Alaska Permanent Fund Corp Increases Stock Position in Air Lease Co. (NYSE:AL)

Alaska Permanent Fund Corp lifted its holdings in Air Lease Co. (NYSE:AL) by 5.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,418 shares of the transportation company’s stock after buying an additional 3,143 shares during the quarter. Alaska Permanent Fund Corp owned approximately 0.05% of Air Lease worth $3,108,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Mather Group LLC. bought a new stake in Air Lease in the first quarter worth $31,000. Neo Ivy Capital Management purchased a new position in Air Lease in the third quarter worth about $40,000. Hexagon Capital Partners LLC lifted its position in Air Lease by 1,341.4% in the 4th quarter. Hexagon Capital Partners LLC now owns 1,254 shares of the transportation company’s stock valued at $53,000 after acquiring an additional 1,167 shares in the last quarter. Principal Securities Inc. bought a new position in shares of Air Lease during the fourth quarter valued at $77,000. Finally, SRS Capital Advisors Inc. increased its holdings in Air Lease by 38.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 2,452 shares of the transportation company’s stock worth $103,000 after buying an additional 683 shares in the last quarter. 94.59% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on AL. StockNews.com lowered shares of Air Lease from a “buy” rating to a “hold” rating in a research report on Friday, March 29th. TD Cowen cut their price objective on shares of Air Lease from $59.00 to $56.00 and set a “buy” rating for the company in a research report on Tuesday, May 7th. Finally, Barclays increased their price objective on shares of Air Lease from $48.00 to $55.00 and gave the company an “overweight” rating in a report on Tuesday, April 16th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Air Lease currently has an average rating of “Moderate Buy” and a consensus price target of $53.80.

Air Lease Stock Up 0.2 %

Shares of NYSE:AL opened at $46.41 on Friday. The company has a 50-day moving average price of $48.40 and a 200 day moving average price of $44.90. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 2.69. Air Lease Co. has a 12 month low of $33.33 and a 12 month high of $52.31. The company has a market cap of $5.17 billion, a price-to-earnings ratio of 9.36, a PEG ratio of 0.76 and a beta of 1.62.

Air Lease (NYSE:AL) last released its earnings results on Monday, May 6th. The transportation company reported $0.87 earnings per share for the quarter, missing the consensus estimate of $0.94 by ($0.07). The company had revenue of $663.31 million for the quarter, compared to the consensus estimate of $677.26 million. Air Lease had a net margin of 21.89% and a return on equity of 9.00%. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.06 EPS. As a group, equities research analysts predict that Air Lease Co. will post 6.96 earnings per share for the current year.

Air Lease Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 8th. Stockholders of record on Tuesday, June 4th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $0.84 annualized dividend and a dividend yield of 1.81%. Air Lease’s dividend payout ratio (DPR) is presently 16.94%.

About Air Lease

Air Lease Corporation, an aircraft leasing company, engages in the purchase and leasing of commercial jet aircraft to airlines worldwide. It sells aircraft from its fleet to third parties, including other leasing companies, financial services companies, airlines, and other investors. The company provides fleet management services to investors and owners of aircraft portfolios.