CenterBook Partners LP Sells 17,327 Shares of Air Lease Corporation (NYSE:AL)

CenterBook Partners LP lowered its position in Air Lease Corporation (NYSE:AL - Free Report) by 68.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. 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 SEC filing.

A number of other large investors have also made changes to their positions in AL. Alpine Bank Wealth Management bought a new position in Air Lease during the 1st quarter worth about $25,000. Aster Capital Management DIFC Ltd acquired a new stake in Air Lease in the 4th quarter valued at about $28,000. Engine Capital Management LP acquired a new stake in Air Lease in the 4th quarter valued at about $36,000. Versant Capital Management Inc lifted its stake in Air Lease by 88.1% in the 1st quarter. Versant Capital Management Inc now owns 743 shares of the transportation company's stock valued at $36,000 after purchasing an additional 348 shares during the last quarter. Finally, Brown Brothers Harriman & Co. lifted its stake in Air Lease by 5,245.0% in the 4th quarter. Brown Brothers Harriman & Co. now owns 1,069 shares of the transportation company's stock valued at $52,000 after purchasing an additional 1,049 shares during the last quarter. Institutional investors own 94.59% of the company's stock.

Insider Buying and Selling

In related news, EVP Grant A. Levy sold 10,000 shares of Air Lease stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $56.85, for a total value of $568,500.00. Following the transaction, the executive vice president owned 146,316 shares in the company, valued at $8,318,064.60. This trade represents a 6.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 6.80% of the stock is currently owned by insiders.

Air Lease Price Performance

Shares of NYSE AL traded down $0.22 during midday trading on Monday, reaching $57.31. The company's stock had a trading volume of 122,167 shares, compared to its average volume of 778,518. The company has a debt-to-equity ratio of 2.53, a quick ratio of 0.39 and a current ratio of 0.39. Air Lease Corporation has a fifty-two week low of $38.25 and a fifty-two week high of $60.41. The company has a market cap of $6.40 billion, a P/E ratio of 10.01, a P/E/G ratio of 0.62 and a beta of 1.35. The business's 50 day moving average price is $57.63 and its two-hundred day moving average price is $50.34.

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

Air Lease Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Investors of record on Wednesday, June 4th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.54%. The ex-dividend date was Wednesday, June 4th. Air Lease's dividend payout ratio (DPR) is presently 15.38%.

Wall Street Analysts Forecast Growth

AL has been the subject of several research reports. Citigroup upgraded shares of Air Lease from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $45.00 to $68.00 in a research report on Tuesday, May 20th. Wall Street Zen upgraded shares of Air Lease from a "hold" rating to a "buy" rating in a research report on Wednesday, May 7th. Finally, Barclays restated an "overweight" rating and set a $67.00 price objective (up from $56.00) on shares of Air Lease in a research report on Thursday, July 10th. One analyst has rated the stock with a sell rating and six have given a buy rating to the stock. Based on data from MarketBeat, Air Lease presently has a consensus rating of "Moderate Buy" and an average price target of $59.29.

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.