Air Lease Corp (NYSE:AL) EVP Kishore Korde sold 2,000 shares of the firm’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $40.80, for a total value of $81,600.00. Following the sale, the executive vice president now directly owns 84,410 shares in the company, valued at approximately $3,443,928. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Air Lease Corp (NYSE AL) traded up $0.64 during mid-day trading on Monday, hitting $44.33. The stock had a trading volume of 746,045 shares, compared to its average volume of 741,252. Air Lease Corp has a 1 year low of $34.21 and a 1 year 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. The company has a market cap of $4,580.00, a price-to-earnings ratio of 12.52, a PEG ratio of 1.32 and a beta of 1.82.
Air Lease (NYSE:AL) last posted its quarterly earnings data on Thursday, November 9th. The transportation company reported $0.90 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.87 by $0.03. Air Lease had a return on equity of 10.87% and a net margin of 25.67%. The firm had revenue of $376.77 million during the quarter, compared to analyst estimates of $374.61 million. During the same period last year, the company posted $1.43 EPS. The business’s quarterly revenue was up 6.1% on a year-over-year basis. equities analysts forecast that Air Lease Corp will post 3.44 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 4th. Stockholders of record on Thursday, December 14th will be given a $0.10 dividend. The ex-dividend date is Wednesday, December 13th. This is a positive change from Air Lease’s previous quarterly dividend of $0.08. This represents a $0.40 annualized dividend and a dividend yield of 0.90%. Air Lease’s dividend payout ratio (DPR) is 8.62%.
A number of institutional investors have recently modified their holdings of the stock. Americafirst Capital Management LLC bought a new stake in Air Lease in the 3rd quarter valued at about $444,000. Sterling Capital Management LLC increased its position in Air Lease by 8.9% in the 3rd quarter. Sterling Capital Management LLC now owns 107,144 shares of the transportation company’s stock valued at $4,566,000 after buying an additional 8,795 shares in the last quarter. California Public Employees Retirement System increased its position in Air Lease by 5.4% in the 3rd quarter. California Public Employees Retirement System now owns 200,500 shares of the transportation company’s stock valued at $8,545,000 after buying an additional 10,300 shares in the last quarter. Bamco Inc. NY increased its position in Air Lease by 3.1% in the 3rd quarter. Bamco Inc. NY now owns 2,369,082 shares of the transportation company’s stock valued at $100,970,000 after buying an additional 70,200 shares in the last quarter. Finally, Zions Bancorporation bought a new stake in Air Lease in the 3rd quarter valued at about $114,000. 91.87% of the stock is owned by institutional investors and hedge funds.
AL has been the topic of several recent research reports. Zacks Investment Research downgraded Air Lease from a “hold” rating to a “sell” rating in a report on Thursday, November 9th. Royal Bank Of Canada lifted their target price on Air Lease from $79.00 to $80.00 and gave the stock a “top pick” rating in a report on Friday, September 29th. Bank of America set a $47.00 target price on Air Lease and gave the stock a “hold” rating in a report on Thursday, October 19th. UBS lifted their target price on Air Lease from $30.00 to $31.00 and gave the stock a “sell” rating in a report on Friday, November 10th. Finally, Credit Suisse Group lifted their target price on Air Lease from $44.00 to $46.00 and gave the stock an “outperform” rating in a report on Friday, November 10th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $48.78.
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About Air Lease
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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