Air Lease Co. (NYSE:AL) Stake Decreased by Public Sector Pension Investment Board

Public Sector Pension Investment Board trimmed its holdings in Air Lease Co. (NYSE:AL) by 3.6% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 219,721 shares of the transportation company’s stock after selling 8,200 shares during the quarter. Public Sector Pension Investment Board’s holdings in Air Lease were worth $9,951,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Royce & Associates LP raised its position in shares of Air Lease by 2.5% during the 3rd quarter. Royce & Associates LP now owns 2,875,522 shares of the transportation company’s stock worth $130,232,000 after buying an additional 70,299 shares in the last quarter. American Century Companies Inc. lifted its stake in Air Lease by 5.0% during the second quarter. American Century Companies Inc. now owns 2,433,676 shares of the transportation company’s stock valued at $115,673,000 after purchasing an additional 115,293 shares during the last quarter. Earnest Partners LLC grew its position in Air Lease by 7.4% in the second quarter. Earnest Partners LLC now owns 2,269,280 shares of the transportation company’s stock worth $107,859,000 after buying an additional 155,665 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Air Lease by 5.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 2,119,561 shares of the transportation company’s stock valued at $100,743,000 after buying an additional 101,568 shares in the last quarter. Finally, Copeland Capital Management LLC lifted its position in shares of Air Lease by 0.7% during the 3rd quarter. Copeland Capital Management LLC now owns 1,830,994 shares of the transportation company’s stock valued at $82,926,000 after acquiring an additional 12,441 shares during the last quarter. 94.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AL has been the topic of a number of recent analyst reports. Barclays cut their target price on Air Lease from $55.00 to $54.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. The Goldman Sachs Group restated a “buy” rating and set a $65.00 price objective on shares of Air Lease in a report on Thursday, November 21st. Finally, JPMorgan Chase & Co. upped their price objective on shares of Air Lease from $52.00 to $56.00 and gave the company an “overweight” rating in a research note on Tuesday, November 12th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $57.60.

Air Lease Stock Down 1.0 %

NYSE:AL opened at $50.71 on Friday. The business’s fifty day moving average price is $45.91 and its 200 day moving average price is $46.16. The firm has a market capitalization of $5.65 billion, a price-to-earnings ratio of 11.55, a PEG ratio of 1.61 and a beta of 1.59. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 2.63. Air Lease Co. has a 1-year low of $37.75 and a 1-year high of $52.31.

Air Lease Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Thursday, December 12th will be issued a $0.22 dividend. This is an increase from Air Lease’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.74%. Air Lease’s dividend payout ratio is currently 19.13%.

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.