Air Lease Corp. (NYSE:AL)’s share price gapped up before the market opened on Monday . The stock had previously closed at $26.85, but opened at $27.19. Air Lease Corp. shares last traded at $28.07, with a volume of 469,566 shares.

A number of brokerages have recently issued reports on AL. Zacks Investment Research downgraded Air Lease Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, July 6th. FBR & Co restated an “outperform” rating and set a $40.00 price objective on shares of Air Lease Corp. in a research report on Tuesday, June 21st. TheStreet downgraded Air Lease Corp. from a “buy” rating to a “hold” rating in a research report on Monday, June 13th. Morgan Stanley restated a “buy” rating on shares of Air Lease Corp. in a research report on Sunday, May 22nd. Finally, Credit Suisse Group AG restated a “buy” rating on shares of Air Lease Corp. in a research report on Friday, May 20th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $43.95.

The company’s 50 day moving average price is $27.98 and its 200 day moving average price is $29.12. The stock has a market capitalization of $2.86 billion and a PE ratio of 9.24.

Air Lease Corp. (NYSE:AL) last issued its earnings results on Thursday, May 5th. The company reported $1.38 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.61. The company had revenue of $343.30 million for the quarter, compared to analysts’ expectations of $334.02 million. The company’s revenue was up 23.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.61 earnings per share. Equities analysts expect that Air Lease Corp. will post $3.41 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, July 7th. Investors of record on Monday, June 13th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.72%. The ex-dividend date of this dividend was Thursday, June 9th.

A number of large investors recently modified their holdings of the stock. State Board of Administration of Florida Retirement System boosted its stake in shares of Air Lease Corp. by 0.9% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 113,257 shares of the company’s stock valued at $3,792,000 after buying an additional 990 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of Air Lease Corp. by 2.0% in the fourth quarter. Rhumbline Advisers now owns 69,213 shares of the company’s stock valued at $2,317,000 after buying an additional 1,375 shares in the last quarter. Polaris Capital Management LLC boosted its stake in shares of Air Lease Corp. by 3.6% in the fourth quarter. Polaris Capital Management LLC now owns 43,819 shares of the company’s stock valued at $1,467,000 after buying an additional 1,523 shares in the last quarter. Affinity Investment Advisors LLC boosted its stake in shares of Air Lease Corp. by 6.0% in the fourth quarter. Affinity Investment Advisors LLC now owns 103,300 shares of the company’s stock valued at $3,458,000 after buying an additional 5,870 shares in the last quarter. Finally, Barton Investment Management boosted its stake in shares of Air Lease Corp. by 3.4% in the fourth quarter. Barton Investment Management now owns 388,265 shares of the company’s stock valued at $12,999,000 after buying an additional 12,640 shares in the last quarter.

Air Lease Corporation is an aircraft leasing company. The Company is 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 aircrafts to airlines around the world. In addition to its leasing activities, it sells aircrafts from its operating lease portfolio to third-parties, including other leasing companies, financial services companies and airlines.

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