Bbva Compass Bancshares Inc. increased its stake in shares of Air Lease Corp (NYSE:AL) by 24.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,584 shares of the transportation company’s stock after purchasing an additional 2,243 shares during the period. Bbva Compass Bancshares Inc.’s holdings in Air Lease were worth $398,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. BlackRock Inc. grew its position in Air Lease by 7.8% during the fourth quarter. BlackRock Inc. now owns 4,330,216 shares of the transportation company’s stock valued at $130,815,000 after buying an additional 313,018 shares during the period. Dimensional Fund Advisors LP grew its position in Air Lease by 7.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,305,235 shares of the transportation company’s stock valued at $130,060,000 after buying an additional 289,140 shares during the period. Royce & Associates LP grew its position in Air Lease by 19.3% during the fourth quarter. Royce & Associates LP now owns 3,062,172 shares of the transportation company’s stock valued at $92,508,000 after buying an additional 495,858 shares during the period. Ellis Investment Partners LLC grew its position in Air Lease by 3,293.8% during the first quarter. Ellis Investment Partners LLC now owns 2,259,600 shares of the transportation company’s stock valued at $2,259,000 after buying an additional 2,193,019 shares during the period. Finally, Douglas Lane & Associates LLC grew its position in Air Lease by 6.8% during the first quarter. Douglas Lane & Associates LLC now owns 1,366,987 shares of the transportation company’s stock valued at $46,956,000 after buying an additional 87,266 shares during the period. Institutional investors own 83.93% of the company’s stock.
Several brokerages recently issued reports on AL. Zacks Investment Research upgraded shares of Air Lease from a “sell” rating to a “hold” rating in a research report on Wednesday. ValuEngine upgraded shares of Air Lease from a “strong sell” rating to a “sell” rating in a research report on Thursday, April 11th. Goldman Sachs Group assumed coverage on shares of Air Lease in a research report on Monday, April 8th. They issued a “buy” rating and a $52.00 price target for the company. Finally, TheStreet upgraded shares of Air Lease from a “c+” rating to a “b-” rating in a research report on Wednesday, January 30th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $55.56.
Air Lease (NYSE:AL) last posted its quarterly earnings results on Thursday, May 9th. The transportation company reported $1.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.22 by $0.01. The business had revenue of $466.00 million during the quarter, compared to analyst estimates of $456.91 million. Air Lease had a net margin of 30.50% and a return on equity of 11.45%. The company’s revenue was up 22.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.38 earnings per share. Equities research analysts anticipate that Air Lease Corp will post 5.5 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Wednesday, June 5th will be given a $0.13 dividend. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.36%. Air Lease’s payout ratio is currently 11.30%.
Air Lease Company 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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