Air Lease Co. (NYSE:AL) Shares Sold by Sanctuary Advisors LLC

Sanctuary Advisors LLC lessened its stake in shares of Air Lease Co. (NYSE:AL) by 51.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,296 shares of the transportation company’s stock after selling 19,349 shares during the quarter. Sanctuary Advisors LLC’s holdings in Air Lease were worth $829,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Eastern Bank acquired a new stake in Air Lease in the 3rd quarter valued at about $27,000. Altshuler Shaham Ltd acquired a new stake in Air Lease during the second quarter valued at approximately $29,000. GAMMA Investing LLC boosted its holdings in Air Lease by 55.5% during the third quarter. GAMMA Investing LLC now owns 1,868 shares of the transportation company’s stock worth $85,000 after buying an additional 667 shares in the last quarter. KBC Group NV grew its position in Air Lease by 20.0% in the third quarter. KBC Group NV now owns 3,345 shares of the transportation company’s stock worth $151,000 after buying an additional 557 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in shares of Air Lease by 12.6% in the third quarter. BNP Paribas Financial Markets now owns 3,468 shares of the transportation company’s stock valued at $157,000 after buying an additional 389 shares in the last quarter. 94.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on AL shares. The Goldman Sachs Group restated a “buy” rating and issued a $65.00 target price on shares of Air Lease in a report on Thursday, November 21st. JPMorgan Chase & Co. lifted their price target on Air Lease from $52.00 to $56.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 12th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Air Lease has an average rating of “Moderate Buy” and an average price target of $57.60.

Air Lease Stock Performance

Shares of Air Lease stock opened at $48.61 on Tuesday. Air Lease Co. has a 12 month low of $39.15 and a 12 month high of $52.31. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 2.63. The stock has a market cap of $5.41 billion, a PE ratio of 11.07, a price-to-earnings-growth ratio of 1.55 and a beta of 1.61. The business has a fifty day simple moving average of $47.84 and a 200-day simple moving average of $46.35.

Air Lease Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Thursday, December 12th will be given a dividend of $0.22 per share. The ex-dividend date is Thursday, December 12th. This is a positive change from Air Lease’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a yield of 1.81%. Air Lease’s dividend payout ratio (DPR) is presently 20.05%.

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.