Strs Ohio Acquires Shares of 36,393 Air Lease Corporation $AL

Key Points

• Strs Ohio invested $1.76 million in Air Lease Corporation, acquiring 36,393 shares during the first quarter of 2023, according to its SEC filing.
• Air Lease reported $1.40 earnings per share (EPS) for the latest quarter, exceeding expectations and indicating a year-over-year revenue increase of 9.7% to $731.70 million.
• The company also announced a quarterly dividend of $0.22 per share, with an annualized yield of 1.4%, payable on October 8th, 2023.

Strs Ohio purchased a new stake in shares of Air Lease Corporation (NYSE:AL - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 36,393 shares of the transportation company's stock, valued at approximately $1,758,000.

Several other institutional investors also recently modified their holdings of the business. Alpine Bank Wealth Management bought a new stake in shares of Air Lease in the 1st quarter valued at about $25,000. Brooklyn Investment Group lifted its stake in shares of Air Lease by 152.4% in the first quarter. Brooklyn Investment Group now owns 588 shares of the transportation company's stock worth $28,000 after acquiring an additional 355 shares during the period. Versant Capital Management Inc boosted its holdings in Air Lease by 88.1% in 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 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 valued at $43,000 after purchasing an additional 647 shares during the period. Finally, Fourth Dimension Wealth LLC bought a new position in Air Lease during the 4th quarter worth approximately $52,000. Institutional investors own 94.59% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Cowen cut shares of Air Lease from a "buy" rating to a "hold" rating in a research report on Wednesday, September 3rd. Barclays reiterated an "overweight" rating and set a $67.00 price target (up from $56.00) on shares of Air Lease in a report on Thursday, July 10th. TD Cowen downgraded Air Lease from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, September 3rd. Finally, Deutsche Bank Aktiengesellschaft lowered Air Lease from a "buy" rating to a "hold" rating and set a $65.00 target price 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 issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $60.29.

Air Lease Stock Down 0.0%

Air Lease stock traded down $0.03 during midday trading on Friday, reaching $63.53. The stock had a trading volume of 1,311,393 shares, compared to its average volume of 1,099,858. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 2.47. Air Lease Corporation has a 12 month low of $38.25 and a 12 month high of $64.30. The company has a fifty day moving average price of $59.26 and a two-hundred day moving average price of $54.04. The company has a market capitalization of $7.10 billion, a P/E ratio of 7.71, a PEG ratio of 0.66 and a beta of 1.37.

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

Air Lease Dividend Announcement

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

Insiders Place Their Bets

In other Air Lease news, EVP Grant A. Levy sold 5,000 shares of the company's stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $63.57, for a total value of $317,850.00. Following the completion of the sale, the executive vice president directly owned 141,316 shares of the company's stock, valued at approximately $8,983,458.12. This represents a 3.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP David Beker sold 5,000 shares of the stock in a transaction dated 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 approximately $887,514.10. This trade represents a 26.36% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,000 shares of company stock worth $746,380 over the last ninety days. Insiders own 6.64% of the company's stock.

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.