Global Assets Advisory LLC Purchases Shares of 18,681 Air Lease Co. (NYSE:AL)

Global Assets Advisory LLC acquired a new position in shares of Air Lease Co. (NYSE:AL) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 18,681 shares of the transportation company’s stock, valued at approximately $961,000.

Several other hedge funds also recently modified their holdings of AL. Janney Montgomery Scott LLC acquired a new stake in Air Lease in the third quarter worth $264,000. Rhumbline Advisers grew its stake in shares of Air Lease by 2.1% in the 3rd quarter. Rhumbline Advisers now owns 117,134 shares of the transportation company’s stock valued at $4,616,000 after buying an additional 2,423 shares during the period. Hsbc Holdings PLC bought a new stake in Air Lease in the 3rd quarter valued at about $245,000. Mariner LLC raised its stake in Air Lease by 2.1% during the 3rd quarter. Mariner LLC now owns 17,716 shares of the transportation company’s stock worth $698,000 after buying an additional 361 shares during the period. Finally, Northern Trust Corp boosted its holdings in Air Lease by 8.7% in the third quarter. Northern Trust Corp now owns 1,082,070 shares of the transportation company’s stock worth $42,644,000 after acquiring an additional 86,353 shares in the last quarter. Institutional investors own 94.59% of the company’s stock.

Air Lease Stock Performance

Shares of AL stock opened at $47.86 on Thursday. The company has a debt-to-equity ratio of 2.69, a current ratio of 0.48 and a quick ratio of 0.48. The firm has a 50-day moving average of $48.33 and a 200-day moving average of $45.18. Air Lease Co. has a one year low of $33.33 and a one year high of $52.31. The company has a market cap of $5.33 billion, a P/E ratio of 9.65, a P/E/G ratio of 0.91 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 (EPS) for the quarter, missing the consensus estimate of $0.94 by ($0.07). The business had revenue of $663.31 million during 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 was up 4.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.06 earnings per share. Equities research analysts forecast that Air Lease Co. will post 6.96 EPS for the current fiscal year.

Air Lease Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 8th. Investors of record on Tuesday, June 4th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $0.84 dividend on an annualized basis and a yield of 1.76%. Air Lease’s dividend payout ratio (DPR) is presently 16.94%.

Wall Street Analysts Forecast Growth

AL has been the subject of several recent research reports. TD Cowen decreased their price objective on Air Lease from $59.00 to $56.00 and set a “buy” rating for the company in a report on Tuesday, May 7th. Barclays upped their price objective on shares of Air Lease from $48.00 to $55.00 and gave the stock an “overweight” rating in a report on Tuesday, April 16th. Finally, StockNews.com cut shares of Air Lease from a “buy” rating to a “hold” rating in a report on Friday, March 29th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $53.80.

Air Lease Profile

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.