Air Lease Corp (AL) EVP Jie Chen Sells 30,000 Shares
Air Lease Corp (NYSE:AL) EVP Jie Chen sold 30,000 shares of the company’s stock in a transaction on Thursday, March 16th. The stock was sold at an average price of $39.14, for a total transaction of $1,174,200.00. Following the completion of the transaction, the executive vice president now directly owns 280,341 shares of the company’s stock, valued at approximately $10,972,546.74. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.
Air Lease Corp (NYSE:AL) traded down 1.281% on Monday, hitting $38.599. 251,443 shares of the company’s stock traded hands. Air Lease Corp has a one year low of $24.49 and a one year high of $40.24. The stock has a market cap of $3.97 billion, a PE ratio of 11.234 and a beta of 1.60. The stock has a 50-day moving average of $38.47 and a 200-day moving average of $33.92.
Air Lease Corp (NYSE:AL) last issued its earnings results on Thursday, February 23rd. The company reported $0.89 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.03. Air Lease Corp had a net margin of 26.09% and a return on equity of 14.83%. The firm earned $370.50 million during the quarter, compared to analysts’ expectations of $360.63 million. During the same quarter last year, the company posted $1.21 earnings per share. The firm’s revenue was up 13.4% compared to the same quarter last year. On average, equities analysts forecast that Air Lease Corp will post $3.68 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 7th. Investors of record on Monday, March 20th will be issued a dividend of $0.075 per share. The ex-dividend date of this dividend is Thursday, March 16th. This represents a $0.30 annualized dividend and a dividend yield of 0.77%. Air Lease Corp’s dividend payout ratio (DPR) is presently 9.12%.
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Several hedge funds and other institutional investors have recently modified their holdings of AL. Advisor Group Inc. boosted its position in shares of Air Lease Corp by 179.2% in the third quarter. Advisor Group Inc. now owns 4,196 shares of the company’s stock valued at $120,000 after buying an additional 2,693 shares during the period. Dreman Value Management L L C acquired a new position in shares of Air Lease Corp during the third quarter valued at about $160,000. Mogy Joel R Investment Counsel Inc. acquired a new position in shares of Air Lease Corp during the third quarter valued at about $203,000. Pacer Advisors Inc. boosted its position in shares of Air Lease Corp by 9.1% in the third quarter. Pacer Advisors Inc. now owns 7,324 shares of the company’s stock valued at $209,000 after buying an additional 612 shares during the period. Finally, Janus Capital Management LLC acquired a new position in shares of Air Lease Corp during the fourth quarter valued at about $209,000. 90.06% of the stock is owned by hedge funds and other institutional investors.
Several brokerages recently weighed in on AL. TheStreet raised shares of Air Lease Corp from a “hold” rating to a “buy” rating in a report on Tuesday, November 29th. Zacks Investment Research downgraded shares of Air Lease Corp from a “strong-buy” rating to a “hold” rating in a report on Monday, February 27th. Cowen and Company upped their target price on shares of Air Lease Corp from $37.00 to $41.00 and gave the stock an “outperform” rating in a report on Friday, February 24th. FBR & Co increased their price objective on shares of Air Lease Corp from $36.00 to $40.00 and gave the company an “outperform” rating in a report on Tuesday, November 22nd. Finally, Compass Point began coverage on shares of Air Lease Corp in a report on Wednesday, January 4th. They set a “buy” rating and a $46.00 price objective for the company. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Air Lease Corp currently has an average rating of “Buy” and a consensus price target of $50.00.
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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