Greenland Capital Management LP Makes New Investment in Air Lease Corporation $AL

Greenland Capital Management LP acquired a new position in Air Lease Corporation (NYSE:AL) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 29,000 shares of the transportation company’s stock, valued at approximately $1,696,000.

Several other institutional investors and hedge funds also recently made changes to their positions in AL. Brooklyn Investment Group grew its stake in Air Lease by 152.4% during the first quarter. Brooklyn Investment Group now owns 588 shares of the transportation company’s stock worth $28,000 after purchasing an additional 355 shares during the period. Parkside Financial Bank & Trust grew its position in shares of Air Lease by 273.2% during the 2nd quarter. Parkside Financial Bank & Trust now owns 556 shares of the transportation company’s stock worth $33,000 after buying an additional 407 shares during the period. Geneos Wealth Management Inc. grew its position in shares of Air Lease by 264.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 892 shares of the transportation company’s stock worth $43,000 after buying an additional 647 shares during the period. SVB Wealth LLC bought a new stake in shares of Air Lease in the 1st quarter valued at $52,000. Finally, Hilltop National Bank bought a new stake in Air Lease in the second quarter valued at $127,000. Institutional investors own 94.59% of the company’s stock.

Insider Activity at Air Lease

In other Air Lease news, Director Matthew J. Hart sold 19,627 shares of the firm’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $63.78, for a total value of $1,251,810.06. Following the completion of the sale, the director directly owned 40,587 shares of the company’s stock, valued at $2,588,638.86. This trade represents a 32.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP David Beker sold 5,000 shares of the business’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $63.53, for a total value of $317,650.00. Following the completion of the sale, the executive vice president owned 13,970 shares in the company, valued at approximately $887,514.10. The trade was a 26.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 78,408 shares of company stock worth $5,002,933 over the last 90 days. Corporate insiders own 6.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on AL. Cowen downgraded Air Lease from a “buy” rating to a “hold” rating in a research note on Wednesday, September 3rd. Zacks Research cut Air Lease from a “hold” rating to a “strong sell” rating in a report on Wednesday, November 5th. Weiss Ratings reissued a “buy (b)” rating on shares of Air Lease in a research report on Wednesday, October 8th. TD Cowen lowered shares of Air Lease from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 3rd. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Air Lease from a “buy” rating to a “hold” rating and set a $65.00 price objective on the stock. in a research note on Wednesday, September 3rd. Five equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $60.29.

Air Lease Price Performance

AL opened at $63.71 on Wednesday. Air Lease Corporation has a 1 year low of $38.25 and a 1 year high of $64.30. The company has a debt-to-equity ratio of 2.47, a current ratio of 0.42 and a quick ratio of 0.42. The company has a market capitalization of $7.12 billion, a price-to-earnings ratio of 7.73, a P/E/G ratio of 0.66 and a beta of 1.36. The firm’s fifty day moving average price is $63.65 and its two-hundred day moving average price is $59.82.

Air Lease (NYSE:AL) last released its quarterly earnings results on Monday, November 3rd. The transportation company reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.13. The company had revenue of $725.39 million for the quarter, compared to analyst estimates of $744.59 million. Air Lease had a net margin of 34.04% and a return on equity of 7.99%. The firm’s revenue was up 5.1% on a year-over-year basis. During the same period last year, the firm earned $0.82 earnings per share. As a group, analysts anticipate that Air Lease Corporation will post 5.16 earnings per share for the current fiscal year.

Air Lease Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 8th. Shareholders of record on Thursday, December 4th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Thursday, December 4th. Air Lease’s payout ratio is presently 10.20%.

Air Lease Company Profile

Air Lease Corporation, an aircraft leasing company, engages in the purchase and leasing of commercial jet aircraft to airlines worldwide. It sells aircraft from its fleet to third parties, including other leasing companies, financial services companies, airlines, and other investors. The company provides fleet management services to investors and owners of aircraft portfolios.