Vanguard Group Inc. Increases Position in Air Lease Corp. (AL)
Vanguard Group Inc. boosted its stake in shares of Air Lease Corp. (NYSE:AL) by 4.2% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,884,315 shares of the company’s stock after buying an additional 274,550 shares during the period. Vanguard Group Inc. owned 6.69% of Air Lease Corp. worth $184,363,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Royal Bank of Canada increased its stake in shares of Air Lease Corp. by 6.8% in the first quarter. Royal Bank of Canada now owns 1,214,028 shares of the company’s stock valued at $38,994,000 after buying an additional 77,352 shares in the last quarter. Cambiar Investors LLC increased its stake in shares of Air Lease Corp. by 9.5% in the second quarter. Cambiar Investors LLC now owns 1,024,007 shares of the company’s stock valued at $27,423,000 after buying an additional 88,972 shares in the last quarter. AMP Capital Investors Ltd acquired a new stake in shares of Air Lease Corp. during the first quarter valued at about $3,239,000. Teachers Advisors Inc. increased its stake 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. Finally, BlackRock Group LTD increased its stake in shares of 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 in the last quarter. 91.89% of the stock is owned by institutional investors and hedge funds.
Air Lease Corp. (NYSE:AL) opened at 29.17 on Wednesday. The stock’s 50 day moving average price is $28.66 and its 200-day moving average price is $29.02. Air Lease Corp. has a one year low of $22.47 and a one year high of $35.22. The firm has a market cap of $3.00 billion, a price-to-earnings ratio of 9.26 and a beta of 1.59.
Air Lease Corp. (NYSE:AL) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $350.10 million for the quarter, compared to analyst estimates of $349.19 million. During the same period in the previous year, the company posted $0.70 earnings per share. The company’s quarterly revenue was up 14.9% compared to the same quarter last year. Analysts forecast that Air Lease Corp. will post $3.39 earnings per share for the current year.
The business also recently announced 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. The ex-dividend date of this dividend was Thursday, September 8th. This represents a $0.20 annualized dividend and a yield of 0.69%. Air Lease Corp.’s payout ratio is presently 6.37%.
AL has been the subject of several research analyst reports. FBR & Co reissued a “buy” rating and issued a $35.00 price objective on shares of Air Lease Corp. in a research note on Monday, September 19th. Zacks Investment Research raised Air Lease Corp. from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a research note on Wednesday, June 29th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Air Lease Corp. 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.
Receive News & Ratings for Air Lease Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Air Lease Corp. and related companies with MarketBeat.com's FREE daily email newsletter.