Air Lease Corp (AL) Position Increased by Douglas Lane & Associates LLC
Douglas Lane & Associates LLC increased its stake in Air Lease Corp (NYSE:AL) by 6.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,366,987 shares of the transportation company’s stock after purchasing an additional 87,266 shares during the period. Douglas Lane & Associates LLC’s holdings in Air Lease were worth $46,956,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Sageworth Trust Co acquired a new stake in Air Lease during the 1st quarter valued at approximately $26,000. Penserra Capital Management LLC acquired a new stake in Air Lease during the 4th quarter valued at approximately $27,000. First Mercantile Trust Co. lifted its stake in Air Lease by 41.5% during the 4th quarter. First Mercantile Trust Co. now owns 920 shares of the transportation company’s stock valued at $28,000 after acquiring an additional 270 shares during the period. SeaBridge Investment Advisors LLC acquired a new stake in Air Lease during the 4th quarter valued at approximately $30,000. Finally, First Interstate Bank acquired a new stake in Air Lease during the 4th quarter valued at approximately $36,000. Institutional investors own 85.51% of the company’s stock.
Several equities analysts have recently weighed in on the stock. Goldman Sachs Group assumed coverage on shares of Air Lease in a report on Monday, April 8th. They set a “buy” rating and a $52.00 target price for the company. TheStreet raised shares of Air Lease from a “c+” rating to a “b-” rating in a report on Wednesday, January 30th. ValuEngine lowered shares of Air Lease from a “sell” rating to a “strong sell” rating in a report on Wednesday, March 20th. Finally, Zacks Investment Research lowered shares of Air Lease from a “buy” rating to a “hold” rating in a report on Thursday, January 3rd. One research analyst has rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $55.56.
Air Lease (NYSE:AL) last issued its quarterly earnings results on Thursday, February 21st. The transportation company reported $1.24 EPS for the quarter, topping the consensus estimate of $1.23 by $0.01. The company had revenue of $449.98 million during the quarter, compared to analyst estimates of $457.55 million. Air Lease had a net margin of 30.41% and a return on equity of 11.45%. On average, sell-side analysts anticipate that Air Lease Corp will post 5.55 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, April 10th. Investors of record on Wednesday, March 20th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.37%. The ex-dividend date was Tuesday, March 19th. Air Lease’s payout ratio is presently 11.30%.
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About Air Lease
Air Lease Corporation, an aircraft leasing company, engages in the purchase and leasing of commercial jet transport aircraft to airlines worldwide. The company also sells aircraft from its operating lease portfolio to third parties, including other leasing companies, financial services companies, and airlines.
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