Advisory Services Network LLC Acquires 198 Shares of Air Lease Corporation (AL)
Advisory Services Network LLC raised its holdings in Air Lease Corporation (NYSE:AL) by 0.8% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,589 shares of the transportation company’s stock after purchasing an additional 198 shares during the period. Advisory Services Network LLC’s holdings in Air Lease Corporation were worth $881,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Israel Discount Bank of New York boosted its holdings in Air Lease Corporation by 7.7% in the 2nd quarter. Israel Discount Bank of New York now owns 2,785 shares of the transportation company’s stock valued at $104,000 after purchasing an additional 200 shares during the period. Fiduciary Trust Co. bought a new stake in Air Lease Corporation in the 2nd quarter valued at about $111,000. QS Investors LLC boosted its holdings in Air Lease Corporation by 0.6% in the 2nd quarter. QS Investors LLC now owns 3,464 shares of the transportation company’s stock valued at $129,000 after purchasing an additional 21 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Air Lease Corporation by 10.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,599 shares of the transportation company’s stock valued at $134,000 after purchasing an additional 331 shares during the period. Finally, Advisors Asset Management Inc. boosted its holdings in Air Lease Corporation by 14.5% in the 2nd quarter. Advisors Asset Management Inc. now owns 4,901 shares of the transportation company’s stock valued at $183,000 after purchasing an additional 621 shares during the period. 92.16% of the stock is owned by hedge funds and other institutional investors.
Shares of Air Lease Corporation (NYSE:AL) traded down 0.36% during mid-day trading on Tuesday, hitting $44.40. 124,478 shares of the stock were exchanged. The stock’s 50-day moving average is $41.29 and its 200-day moving average is $38.98. Air Lease Corporation has a 52 week low of $28.16 and a 52 week high of $44.71. The stock has a market capitalization of $4.58 billion, a price-to-earnings ratio of 12.93 and a beta of 1.79.
Air Lease Corporation (NYSE:AL) last released its quarterly earnings data on Thursday, August 3rd. The transportation company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.08. Air Lease Corporation had a net margin of 25.64% and a return on equity of 10.99%. The company had revenue of $380.59 million during the quarter, compared to analyst estimates of $375.14 million. During the same period last year, the business earned $1.39 earnings per share. Air Lease Corporation’s revenue was up 8.7% compared to the same quarter last year. Analysts forecast that Air Lease Corporation will post $3.46 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 6th. Stockholders of record on Wednesday, September 13th were given a $0.075 dividend. The ex-dividend date was Tuesday, September 12th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.67%. Air Lease Corporation’s dividend payout ratio (DPR) is currently 8.70%.
In other news, EVP Marc H. Baer sold 7,562 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $39.72, for a total value of $300,362.64. Following the completion of the transaction, the executive vice president now directly owns 132,001 shares in the company, valued at $5,243,079.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jie Chen sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $43.00, for a total transaction of $172,000.00. The disclosure for this sale can be found here. Insiders sold 32,562 shares of company stock valued at $1,342,363 over the last 90 days. 9.76% of the stock is owned by company insiders.
A number of research firms have issued reports on AL. BidaskClub downgraded shares of Air Lease Corporation from a “buy” rating to a “hold” rating in a report on Friday, August 11th. Bank of America Corporation downgraded shares of Air Lease Corporation from a “buy” rating to a “neutral” rating and set a $44.00 price objective for the company. in a report on Wednesday, August 9th. Zacks Investment Research raised shares of Air Lease Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 10th. Cowen and Company upped their price target on shares of Air Lease Corporation from $41.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, August 4th. Finally, Royal Bank Of Canada upped their price target on shares of Air Lease Corporation from $79.00 to $80.00 and gave the stock a “top pick” rating in a report on Friday, September 29th. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. Air Lease Corporation has a consensus rating of “Buy” and an average target price of $49.75.
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.
Receive News & Ratings for Air Lease Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Air Lease Corporation and related companies with MarketBeat.com's FREE daily email newsletter.