UBS Asset Management Americas Inc. boosted its position in Air Lease Corp. (NYSE:AL) by 9.2% during the second quarter, Holdings Channel reports. The firm owned 87,385 shares of the company’s stock after buying an additional 7,392 shares during the period. UBS Asset Management Americas Inc. owned approximately 0.08% of Air Lease Corp. worth $2,339,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently made changes to their positions in the company. Boston Partners raised its position in Air Lease Corp. by 84.8% in the second quarter. Boston Partners now owns 2,139,606 shares of the company’s stock worth $57,299,000 after buying an additional 982,056 shares during the period. Royce & Associates LP raised its position in Air Lease Corp. by 30.4% in the first quarter. Royce & Associates LP now owns 1,921,521 shares of the company’s stock worth $61,719,000 after buying an additional 448,061 shares during the period. Pekin Singer Strauss Asset Management IL bought a new position in Air Lease Corp. during the second quarter worth approximately $9,416,000. Chicago Equity Partners LLC bought a new position in Air Lease Corp. during the second quarter worth approximately $7,449,000. Finally, Prudential Financial Inc. raised its position in Air Lease Corp. by 369.3% in the first quarter. Prudential Financial Inc. now owns 352,899 shares of the company’s stock worth $11,335,000 after buying an additional 277,700 shares during the period. Institutional investors own 91.53% of the company’s stock.
Air Lease Corp. (NYSE:AL) traded up 1.90% during midday trading on Friday, hitting $29.50. The company had a trading volume of 1,476,118 shares. The firm’s 50 day moving average is $28.56 and its 200-day moving average is $29.17. Air Lease Corp. has a 52 week low of $22.47 and a 52 week high of $35.22. The firm has a market capitalization of $3.03 billion, a P/E ratio of 9.37 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 EPS for the quarter, beating the consensus estimate of $0.82 by $0.02. Air Lease Corp. had a return on equity of 14.72% and a net margin of 25.70%. The business had revenue of $350.10 million for the quarter, compared to the consensus estimate of $349.19 million. During the same quarter in the prior year, the business earned $0.70 earnings per share. Air Lease Corp.’s revenue for the quarter was up 14.9% on a year-over-year basis. On average, equities research analysts expect that Air Lease Corp. will post $3.39 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 6th. Investors of record on Monday, September 12th were paid a $0.05 dividend. The ex-dividend date was Thursday, September 8th. This represents a $0.20 annualized dividend and a yield of 0.68%. Air Lease Corp.’s payout ratio is 6.37%.
A number of equities research analysts have weighed in on the company. Zacks Investment Research raised Air Lease Corp. from a “hold” rating to a “strong-buy” rating and set a $33.00 target price on the stock in a report on Thursday, July 14th. FBR & Co reaffirmed a “buy” rating and issued a $35.00 target price on shares of Air Lease Corp. in a report on Monday, September 19th. Finally, TheStreet downgraded Air Lease Corp. from a “buy” rating to a “hold” rating in a report on Monday, June 13th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Air Lease Corp. currently has a consensus rating of “Buy” and an average price target 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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