Air Lease Corporation (AL) Position Cut by Capital Impact Advisors LLC
Capital Impact Advisors LLC cut its stake in shares of Air Lease Corporation (NYSE:AL) by 27.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 28,501 shares of the transportation company’s stock after selling 10,918 shares during the period. Capital Impact Advisors LLC’s holdings in Air Lease Corporation were worth $1,065,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the stock. Americafirst Capital Management LLC purchased a new stake in shares of Air Lease Corporation during the first quarter valued at $343,000. Graybill Bartz & Assoc Ltd. increased its stake in shares of Air Lease Corporation by 1.8% in the first quarter. Graybill Bartz & Assoc Ltd. now owns 109,334 shares of the transportation company’s stock valued at $4,237,000 after buying an additional 1,890 shares during the period. Bank of Montreal Can increased its stake in shares of Air Lease Corporation by 0.9% in the first quarter. Bank of Montreal Can now owns 3,856 shares of the transportation company’s stock valued at $150,000 after buying an additional 35 shares during the period. Chesley Taft & Associates LLC purchased a new stake in shares of Air Lease Corporation during the first quarter valued at $314,000. Finally, Denali Advisors LLC increased its stake in shares of Air Lease Corporation by 817.5% in the first quarter. Denali Advisors LLC now owns 36,700 shares of the transportation company’s stock valued at $1,422,000 after buying an additional 32,700 shares during the period. Institutional investors own 92.12% of the company’s stock.
Air Lease Corporation (AL) traded down 1.34% during midday trading on Friday, hitting $39.81. 50,611 shares of the stock traded hands. The company has a 50-day moving average price of $38.04 and a 200 day moving average price of $37.59. Air Lease Corporation has a one year low of $27.05 and a one year high of $41.44. The stock has a market cap of $4.11 billion, a price-to-earnings ratio of 11.86 and a beta of 1.78.
The business also recently announced a quarterly dividend, which was paid on Tuesday, July 11th. Investors of record on Wednesday, June 14th were given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date was Monday, June 12th. Air Lease Corporation’s dividend payout ratio (DPR) is 8.90%.
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Several brokerages have weighed in on AL. BidaskClub upgraded shares of Air Lease Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, July 11th. Zacks Investment Research upgraded shares of Air Lease Corporation from a “sell” rating to a “hold” rating in a research note on Monday, July 10th. ValuEngine upgraded shares of Air Lease Corporation from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 10th. FBR & Co lowered their price objective on shares of Air Lease Corporation from $47.00 to $45.00 and set an “outperform” rating for the company in a research note on Friday, May 5th. Finally, Morgan Stanley downgraded shares of Air Lease Corporation from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $40.00 to $42.00 in a research note on Thursday, April 6th. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $44.86.
In related news, EVP Grant A. Levy sold 27,854 shares of the stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $38.16, for a total value of $1,062,908.64. Following the transaction, the executive vice president now directly owns 210,824 shares of the company’s stock, valued at approximately $8,045,043.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Kishore Korde sold 2,000 shares of the stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $38.00, for a total transaction of $76,000.00. Following the completion of the transaction, the executive vice president now directly owns 86,410 shares in the company, valued at $3,283,580. The disclosure for this sale can be found here. Insiders sold a total of 31,854 shares of company stock worth $1,214,909 over the last ninety days. Insiders own 9.76% of the company’s stock.
About Air Lease Corporation
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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