Air Lease Corporation $AL Shares Sold by Copeland Capital Management LLC

Key Points

• Copeland Capital Management LLC reduced its stake in Air Lease Corporation by 8.5% in the second quarter, now holding approximately 1.9% of the company’s investment portfolio.
• Air Lease reported $1.40 earnings per share for the last quarter, exceeding analysts' expectations, and a revenue of $731.70 million, up 9.7% from the previous year.
• The company declared a quarterly dividend of $0.22, payable on October 8th, which represents a 1.4% annualized dividend yield.

Copeland Capital Management LLC lessened its stake in Air Lease Corporation (NYSE:AL - Free Report) by 8.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,582,725 shares of the transportation company's stock after selling 147,103 shares during the quarter. Air Lease comprises approximately 1.9% of Copeland Capital Management LLC's investment portfolio, making the stock its 4th biggest holding. Copeland Capital Management LLC owned approximately 1.42% of Air Lease worth $92,574,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio increased its position in Air Lease by 0.7% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 34,793 shares of the transportation company's stock valued at $2,035,000 after acquiring an additional 234 shares in the last quarter. Illinois Municipal Retirement Fund grew its position in shares of Air Lease by 0.5% during the 1st quarter. Illinois Municipal Retirement Fund now owns 56,306 shares of the transportation company's stock worth $2,720,000 after buying an additional 272 shares during the period. Squarepoint Ops LLC grew its position in shares of Air Lease by 3.0% during the 4th quarter. Squarepoint Ops LLC now owns 9,564 shares of the transportation company's stock worth $461,000 after buying an additional 281 shares during the period. MBM Wealth Consultants LLC grew its position in shares of Air Lease by 2.1% during the 1st quarter. MBM Wealth Consultants LLC now owns 14,131 shares of the transportation company's stock worth $686,000 after buying an additional 284 shares during the period. Finally, Versant Capital Management Inc grew its position in shares of Air Lease by 88.1% during the 1st quarter. Versant Capital Management Inc now owns 743 shares of the transportation company's stock worth $36,000 after buying an additional 348 shares during the period. Institutional investors and hedge funds own 94.59% of the company's stock.

Air Lease Stock Up 0.0%

Shares of NYSE AL opened at $63.61 on Friday. The stock has a market cap of $7.11 billion, a P/E ratio of 7.72, a P/E/G ratio of 0.66 and a beta of 1.37. The firm has a 50 day moving average price of $60.36 and a 200 day moving average price of $55.30. The company has a debt-to-equity ratio of 2.47, a quick ratio of 0.42 and a current ratio of 0.42. Air Lease Corporation has a 52-week low of $38.25 and a 52-week high of $64.30.

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

Air Lease Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages have recently commented on AL. TD Cowen cut shares of Air Lease from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, September 3rd. Deutsche Bank Aktiengesellschaft cut shares of Air Lease from a "buy" rating to a "hold" rating and set a $65.00 price target for the company. in a research report on Wednesday, September 3rd. Cowen cut shares of Air Lease from a "buy" rating to a "hold" rating in a research report on Wednesday, September 3rd. Finally, Barclays restated an "overweight" rating and set a $67.00 price objective (up previously from $56.00) on shares of Air Lease in a report on Thursday, July 10th. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $60.29.

Insider Activity at Air Lease

In other news, EVP David Beker sold 5,000 shares of the company's stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $63.53, for a total value of $317,650.00. Following the completion of the transaction, the executive vice president owned 13,970 shares in the company, valued at $887,514.10. This represents a 26.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Grant A. Levy sold 5,000 shares of the business's stock in a transaction on Friday, September 12th. The stock was sold at an average price of $63.57, for a total transaction of $317,850.00. Following the completion of the sale, the executive vice president directly owned 141,316 shares in the company, valued at approximately $8,983,458.12. This represents a 3.42% decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,000 shares of company stock valued at $746,380 in the last quarter. Corporate 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.

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