Selz Capital LLC raised its stake in Air Lease Corp. (NYSE:AL) by 3.6% during the third quarter, Holdings Channel reports. The fund owned 1,029,800 shares of the company’s stock after buying an additional 36,000 shares during the period. Air Lease Corp. comprises approximately 6.9% of Selz Capital LLC’s investment portfolio, making the stock its 3rd largest position. Selz Capital LLC’s holdings in Air Lease Corp. were worth $29,432,000 as of its most recent SEC filing.
A number of other large investors have also made changes to their positions in AL. Teachers Advisors Inc. increased its stake in shares of Air Lease Corp. by 51.6% in the first quarter. Teachers Advisors Inc. now owns 125,769 shares of the company’s stock valued at $4,040,000 after buying an additional 42,821 shares during the last quarter. Prudential Financial Inc. increased its stake in shares of Air Lease Corp. by 369.3% in the first quarter. Prudential Financial Inc. now owns 352,899 shares of the company’s stock valued at $11,335,000 after buying an additional 277,700 shares during the last quarter. BlackRock Group LTD increased its stake in shares of Air Lease Corp. by 2.0% in the first quarter. BlackRock Group LTD now owns 129,009 shares of the company’s stock valued at $4,143,000 after buying an additional 2,502 shares during the last quarter. State Street Corp increased its stake in shares of Air Lease Corp. by 1.9% in the first quarter. State Street Corp now owns 1,094,692 shares of the company’s stock valued at $35,160,000 after buying an additional 20,554 shares during the last quarter. Finally, Quadrature Capital Ltd increased its stake in shares of Air Lease Corp. by 0.9% in the first quarter. Quadrature Capital Ltd now owns 14,900 shares of the company’s stock valued at $479,000 after buying an additional 130 shares during the last quarter. 91.89% of the stock is currently owned by hedge funds and other institutional investors.
Air Lease Corp. (NYSE:AL) opened at 29.17 on Wednesday. Air Lease Corp. has a one year low of $22.47 and a one year high of $35.22. The stock has a 50 day moving average of $28.66 and a 200 day moving average of $29.02. The firm has a market cap of $3.00 billion, a PE ratio of 9.26 and a beta of 1.59.
Air Lease Corp. (NYSE:AL) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.02. Air Lease Corp. had a net margin of 25.70% and a return on equity of 14.72%. The company earned $350.10 million during the quarter, compared to the consensus estimate of $349.19 million. During the same period in the previous year, the firm earned $0.70 earnings per share. Air Lease Corp.’s revenue for the quarter was up 14.9% on a year-over-year basis. On average, equities analysts forecast that Air Lease Corp. will post $3.39 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, October 6th. Stockholders of record on Monday, September 12th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, September 8th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.69%. Air Lease Corp.’s payout ratio is currently 6.37%.
A number of equities research analysts have commented on AL shares. FBR & Co reissued an “outperform” rating and issued a $40.00 price objective on shares of Air Lease Corp. in a research report on Tuesday, June 21st. Zacks Investment Research raised shares of Air Lease Corp. from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a research report on Wednesday, June 29th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Air Lease Corp. currently has an average rating of “Buy” and an average target price of $44.44.
Air Lease Corp. 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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