PNC Financial Services Group Inc. lowered its stake in shares of Air Lease Corp. (NYSE:AL) by 22.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,713 shares of the company’s stock after selling 2,487 shares during the period. PNC Financial Services Group Inc.’s holdings in Air Lease Corp. were worth $232,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in the stock. LS Investment Advisors LLC purchased a new stake in shares of Air Lease Corp. during the second quarter worth about $102,000. Monetary Management Group Inc. boosted its stake in Air Lease Corp. by 17.9% in the first quarter. Monetary Management Group Inc. now owns 3,300 shares of the company’s stock valued at $106,000 after buying an additional 500 shares in the last quarter. Glenmede Trust Co. NA bought a new stake in Air Lease Corp. during the second quarter valued at approximately $137,000. Meeder Asset Management Inc. boosted its stake in Air Lease Corp. by 19,977.8% in the second quarter. Meeder Asset Management Inc. now owns 5,421 shares of the company’s stock valued at $145,000 after buying an additional 5,394 shares in the last quarter. Finally, Bank of Montreal Can bought a new stake in Air Lease Corp. during the second quarter valued at approximately $162,000. 91.53% of the stock is currently owned by institutional investors.
Shares of Air Lease Corp. (NYSE:AL) traded down 0.70% on Monday, reaching $28.38. 303,518 shares of the company’s stock traded hands. Air Lease Corp. has a 12-month low of $22.47 and a 12-month high of $35.22. The stock has a 50-day moving average price of $28.42 and a 200-day moving average price of $29.29. The company has a market cap of $2.92 billion, a PE ratio of 9.01 and a beta of 1.59.
Air Lease Corp. (NYSE:AL) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.84 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.02. Air Lease Corp. had a net margin of 25.70% and a return on equity of 14.72%. The business had revenue of $350.10 million for the quarter, compared to analysts’ expectations of $349.19 million. During the same quarter in the previous year, the business posted $0.70 earnings per share. The business’s revenue was up 14.9% compared to the same quarter last year. Equities research analysts anticipate that Air Lease Corp. will post $3.39 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 6th. Shareholders of record on Monday, September 12th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date is Thursday, September 8th. Air Lease Corp.’s dividend payout ratio (DPR) is 6.37%.
AL has been the subject of several research analyst reports. Zacks Investment Research raised shares of Air Lease Corp. from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research report on Wednesday, June 29th. FBR & Co reaffirmed a “buy” rating and issued a $35.00 target price on shares of Air Lease Corp. in a research report on Monday, September 19th. Finally, TheStreet cut shares of Air Lease Corp. from a “buy” rating to a “hold” rating in a research report on Monday, June 13th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $44.44.
About Air Lease Corp.
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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