Barton Investment Management Sells 73,395 Shares of Air Lease Corporation $AL

Key Points

• Barton Investment Management reduced its stake in Air Lease Corporation by 11.0%, selling 73,395 shares, and now holds 595,023 shares worth approximately $34.8 million.
• Air Lease Corporation has seen significant trading activity, with various hedge funds increasing their positions in the company, demonstrating strong institutional interest, as they now own 94.59% of the stock.
• The company declared a $0.22 quarterly dividend, scheduled for payment on October 8th, resulting in an annualized yield of 1.4% and a dividend payout ratio of 10.68%.

Barton Investment Management lessened its stake in shares of Air Lease Corporation (NYSE:AL - Free Report) by 11.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 595,023 shares of the transportation company's stock after selling 73,395 shares during the quarter. Air Lease comprises about 3.6% of Barton Investment Management's investment portfolio, making the stock its 6th biggest holding. Barton Investment Management owned 0.53% of Air Lease worth $34,803,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Alpine Bank Wealth Management acquired a new position in shares of Air Lease during the first quarter valued at approximately $25,000. Brooklyn Investment Group increased its stake in shares of Air Lease by 152.4% during the first quarter. Brooklyn Investment Group now owns 588 shares of the transportation company's stock valued at $28,000 after acquiring an additional 355 shares during the period. Versant Capital Management Inc increased its stake in shares of Air Lease by 88.1% during the first quarter. Versant Capital Management Inc now owns 743 shares of the transportation company's stock valued at $36,000 after acquiring an additional 348 shares during the period. Geneos Wealth Management Inc. increased its stake in shares of Air Lease by 264.1% during the first quarter. Geneos Wealth Management Inc. now owns 892 shares of the transportation company's stock valued at $43,000 after acquiring an additional 647 shares during the period. Finally, SVB Wealth LLC acquired a new position in shares of Air Lease during the first quarter valued at approximately $52,000. Institutional investors and hedge funds own 94.59% of the company's stock.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other Air Lease news, EVP David Beker sold 5,000 shares of Air Lease stock in a transaction 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 sale, the executive vice president owned 13,970 shares of the company's stock, valued at $887,514.10. This trade represents a 26.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Grant A. Levy sold 5,000 shares of Air Lease stock in a transaction on Friday, September 12th. The shares were sold at an average price of $63.57, for a total transaction of $317,850.00. Following the sale, the executive vice president directly 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 valued at $746,380 in the last ninety days. Company insiders own 6.64% of the company's stock.

Air Lease Trading Up 0.0%

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

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, topping 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 firm had revenue of $731.70 million during the quarter, compared to analyst estimates of $723.35 million. During the same quarter last year, the business posted $1.23 EPS. The company's revenue was up 9.7% on a year-over-year basis. Research analysts forecast that Air Lease Corporation will post 5.16 EPS for the current year.

Air Lease Dividend Announcement

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

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.

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