M3F Inc. Takes $19.78 Million Position in Air Lease Corporation $AL

Key Points

• M3F Inc. has acquired a stake in Air Lease Corporation, purchasing 409,350 shares valued at approximately $19.78 million, making it the firm's 7th largest investment at 5.4% of its portfolio.
• Air Lease Corporation reported $1.40 earnings per share for the latest quarter, exceeding analysts' expectations of $1.33, with a revenue of $731.7 million, up 9.7% year-over-year.
• The company declared a quarterly dividend of $0.22 per share, resulting in an annualized yield of 1.5%, with the ex-dividend date set for September 3rd.

M3F Inc. purchased a new stake in Air Lease Corporation (NYSE:AL - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 409,350 shares of the transportation company's stock, valued at approximately $19,776,000. Air Lease accounts for about 5.4% of M3F Inc.'s investment portfolio, making the stock its 7th biggest holding. M3F Inc. owned approximately 0.37% of Air Lease as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Keeley Teton Advisors LLC raised its position in shares of Air Lease by 12.5% in the first quarter. Keeley Teton Advisors LLC now owns 178,469 shares of the transportation company's stock valued at $8,622,000 after purchasing an additional 19,840 shares during the period. MetLife Investment Management LLC increased its position in Air Lease by 18,200.7% during the first quarter. MetLife Investment Management LLC now owns 335,268 shares of the transportation company's stock worth $16,197,000 after acquiring an additional 333,436 shares during the period. SVB Wealth LLC bought a new position in Air Lease during the first quarter worth $52,000. Valueworks LLC increased its position in Air Lease by 1.0% during the first quarter. Valueworks LLC now owns 199,508 shares of the transportation company's stock worth $9,638,000 after acquiring an additional 1,895 shares during the period. Finally, Resolute Capital Asset Partners LLC bought a new position in Air Lease during the first quarter worth $3,661,000. Institutional investors own 94.59% of the company's stock.

Insider Activity at Air Lease

In other news, EVP David Beker sold 2,000 shares of the business'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 owned 19,770 shares in the company, valued at approximately $1,096,048.80. The trade was a 9.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 6.80% of the company's stock.

Air Lease Stock Performance

AL traded down $0.53 during trading on Monday, reaching $60.13. 560,927 shares of the company's stock were exchanged, compared to its average volume of 776,420. Air Lease Corporation has a fifty-two week low of $38.25 and a fifty-two week high of $61.10. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 2.47. The business has a 50 day moving average price of $57.85 and a 200 day moving average price of $52.67. The company has a market capitalization of $6.72 billion, a P/E ratio of 7.30, a PEG ratio of 0.62 and a beta of 1.37.

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

Air Lease Dividend Announcement

The company also recently announced 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 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Wednesday, September 3rd. Air Lease's payout ratio is currently 10.68%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AL. Citigroup raised shares of Air Lease from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $45.00 to $68.00 in a research report on Tuesday, May 20th. Wall Street Zen raised shares of Air Lease from a "hold" rating to a "buy" rating in a research report on Wednesday, May 7th. Finally, Barclays reiterated an "overweight" rating and set a $67.00 price target (up previously from $56.00) on shares of Air Lease in a research note on Thursday, July 10th. Four research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $59.50.

Air Lease 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.