American Assets Investment Management LLC bought a new position in shares of Air Lease Corp (NYSE:AL) during the 3rd quarter, HoldingsChannel reports. The firm bought 10,000 shares of the transportation company’s stock, valued at approximately $461,000.
A number of other institutional investors have also modified their holdings of the business. JPMorgan Chase & Co. boosted its holdings in shares of Air Lease by 1,839.9% in the 1st quarter. JPMorgan Chase & Co. now owns 30,224 shares of the transportation company’s stock valued at $1,287,000 after buying an additional 28,666 shares in the last quarter. Natixis bought a new stake in shares of Air Lease in the 1st quarter valued at about $735,000. Cubist Systematic Strategies LLC bought a new stake in shares of Air Lease in the 1st quarter valued at about $379,000. Millennium Management LLC bought a new stake in shares of Air Lease in the 1st quarter valued at about $9,327,000. Finally, Xact Kapitalforvaltning AB boosted its holdings in shares of Air Lease by 31.7% in the 1st quarter. Xact Kapitalforvaltning AB now owns 12,453 shares of the transportation company’s stock valued at $531,000 after buying an additional 3,000 shares in the last quarter. Institutional investors own 86.49% of the company’s stock.
In other Air Lease news, EVP Grant A. Levy sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of $45.13, for a total transaction of $676,950.00. Following the completion of the transaction, the executive vice president now directly owns 153,399 shares of the company’s stock, valued at approximately $6,922,896.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John D. Poerschke sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $46.90, for a total transaction of $281,400.00. Following the transaction, the executive vice president now directly owns 51,500 shares of the company’s stock, valued at $2,415,350. The disclosure for this sale can be found here. Insiders have sold a total of 31,000 shares of company stock valued at $1,420,550 over the last three months. 9.32% of the stock is currently owned by insiders.
Air Lease (NYSE:AL) last posted its quarterly earnings results on Thursday, August 9th. The transportation company reported $1.04 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.04. Air Lease had a net margin of 51.22% and a return on equity of 10.85%. The company had revenue of $397.80 million during the quarter, compared to analyst estimates of $400.11 million. During the same period last year, the firm posted $1.51 EPS. Air Lease’s revenue for the quarter was up 4.4% compared to the same quarter last year. As a group, analysts predict that Air Lease Corp will post 4.49 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, October 5th. Shareholders of record on Friday, September 14th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date was Thursday, September 13th. Air Lease’s dividend payout ratio is presently 10.96%.
AL has been the topic of a number of recent analyst reports. Zacks Investment Research cut shares of Air Lease from a “hold” rating to a “sell” rating in a report on Monday, August 6th. ValuEngine cut shares of Air Lease from a “hold” rating to a “sell” rating in a report on Tuesday, August 7th. Royal Bank of Canada raised their price target on shares of Air Lease from $91.00 to $93.00 and gave the company a “top pick” rating in a report on Friday, August 10th. Compass Point reiterated a “buy” rating and issued a $58.00 target price on shares of Air Lease in a research note on Sunday, August 12th. Finally, Citigroup lifted their target price on shares of Air Lease from $49.00 to $50.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 15th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Air Lease currently has a consensus rating of “Buy” and a consensus price target of $55.85.
Air Lease Profile
Air Lease Corporation, an aircraft leasing company, engages in the purchase and leasing of commercial jet transport aircraft to airlines worldwide. The company also sells aircraft from its operating lease portfolio to third parties, including other leasing companies, financial services companies, and airlines.
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