Tower Research Capital LLC TRC Has $112,000 Position in Air Lease Corp. (AL)
Tower Research Capital LLC TRC boosted its stake in shares of Air Lease Corp. (NYSE:AL) by 761.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,188 shares of the company’s stock after buying an additional 3,702 shares during the period. Tower Research Capital LLC TRC’s holdings in Air Lease Corp. were worth $112,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of AL. Teachers Advisors Inc. increased its position in shares of Air Lease Corp. by 51.6% in the first quarter. Teachers Advisors Inc. now owns 125,769 shares of the company’s stock valued at $4,040,000 after buying an additional 42,821 shares in the last quarter. Prudential Financial Inc. increased its position in Air Lease Corp. by 369.3% in the first quarter. Prudential Financial Inc. now owns 352,899 shares of the company’s stock valued at $11,335,000 after buying an additional 277,700 shares during the period. BlackRock Group LTD increased its position in Air Lease Corp. by 2.0% in the first quarter. BlackRock Group LTD now owns 129,009 shares of the company’s stock valued at $4,143,000 after buying an additional 2,502 shares during the period. State Street Corp increased its position in Air Lease Corp. by 1.9% in the first quarter. State Street Corp now owns 1,094,692 shares of the company’s stock valued at $35,160,000 after buying an additional 20,554 shares during the period. Finally, Quadrature Capital Ltd increased its position in Air Lease Corp. by 0.9% in the first quarter. Quadrature Capital Ltd now owns 14,900 shares of the company’s stock valued at $479,000 after buying an additional 130 shares during the period. 91.53% of the stock is currently owned by institutional investors and hedge funds.
Air Lease Corp. (NYSE:AL) opened at 28.33 on Friday. The firm’s 50-day moving average is $28.65 and its 200-day moving average is $29.12. Air Lease Corp. has a 52-week low of $22.47 and a 52-week high of $35.22. The company has a market cap of $2.91 billion, a PE ratio of 9.00 and a beta of 1.59.
Air Lease Corp. (NYSE:AL) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.84 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.02. Air Lease Corp. had a return on equity of 14.72% and a net margin of 25.70%. The firm had revenue of $350.10 million for the quarter, compared to analyst estimates of $349.19 million. During the same quarter in the prior year, the company posted $0.70 earnings per share. Air Lease Corp.’s quarterly revenue was up 14.9% on a year-over-year basis. On average, equities research analysts anticipate that Air Lease Corp. will post $3.39 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 6th. Investors of record on Monday, September 12th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date of this dividend was Thursday, September 8th. Air Lease Corp.’s dividend payout ratio is presently 6.37%.
Several research firms have recently commented on AL. Zacks Investment Research downgraded shares of Air Lease Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, August 10th. FBR & Co reissued an “outperform” rating and issued a $40.00 target price on shares of Air Lease Corp. in a report on Tuesday, June 21st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $44.44.
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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