Maryland State Retirement & Pension System Has $2.20 Million Stock Position in Air Lease Co. (NYSE:AL)

Maryland State Retirement & Pension System lifted its stake in Air Lease Co. (NYSE:AL) by 459.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 45,301 shares of the transportation company’s stock after acquiring an additional 37,207 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Air Lease were worth $2,198,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in AL. Dimensional Fund Advisors LP raised its position in Air Lease by 2.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,834,987 shares of the transportation company’s stock worth $286,660,000 after acquiring an additional 178,632 shares in the last quarter. Wellington Management Group LLP lifted its stake in Air Lease by 44.3% in the 4th quarter. Wellington Management Group LLP now owns 4,584,168 shares of the transportation company’s stock valued at $192,260,000 after purchasing an additional 1,407,902 shares during the last quarter. Lyrical Asset Management LP grew its holdings in Air Lease by 0.6% during the fourth quarter. Lyrical Asset Management LP now owns 2,169,309 shares of the transportation company’s stock worth $90,981,000 after purchasing an additional 12,735 shares during the period. American Century Companies Inc. boosted its position in Air Lease by 15.7% during the third quarter. American Century Companies Inc. now owns 1,669,291 shares of the transportation company’s stock worth $65,787,000 after purchasing an additional 226,908 shares during the period. Finally, Reinhart Partners LLC. raised its position in shares of Air Lease by 2.1% in the first quarter. Reinhart Partners LLC. now owns 1,431,200 shares of the transportation company’s stock valued at $73,621,000 after purchasing an additional 28,918 shares during the period. Institutional investors own 94.59% of the company’s stock.

Air Lease Price Performance

AL stock traded down $0.17 during trading on Friday, reaching $47.56. 83,742 shares of the company were exchanged, compared to its average volume of 1,124,853. Air Lease Co. has a twelve month low of $33.33 and a twelve month high of $52.31. 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 company has a market capitalization of $5.30 billion, a price-to-earnings ratio of 9.62, a P/E/G ratio of 0.90 and a beta of 1.59. The company has a 50-day moving average of $47.99 and a two-hundred day moving average of $45.44.

Air Lease (NYSE:AL) last announced its quarterly 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 company had revenue of $663.31 million for the quarter, compared to analyst estimates of $677.26 million. Air Lease had a return on equity of 9.00% and a net margin of 21.89%. The firm’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter last year, the company posted $1.06 earnings per share. As a group, equities analysts predict that Air Lease Co. will post 6.96 earnings per share for the current fiscal year.

Air Lease Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 8th. Stockholders of record on Tuesday, June 4th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.77%. The ex-dividend date of this dividend is Tuesday, June 4th. Air Lease’s dividend payout ratio (DPR) is currently 16.94%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on AL shares. StockNews.com cut shares of Air Lease from a “buy” rating to a “hold” rating in a report on Friday, March 29th. Barclays increased their target price on Air Lease from $48.00 to $55.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 16th. Finally, TD Cowen decreased their target price on shares of Air Lease from $59.00 to $56.00 and set a “buy” rating on the stock in a report on Tuesday, May 7th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $53.80.

Air Lease Company 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.