Basswood Capital Management L.L.C. lifted its stake in shares of Air Lease Corp (NYSE:AL) by 20.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,314,957 shares of the transportation company’s stock after purchasing an additional 219,257 shares during the quarter. Air Lease comprises about 2.3% of Basswood Capital Management L.L.C.’s investment portfolio, making the stock its 11th largest position. Basswood Capital Management L.L.C. owned approximately 1.26% of Air Lease worth $39,725,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors also recently bought and sold shares of AL. Douglas Lane & Associates LLC grew its stake in Air Lease by 5.4% in the 4th quarter. Douglas Lane & Associates LLC now owns 1,279,721 shares of the transportation company’s stock valued at $38,660,000 after acquiring an additional 65,558 shares during the last quarter. Man Group plc acquired a new stake in Air Lease in the 3rd quarter valued at about $1,152,000. Fifth Third Bancorp acquired a new stake in Air Lease in the 3rd quarter valued at about $1,371,000. Franklin Resources Inc. acquired a new stake in Air Lease in the 3rd quarter valued at about $2,786,000. Finally, Gagnon Securities LLC grew its stake in Air Lease by 16.3% in the 4th quarter. Gagnon Securities LLC now owns 732,515 shares of the transportation company’s stock valued at $22,129,000 after acquiring an additional 102,713 shares during the last quarter. 90.39% of the stock is currently owned by institutional investors and hedge funds.
AL has been the topic of a number of research reports. TheStreet raised shares of Air Lease from a “c+” rating to a “b-” rating in a research note on Wednesday, January 30th. ValuEngine cut shares of Air Lease from a “hold” rating to a “sell” rating in a research note on Saturday, December 15th. Barclays set a $50.00 price objective on shares of Air Lease and gave the company a “buy” rating in a research note on Friday, December 14th. Cowen reissued a “buy” rating and issued a $54.00 price objective on shares of Air Lease in a research note on Friday, November 30th. Finally, Zacks Investment Research cut shares of Air Lease from a “buy” rating to a “hold” rating in a research note on Thursday, December 6th. One analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $56.00.
Air Lease stock opened at $33.84 on Friday. Air Lease Corp has a 12-month low of $28.13 and a 12-month high of $47.34. The stock has a market cap of $3.75 billion, a price-to-earnings ratio of 7.36, a PEG ratio of 0.74 and a beta of 2.03. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.85 and a current ratio of 0.85.
Air Lease (NYSE:AL) last released its quarterly earnings results on Thursday, February 21st. The transportation company reported $1.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.23 by $0.01. Air Lease had a net margin of 30.41% and a return on equity of 11.45%. The company had revenue of $449.98 million for the quarter, compared to analysts’ expectations of $457.55 million. As a group, equities research analysts expect that Air Lease Corp will post 5.56 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 10th. Shareholders of record on Wednesday, March 20th will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Tuesday, March 19th. This represents a $0.52 annualized dividend and a dividend yield of 1.54%. Air Lease’s dividend payout ratio is currently 11.30%.
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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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