Air Lease Corporation $AL Shares Sold by Parkside Investments LLC

Key Points

• Parkside Investments LLC reduced its holdings in Air Lease Corporation by 8.9% in the second quarter, now owning approximately 179,414 shares valued at about $10.5 million.
• Air Lease recently reported earnings of $1.40 EPS for the quarter, surpassing estimates, with a 34.04% net margin and projected earnings of 5.16 EPS for the current year.
• The company declared a quarterly dividend of $0.22 per share, which is set to be paid on October 8th, representing an annual yield of 1.4%.

Parkside Investments LLC lessened its holdings in shares of Air Lease Corporation (NYSE:AL - Free Report) by 8.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 179,414 shares of the transportation company's stock after selling 17,589 shares during the quarter. Air Lease makes up about 1.4% of Parkside Investments LLC's portfolio, making the stock its 23rd biggest holding. Parkside Investments LLC owned approximately 0.16% of Air Lease worth $10,494,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Sage Rhino Capital LLC acquired a new stake in Air Lease during the 2nd quarter worth $222,000. State of Alaska Department of Revenue boosted its stake in Air Lease by 7.8% during the 2nd quarter. State of Alaska Department of Revenue now owns 61,876 shares of the transportation company's stock worth $3,618,000 after purchasing an additional 4,483 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in Air Lease by 0.7% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 34,793 shares of the transportation company's stock worth $2,035,000 after purchasing an additional 234 shares during the last quarter. Park Avenue Securities LLC acquired a new stake in Air Lease during the 2nd quarter worth $1,123,000. Finally, Diversified Trust Co purchased a new position in shares of Air Lease during the 2nd quarter worth $230,000. Institutional investors and hedge funds own 94.59% of the company's stock.

Air Lease Stock Performance

NYSE AL opened at $63.59 on Tuesday. The company has a debt-to-equity ratio of 2.47, a current ratio of 0.42 and a quick ratio of 0.42. The company has a market cap of $7.11 billion, a P/E ratio of 7.72, a P/E/G ratio of 0.65 and a beta of 1.37. The stock has a 50-day moving average of $60.02 and a two-hundred day moving average of $55.07. Air Lease Corporation has a 1-year low of $38.25 and a 1-year high of $64.30.

Air Lease (NYSE:AL - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The transportation company reported $1.40 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $723.35 million. During the same quarter last year, the firm posted $1.23 earnings per share. The business's revenue for the quarter was up 9.7% compared to the same quarter last year. As a group, analysts anticipate that Air Lease Corporation will post 5.16 EPS for the current year.

Air Lease Announces Dividend

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

Insider Transactions at Air Lease

In other Air Lease news, EVP David Beker sold 5,000 shares of the business'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 transaction 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. The trade was a 26.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Grant A. Levy sold 5,000 shares of the business's stock in a transaction that occurred 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 transaction, the executive vice president owned 141,316 shares of the company's stock, valued at $8,983,458.12. This trade represents a 3.42% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 12,000 shares of company stock worth $746,380 in the last ninety days. 6.64% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

AL has been the topic of several analyst reports. Cowen lowered Air Lease from a "buy" rating to a "hold" rating in a report on Wednesday, September 3rd. Barclays reiterated an "overweight" rating and set a $67.00 price target (up previously from $56.00) on shares of Air Lease in a report on Thursday, July 10th. Deutsche Bank Aktiengesellschaft lowered Air Lease from a "buy" rating to a "hold" rating and set a $65.00 price target on the stock. in a report on Wednesday, September 3rd. Finally, TD Cowen lowered Air Lease from a "strong-buy" rating to a "hold" rating in a report on Wednesday, September 3rd. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $60.29.

Air Lease Company 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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