Douglas Lane & Associates LLC Has $17.58 Million Position in Air Lease Corporation $AL

Key Points

• Douglas Lane & Associates LLC has reduced its stake in Air Lease Corporation by 30.5%, owning now 300,562 shares valued at approximately $17.58 million.
• Air Lease reported a quarterly earnings per share (EPS) of $1.40, surpassing analysts' expectations of $1.33, with revenue increasing by 9.7% year-over-year to $731.7 million.
• The company declared a quarterly dividend of $0.22 per share, set to be paid on October 8th, indicating an annualized payout of $0.88 and a yield of 1.4%.

Douglas Lane & Associates LLC reduced its holdings in Air Lease Corporation (NYSE:AL - Free Report) by 30.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 300,562 shares of the transportation company's stock after selling 132,123 shares during the period. Douglas Lane & Associates LLC owned 0.27% of Air Lease worth $17,580,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Alpine Bank Wealth Management bought a new stake in Air Lease in the 1st quarter valued at about $25,000. Brooklyn Investment Group raised its position in shares of Air Lease by 152.4% in the 1st quarter. Brooklyn Investment Group now owns 588 shares of the transportation company's stock valued at $28,000 after buying an additional 355 shares in the last quarter. Versant Capital Management Inc increased its position in 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 purchasing an additional 348 shares in the last quarter. Geneos Wealth Management Inc. increased its position in Air Lease by 264.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 892 shares of the transportation company's stock worth $43,000 after purchasing an additional 647 shares in the last quarter. Finally, Fourth Dimension Wealth LLC acquired a new position in Air Lease during the 4th quarter worth approximately $52,000. Institutional investors own 94.59% of the company's stock.

Air Lease Trading Down 0.1%

NYSE:AL opened at $63.53 on Friday. The firm's fifty day moving average is $58.87 and its 200-day moving average is $53.64. 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. The firm has a market cap of $7.10 billion, a P/E ratio of 7.71, 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, beating 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 company had revenue of $731.70 million for the quarter, compared to analyst estimates of $723.35 million. During the same period in the prior year, the firm posted $1.23 EPS. The company's quarterly revenue was up 9.7% on a year-over-year basis. Equities analysts expect that Air Lease Corporation will post 5.16 earnings per share for the current year.

Air Lease Announces Dividend

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

Insider Activity at Air Lease

In other news, EVP David Beker sold 2,000 shares of the company's stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $55.44, for a total value of $110,880.00. Following the sale, the executive vice president directly owned 19,770 shares of the company's stock, valued at approximately $1,096,048.80. This represents a 9.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 6.64% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft cut shares of Air Lease from a "buy" rating to a "hold" rating and set a $65.00 price objective 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. TD Cowen cut shares of Air Lease from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, September 3rd. Citigroup upgraded shares of Air Lease from a "neutral" rating to a "buy" rating and upped their price target for the company from $45.00 to $68.00 in a research report on Tuesday, May 20th. Finally, Barclays restated an "overweight" rating and issued a $67.00 price target (up from $56.00) on shares of Air Lease in a research report on Thursday, July 10th. Four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Air Lease currently has an average rating of "Hold" and an average target price of $60.29.

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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