Air Lease Corporation $AL Shares Acquired by Uniplan Investment Counsel Inc.

Key Points

• Uniplan Investment Counsel Inc. increased its holdings in Air Lease Corporation by 48.2%, now owning a total of 30,166 shares worth approximately $1.46 million.
• Air Lease's latest earnings report showed a quarterly EPS of $1.40, exceeding analysts' expectations, with revenue increasing by 9.7% year-over-year.
• The company declared a quarterly dividend of $0.22, reflecting an annual yield of 1.4% and a low payout ratio of 10.68%.

Uniplan Investment Counsel Inc. raised its holdings in shares of Air Lease Corporation (NYSE:AL - Free Report) by 48.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,166 shares of the transportation company's stock after buying an additional 9,815 shares during the period. Uniplan Investment Counsel Inc.'s holdings in Air Lease were worth $1,457,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Millennium Management LLC raised its stake in shares of Air Lease by 1,675.1% during the first quarter. Millennium Management LLC now owns 204,000 shares of the transportation company's stock valued at $9,855,000 after acquiring an additional 192,508 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Air Lease by 21.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 50,569 shares of the transportation company's stock worth $2,443,000 after buying an additional 9,056 shares in the last quarter. Cinctive Capital Management LP bought a new position in Air Lease in the first quarter worth approximately $3,301,000. AQR Capital Management LLC raised its stake in Air Lease by 7.5% in the first quarter. AQR Capital Management LLC now owns 138,567 shares of the transportation company's stock worth $6,499,000 after buying an additional 9,724 shares in the last quarter. Finally, Royal Bank of Canada raised its stake in Air Lease by 8.3% in the first quarter. Royal Bank of Canada now owns 353,072 shares of the transportation company's stock worth $17,057,000 after buying an additional 27,065 shares in the last quarter. Institutional investors own 94.59% of the company's stock.

Air Lease Stock Performance

AL traded down $0.02 on Wednesday, reaching $63.58. The company had a trading volume of 2,041,001 shares, compared to its average volume of 2,019,648. Air Lease Corporation has a 1 year low of $38.25 and a 1 year high of $64.30. The stock has a market capitalization of $7.11 billion, a PE ratio of 7.72, a P/E/G ratio of 0.66 and a beta of 1.37. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 2.47. The stock has a 50-day moving average price of $58.71 and a 200-day moving average price of $53.38.

Air Lease (NYSE:AL - Get Free Report) last announced its earnings results on Monday, August 4th. The transportation company reported $1.40 EPS for the quarter, beating analysts' consensus estimates of $1.33 by $0.07. Air Lease had a net margin of 34.04% and a return on equity of 7.99%. The business had revenue of $731.70 million during the quarter, compared to analysts' expectations of $723.35 million. During the same period in the prior year, the company earned $1.23 earnings per share. The business's revenue was up 9.7% compared to the same quarter last year. As a group, research analysts forecast that Air Lease Corporation will post 5.16 EPS for the current fiscal year.

Air Lease Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 8th. Stockholders of record on Wednesday, September 3rd will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Wednesday, September 3rd. Air Lease's payout ratio is 10.68%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AL. Citigroup raised Air Lease from a "neutral" rating to a "buy" rating and upped their price target for the stock from $45.00 to $68.00 in a research report on Tuesday, May 20th. TD Cowen lowered shares of Air Lease from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, September 3rd. Cowen lowered shares of Air Lease from a "buy" rating to a "hold" rating in a research note on Wednesday, September 3rd. Deutsche Bank Aktiengesellschaft downgraded shares of Air Lease from a "buy" rating to a "hold" rating and set a $65.00 price target for the company. in a report on Wednesday, September 3rd. Finally, Barclays reiterated an "overweight" rating and issued a $67.00 target price (up previously from $56.00) on shares of Air Lease in a report on Thursday, July 10th. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $60.29.

Insiders Place Their Bets

In other Air Lease news, EVP David Beker sold 2,000 shares of the company's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $55.44, for a total transaction of $110,880.00. Following the transaction, the executive vice president directly owned 19,770 shares in the company, valued at approximately $1,096,048.80. This represents a 9.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 6.64% of the company's stock.

Air Lease Profile

Air Lease Corporation, an aircraft leasing company, engages in the purchase and leasing of commercial jet aircraft to airlines worldwide. It sells aircraft from its fleet to third parties, including other leasing companies, financial services companies, airlines, and other investors. The company provides fleet management services to investors and owners of aircraft portfolios.