Reinhart Partners Inc. raised its position in shares of Air Lease Corp (NYSE:AL) by 11.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,290 shares of the transportation company’s stock after acquiring an additional 8,740 shares during the period. Reinhart Partners Inc.’s holdings in Air Lease were worth $3,867,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Advisors Asset Management Inc. raised its stake in Air Lease by 1,105.1% during the second quarter. Advisors Asset Management Inc. now owns 37,552 shares of the transportation company’s stock valued at $100,000 after purchasing an additional 34,436 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in Air Lease by 224.2% during the second quarter. Envestnet Asset Management Inc. now owns 3,618 shares of the transportation company’s stock valued at $153,000 after purchasing an additional 2,502 shares in the last quarter. Meadow Creek Investment Management LLC purchased a new stake in Air Lease during the second quarter valued at $173,000. Glen Harbor Capital Management LLC purchased a new stake in Air Lease during the second quarter valued at $210,000. Finally, Paloma Partners Management Co purchased a new stake in Air Lease during the second quarter valued at $222,000. 86.49% of the stock is currently owned by institutional investors and hedge funds.
Several analysts have recently issued reports on the stock. Bank of America restated a “buy” rating and set a $57.00 target price on shares of Air Lease in a research report on Thursday, August 16th. Zacks Investment Research cut shares of Air Lease from a “hold” rating to a “sell” rating in a research report on Monday, August 6th. ValuEngine cut shares of Air Lease from a “hold” rating to a “sell” rating in a research report on Friday, September 7th. Compass Point restated a “buy” rating and set a $58.00 price objective on shares of Air Lease in a research report on Sunday, August 12th. Finally, Royal Bank of Canada upped their price objective on Air Lease from $91.00 to $93.00 and gave the company a “top pick” rating in a research report on Friday, August 10th. Two analysts have rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Air Lease currently has a consensus rating of “Buy” and a consensus target price of $55.85.
Air Lease stock opened at $38.76 on Friday. The company has a debt-to-equity ratio of 2.53, a quick ratio of 0.85 and a current ratio of 0.85. Air Lease Corp has a 1-year low of $37.63 and a 1-year high of $50.70. The stock has a market capitalization of $4.16 billion, a P/E ratio of 10.62, a PEG ratio of 1.05 and a beta of 1.78.
Air Lease (NYSE:AL) last posted its quarterly earnings data on Thursday, August 9th. The transportation company reported $1.04 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.04. Air Lease had a net margin of 51.22% and a return on equity of 10.85%. The company had revenue of $397.80 million for the quarter, compared to analyst estimates of $400.11 million. During the same period in the prior year, the company posted $1.51 EPS. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. Sell-side analysts expect that Air Lease Corp will post 4.49 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, October 5th. Stockholders of record on Friday, September 14th were issued a $0.10 dividend. The ex-dividend date was Thursday, September 13th. This represents a $0.40 annualized dividend and a dividend yield of 1.03%. Air Lease’s payout ratio is 10.96%.
Air Lease Profile
Air Lease Corporation, an aircraft leasing company, engages in the purchase and leasing of commercial jet transport aircraft to airlines worldwide. The company also sells aircraft from its operating lease portfolio to third parties, including other leasing companies, financial services companies, and airlines.
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