Air Lease Corporation (NYSE:AL) EVP Kishore Korde sold 2,000 shares of the stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $40.80, for a total value of $81,600.00. Following the completion of the transaction, the executive vice president now directly owns 84,410 shares in the company, valued at $3,443,928. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Air Lease Corporation (NYSE AL) traded down $0.03 during trading on Friday, reaching $41.61. The company had a trading volume of 398,002 shares, compared to its average volume of 682,021. The firm has a market capitalization of $4,295.82, a price-to-earnings ratio of 11.92, a price-to-earnings-growth ratio of 1.25 and a beta of 1.83. Air Lease Corporation has a 12-month low of $34.21 and a 12-month high of $45.15. The company has a debt-to-equity ratio of 2.53, a quick ratio of 1.06 and a current ratio of 1.06.
Air Lease Corporation (NYSE:AL) last posted its earnings results on Thursday, November 9th. The transportation company reported $0.90 EPS for the quarter, topping the consensus estimate of $0.87 by $0.03. The firm had revenue of $376.77 million for the quarter, compared to analyst estimates of $374.61 million. Air Lease Corporation had a return on equity of 10.87% and a net margin of 25.67%. Air Lease Corporation’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period last year, the company earned $1.43 earnings per share. sell-side analysts anticipate that Air Lease Corporation will post 3.46 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 4th. Investors of record on Thursday, December 14th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.96%. This is a positive change from Air Lease Corporation’s previous quarterly dividend of $0.08. The ex-dividend date is Wednesday, December 13th. Air Lease Corporation’s dividend payout ratio (DPR) is 8.60%.
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A number of research analysts have recently weighed in on AL shares. Royal Bank Of Canada reissued a “buy” rating and issued a $80.00 price objective on shares of Air Lease Corporation in a report on Thursday, November 2nd. Zacks Investment Research raised Air Lease Corporation from a “sell” rating to a “hold” rating in a report on Wednesday. Bank of America Corporation set a $47.00 price objective on Air Lease Corporation and gave the company a “hold” rating in a report on Thursday, October 19th. BidaskClub lowered Air Lease Corporation from a “buy” rating to a “hold” rating in a report on Friday, August 11th. Finally, Cowen and Company increased their price objective on Air Lease Corporation from $41.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, August 4th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Air Lease Corporation presently has a consensus rating of “Buy” and a consensus price target of $48.78.
A number of institutional investors have recently bought and sold shares of the stock. Americafirst Capital Management LLC acquired a new stake in Air Lease Corporation during the third quarter worth about $444,000. Sterling Capital Management LLC grew its holdings in Air Lease Corporation by 8.9% during the third quarter. Sterling Capital Management LLC now owns 107,144 shares of the transportation company’s stock worth $4,566,000 after acquiring an additional 8,795 shares during the period. California Public Employees Retirement System grew its holdings in Air Lease Corporation by 5.4% during the third quarter. California Public Employees Retirement System now owns 200,500 shares of the transportation company’s stock worth $8,545,000 after acquiring an additional 10,300 shares during the period. Bamco Inc. NY grew its holdings in Air Lease Corporation by 3.1% during the third quarter. Bamco Inc. NY now owns 2,369,082 shares of the transportation company’s stock worth $100,970,000 after acquiring an additional 70,200 shares during the period. Finally, Zions Bancorporation acquired a new stake in Air Lease Corporation during the third quarter worth about $114,000. 92.15% of the stock is currently owned by hedge funds and other institutional investors.
About Air Lease Corporation
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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