CenterBook Partners LP Reduces Stock Position in Air Lease Corporation (NYSE:AL)

CenterBook Partners LP cut its holdings in Air Lease Corporation (NYSE:AL - Free Report) by 68.1% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,115 shares of the transportation company's stock after selling 17,327 shares during the period. CenterBook Partners LP's holdings in Air Lease were worth $392,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of AL. Wellington Management Group LLP raised its stake in Air Lease by 7.2% in the 4th quarter. Wellington Management Group LLP now owns 5,384,230 shares of the transportation company's stock worth $259,574,000 after purchasing an additional 362,585 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Air Lease by 19.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,353,803 shares of the transportation company's stock worth $162,492,000 after buying an additional 553,080 shares in the last quarter. American Century Companies Inc. grew its stake in Air Lease by 13.7% during the fourth quarter. American Century Companies Inc. now owns 3,226,921 shares of the transportation company's stock worth $155,570,000 after buying an additional 389,070 shares in the last quarter. Earnest Partners LLC grew its stake in Air Lease by 0.4% during the fourth quarter. Earnest Partners LLC now owns 2,577,931 shares of the transportation company's stock worth $124,282,000 after buying an additional 9,809 shares in the last quarter. Finally, Capital Research Global Investors grew its stake in Air Lease by 50.7% during the fourth quarter. Capital Research Global Investors now owns 2,050,000 shares of the transportation company's stock worth $98,830,000 after buying an additional 690,000 shares in the last quarter. 94.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on AL shares. Citigroup upgraded shares of Air Lease from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $45.00 to $68.00 in a research note on Tuesday, May 20th. Barclays reissued an "overweight" rating and set a $67.00 target price (up previously from $56.00) on shares of Air Lease in a research note on Thursday, July 10th. Finally, Wall Street Zen raised Air Lease from a "hold" rating to a "buy" rating in a research note on Wednesday, May 7th. One analyst has rated the stock with a sell rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $59.29.

Air Lease Stock Down 1.3%

Air Lease stock traded down $0.77 during midday trading on Friday, hitting $57.54. 588,989 shares of the stock were exchanged, compared to its average volume of 781,310. Air Lease Corporation has a 52-week low of $38.25 and a 52-week high of $60.41. The stock has a market capitalization of $6.43 billion, a price-to-earnings ratio of 10.06, a price-to-earnings-growth ratio of 0.63 and a beta of 1.35. The business's 50-day moving average price is $57.63 and its 200-day moving average price is $50.31. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 2.53.

Air Lease (NYSE:AL - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The transportation company reported $1.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.24 by $0.27. Air Lease had a net margin of 24.77% and a return on equity of 8.04%. The business had revenue of $738.28 million during the quarter, compared to the consensus estimate of $709.70 million. During the same quarter last year, the company posted $0.87 earnings per share. The firm's quarterly revenue was up 11.3% compared to the same quarter last year. On average, research analysts expect that Air Lease Corporation will post 5.16 EPS for the current fiscal year.

Air Lease Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 4th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend was Wednesday, June 4th. Air Lease's payout ratio is presently 15.38%.

Insiders Place Their Bets

In other Air Lease news, EVP Grant A. Levy sold 10,000 shares of the firm's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $56.85, for a total value of $568,500.00. Following the sale, the executive vice president owned 146,316 shares of the company's stock, valued at $8,318,064.60. This trade represents a 6.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 6.64% of the stock is owned by insiders.

About Air Lease

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.