Park Avenue Securities LLC Sells 12,288 Shares of Air Lease Corporation $AL

Park Avenue Securities LLC cut its position in shares of Air Lease Corporation (NYSE:AL) by 70.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,202 shares of the transportation company’s stock after selling 12,288 shares during the quarter. Park Avenue Securities LLC’s holdings in Air Lease were worth $334,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in AL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Air Lease by 21.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 50,569 shares of the transportation company’s stock worth $2,443,000 after buying an additional 9,056 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Air Lease by 1,675.1% in the first quarter. Millennium Management LLC now owns 204,000 shares of the transportation company’s stock valued at $9,855,000 after acquiring an additional 192,508 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in shares of Air Lease by 493.5% in the first quarter. Jones Financial Companies Lllp now owns 8,884 shares of the transportation company’s stock valued at $429,000 after acquiring an additional 7,387 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Air Lease by 5.0% during the first quarter. Goldman Sachs Group Inc. now owns 326,717 shares of the transportation company’s stock valued at $15,784,000 after acquiring an additional 15,629 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Air Lease by 16.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 298,275 shares of the transportation company’s stock worth $14,410,000 after acquiring an additional 41,912 shares during the period. 94.59% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on AL shares. Weiss Ratings reissued a “buy (b)” rating on shares of Air Lease in a research report on Wednesday, January 21st. Zacks Research raised Air Lease from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 18th. Finally, Barclays reiterated an “equal weight” rating and set a $65.00 target price (down from $68.00) on shares of Air Lease in a research note on Tuesday, January 6th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Air Lease presently has an average rating of “Moderate Buy” and an average target price of $66.00.

Air Lease Trading Down 0.0%

Shares of AL stock opened at $64.79 on Monday. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 2.33. The firm has a market cap of $7.26 billion, a P/E ratio of 6.96, a PEG ratio of 0.54 and a beta of 1.11. The company has a 50 day moving average of $64.65 and a 200-day moving average of $64.14. Air Lease Corporation has a 12-month low of $38.25 and a 12-month high of $64.96.

Air Lease (NYSE:AL) last posted its quarterly earnings data on Thursday, February 12th. The transportation company reported $2.20 EPS for the quarter, beating the consensus estimate of $1.46 by $0.74. Air Lease had a return on equity of 8.54% and a net margin of 35.72%.The business had revenue of $679.54 million for the quarter, compared to the consensus estimate of $782.67 million. During the same quarter in the prior year, the business earned $0.83 earnings per share. Air Lease’s revenue for the quarter was up 15.1% on a year-over-year basis. Sell-side analysts anticipate that Air Lease Corporation will post 5.16 earnings per share for the current year.

Air Lease Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 7th. Stockholders of record on Monday, March 2nd will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Monday, March 2nd. Air Lease’s dividend payout ratio is currently 9.45%.

About Air Lease

Air Lease Corporation (NYSE: AL) is a leading aircraft leasing company that acquires commercial jet aircraft and leases them to airlines worldwide. The firm’s core business activities include direct aircraft acquisition, lease management and portfolio remarketing. By structuring sale‐and‐leaseback transactions, operating leases and secured loans, Air Lease provides flexible financing solutions that enable carriers to modernize their fleets without committing large amounts of capital to ownership.

Founded in 2010 and headquartered in Los Angeles, Air Lease Corporation serves a diverse customer base spanning North America, Europe, Asia, Latin America and the Middle East.