Air Lease Corporation (NYSE:AL) Shares Bought by Daiwa Securities Group Inc.
Daiwa Securities Group Inc. boosted its stake in shares of Air Lease Corporation (NYSE:AL) by 1.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 129,748 shares of the transportation company’s stock after buying an additional 1,800 shares during the period. Daiwa Securities Group Inc. owned 0.13% of Air Lease Corporation worth $4,847,000 as of its most recent filing with the SEC.
Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Air Lease Corporation during the fourth quarter worth approximately $14,466,000. Quadrature Capital Ltd bought a new position in shares of Air Lease Corporation during the fourth quarter worth approximately $376,000. Teachers Advisors LLC boosted its position in shares of Air Lease Corporation by 1.9% in the fourth quarter. Teachers Advisors LLC now owns 96,734 shares of the transportation company’s stock worth $3,321,000 after buying an additional 1,850 shares during the period. Denali Advisors LLC boosted its position 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 worth $1,422,000 after buying an additional 32,700 shares during the period. Finally, Chesley Taft & Associates LLC bought a new position in shares of Air Lease Corporation during the first quarter worth approximately $314,000. Institutional investors and hedge funds own 91.84% of the company’s stock.
Air Lease Corporation (AL) opened at 42.56 on Monday. The stock has a market cap of $4.39 billion, a PE ratio of 12.67 and a beta of 1.78. The company’s 50-day moving average price is $38.43 and its 200-day moving average price is $37.86. Air Lease Corporation has a 12-month low of $27.05 and a 12-month high of $42.57.
Air Lease Corporation (NYSE:AL) last posted its quarterly earnings results on Thursday, August 3rd. The transportation company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.84 by $0.08. Air Lease Corporation had a return on equity of 10.99% and a net margin of 25.64%. The firm had revenue of $380.59 million during the quarter, compared to analysts’ expectations of $375.14 million. During the same quarter last year, the firm earned $1.39 earnings per share. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. On average, equities analysts expect that Air Lease Corporation will post $3.42 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 6th. Investors of record on Wednesday, September 13th will be given a $0.075 dividend. The ex-dividend date of this dividend is Tuesday, September 12th. This represents a $0.30 annualized dividend and a yield of 0.70%. Air Lease Corporation’s payout ratio is 8.70%.
A number of equities analysts have recently commented on AL shares. FBR & Co dropped their target price on Air Lease Corporation from $47.00 to $45.00 and set an “outperform” rating for the company in a report on Friday, May 5th. Royal Bank Of Canada reiterated a “buy” rating on shares of Air Lease Corporation in a report on Friday, May 5th. Zacks Investment Research cut Air Lease Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, May 30th. ValuEngine upgraded Air Lease Corporation from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 10th. Finally, Morgan Stanley lifted their target price on Air Lease Corporation from $40.00 to $42.00 in a report on Tuesday, July 4th. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $45.43.
In related news, EVP Kishore Korde sold 2,000 shares of the stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $38.00, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Grant A. Levy sold 27,854 shares of the stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $38.16, for a total value of $1,062,908.64. Following the completion of the transaction, the executive vice president now owns 210,824 shares of the company’s stock, valued at $8,045,043.84. The disclosure for this sale can be found here. Corporate insiders own 9.76% of the company’s stock.
Air Lease Corporation 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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