Peregrine Capital Management LLC reduced its stake in shares of Air Lease Corp (NYSE:AL) by 7.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 295,426 shares of the transportation company’s stock after selling 23,193 shares during the quarter. Peregrine Capital Management LLC’s holdings in Air Lease were worth $14,207,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. QS Investors LLC grew its position in Air Lease by 0.6% during the second quarter. QS Investors LLC now owns 3,464 shares of the transportation company’s stock worth $129,000 after buying an additional 21 shares during the period. Suntrust Banks Inc. raised its stake in shares of Air Lease by 0.9% in the 2nd quarter. Suntrust Banks Inc. now owns 12,844 shares of the transportation company’s stock valued at $479,000 after acquiring an additional 119 shares during the period. Advisory Services Network LLC raised its stake in shares of Air Lease by 0.8% in the 2nd quarter. Advisory Services Network LLC now owns 23,589 shares of the transportation company’s stock valued at $881,000 after acquiring an additional 198 shares during the period. HighTower Advisors LLC raised its stake in shares of Air Lease by 2.9% in the 2nd quarter. HighTower Advisors LLC now owns 50,613 shares of the transportation company’s stock valued at $1,878,000 after acquiring an additional 1,437 shares during the period. Finally, Mastrapasqua Asset Management Inc. raised its stake in shares of Air Lease by 5.9% in the 3rd quarter. Mastrapasqua Asset Management Inc. now owns 33,380 shares of the transportation company’s stock valued at $1,423,000 after acquiring an additional 1,870 shares during the period. Institutional investors own 91.83% of the company’s stock.
A number of equities analysts have recently commented on the stock. Zacks Investment Research raised shares of Air Lease from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research note on Tuesday, January 9th. ValuEngine downgraded shares of Air Lease from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Citigroup assumed coverage on shares of Air Lease in a research note on Friday, December 8th. They issued a “neutral” rating and a $46.00 target price on the stock. Royal Bank of Canada reissued a “buy” rating and issued a $80.00 target price on shares of Air Lease in a research note on Thursday, November 2nd. Finally, Bank of America set a $47.00 target price on shares of Air Lease and gave the company a “hold” rating in a research note on Thursday, October 19th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $49.40.
Air Lease (NYSE:AL) last released its quarterly earnings results on Thursday, November 9th. The transportation company reported $0.90 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.87 by $0.03. The business had revenue of $376.77 million during the quarter, compared to analyst estimates of $374.61 million. Air Lease had a net margin of 25.67% and a return on equity of 10.87%. The business’s revenue was up 6.1% on a year-over-year basis. During the same period last year, the business earned $1.43 EPS. equities analysts anticipate that Air Lease Corp will post 3.44 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, January 4th. Investors of record on Thursday, December 14th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.80%. This is a positive change from Air Lease’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Wednesday, December 13th. Air Lease’s dividend payout ratio (DPR) is presently 11.46%.
In related news, EVP Marc H. Baer sold 5,000 shares of the firm’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $44.13, for a total transaction of $220,650.00. Following the completion of the sale, the executive vice president now directly owns 127,001 shares of the company’s stock, valued at approximately $5,604,554.13. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Kishore Korde sold 2,000 shares of the firm’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $40.80, for a total transaction of $81,600.00. Following the transaction, the executive vice president now directly owns 84,410 shares of the company’s stock, valued at $3,443,928. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 379,000 shares of company stock valued at $15,939,110. Company insiders own 9.76% of the company’s stock.
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About Air Lease
Air Lease Corporation is an aircraft leasing company. The Company is principally engaged in purchasing new commercial jet transport aircraft directly from aircraft manufacturers, such as The Boeing Company (Boeing) and Airbus SAS. (Airbus), and leasing those aircraft to airlines across the world. Along with its leasing activities, the Company sells aircraft from its operating lease portfolio to third parties, including other leasing companies, financial services companies and airlines.
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