Pekin Singer Strauss Asset Management IL boosted its position in Air Lease Corporation (NYSE:AL) by 62.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 279,942 shares of the transportation company’s stock after buying an additional 107,312 shares during the period. Air Lease Corporation makes up 1.6% of Pekin Singer Strauss Asset Management IL’s portfolio, making the stock its 13th largest position. Pekin Singer Strauss Asset Management IL’s holdings in Air Lease Corporation were worth $10,459,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in the company. Israel Discount Bank of New York bought a new position in Air Lease Corporation during the first quarter valued at about $100,000. Bank of Montreal Can increased its position in 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 last quarter. Penserra Capital Management LLC increased its position in Air Lease Corporation by 674.8% in the first quarter. Penserra Capital Management LLC now owns 4,974 shares of the transportation company’s stock valued at $192,000 after buying an additional 4,332 shares during the last quarter. Connable Office Inc. bought a new position in Air Lease Corporation during the first quarter valued at about $213,000. Finally, Canada Pension Plan Investment Board increased its position in Air Lease Corporation by 79.4% in the second quarter. Canada Pension Plan Investment Board now owns 6,100 shares of the transportation company’s stock valued at $228,000 after buying an additional 2,700 shares during the last quarter. 91.84% of the stock is currently owned by hedge funds and other institutional investors.

Air Lease Corporation (NYSE AL) opened at 40.01 on Friday. The stock has a 50 day moving average of $39.21 and a 200 day moving average of $38.14. The stock has a market capitalization of $4.13 billion, a P/E ratio of 11.65 and a beta of 1.78. Air Lease Corporation has a 1-year low of $27.05 and a 1-year high of $43.39.

Air Lease Corporation (NYSE:AL) last posted its quarterly earnings results on Thursday, August 3rd. The transportation company reported $0.92 earnings per share for the quarter, topping the Zacks’ consensus estimate 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 business had revenue of $380.59 million for the quarter, compared to analysts’ expectations of $375.14 million. During the same period in the prior year, the company posted $1.39 EPS. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. On average, analysts expect that Air Lease Corporation will post $3.46 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 6th. Stockholders of record on Wednesday, September 13th will be paid a dividend of $0.075 per share. The ex-dividend date of this dividend is Tuesday, September 12th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.75%. Air Lease Corporation’s dividend payout ratio (DPR) is presently 8.70%.

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Several equities analysts have issued reports on the stock. 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 on the stock. in a report on Wednesday. Zacks Investment Research raised shares of Air Lease Corporation from a “sell” rating to a “hold” rating in a report on Wednesday. BidaskClub downgraded shares of Air Lease Corporation from a “buy” rating to a “hold” rating in a report on Friday. Cowen and Company increased their price objective on shares of Air Lease Corporation from $41.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, August 4th. Finally, ValuEngine raised shares of Air Lease Corporation from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 10th. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Air Lease Corporation presently has an average rating of “Buy” and a consensus price target of $45.25.

In related news, EVP Grant A. Levy sold 27,854 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now directly owns 210,824 shares in the company, valued at approximately $8,045,043.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Jie Chen sold 10,000 shares of the business’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $43.00, for a total transaction of $430,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 39,854 shares of company stock worth $1,568,909. 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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Institutional Ownership by Quarter for Air Lease Corporation (NYSE:AL)

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