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.43 EPS. equities research analysts anticipate that Air Lease Corporation will post 3.41 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 4th. Stockholders of record on Thursday, December 14th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, December 13th. This represents a $0.40 annualized dividend and a dividend yield of 0.93%. This is a positive change from Air Lease Corporation’s previous quarterly dividend of $0.08. Air Lease Corporation’s payout ratio is currently 8.60%.
Air Lease Corporation 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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