Air Lease Corporation (AL) Shares Bought by California Public Employees Retirement System

California Public Employees Retirement System grew its stake in Air Lease Corporation (NYSE:AL) by 5.8% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 190,200 shares of the transportation company’s stock after acquiring an additional 10,400 shares during the period. California Public Employees Retirement System owned about 0.18% of Air Lease Corporation worth $7,106,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in AL. Nationwide Fund Advisors grew its holdings in shares of Air Lease Corporation by 49.6% in the first quarter. Nationwide Fund Advisors now owns 23,167 shares of the transportation company’s stock valued at $898,000 after purchasing an additional 7,682 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Air Lease Corporation by 1.6% in the first quarter. Bank of New York Mellon Corp now owns 492,147 shares of the transportation company’s stock valued at $19,071,000 after purchasing an additional 7,699 shares in the last quarter. UBS Asset Management Americas Inc. grew its holdings in shares of Air Lease Corporation by 17.4% in the first quarter. UBS Asset Management Americas Inc. now owns 71,921 shares of the transportation company’s stock valued at $2,787,000 after purchasing an additional 10,662 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Air Lease Corporation by 409.2% in the first quarter. Ameriprise Financial Inc. now owns 80,579 shares of the transportation company’s stock valued at $3,123,000 after purchasing an additional 64,753 shares in the last quarter. Finally, Parametric Portfolio Associates LLC grew its holdings in shares of Air Lease Corporation by 11.9% in the first quarter. Parametric Portfolio Associates LLC now owns 123,878 shares of the transportation company’s stock valued at $4,800,000 after purchasing an additional 13,145 shares in the last quarter. 92.11% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts recently weighed in on AL shares. Morgan Stanley lifted their price objective on shares of Air Lease Corporation from $40.00 to $42.00 in a report on Tuesday, July 4th. Barclays PLC started coverage on shares of Air Lease Corporation in a report on Monday, July 10th. They issued an “overweight” rating and a $48.00 price objective for the company. Zacks Investment Research upgraded shares of Air Lease Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 10th. BidaskClub upgraded shares of Air Lease Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, July 11th. Finally, Cowen and Company lifted their price objective on shares of Air Lease Corporation from $41.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, August 4th. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $49.75.

In other news, EVP Alex A. Khatibi sold 11,000 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $40.00, for a total transaction of $440,000.00. Following the completion of the sale, the executive vice president now owns 142,786 shares of the company’s stock, valued at $5,711,440. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Marc H. Baer sold 7,562 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $39.72, for a total transaction of $300,362.64. Following the sale, the executive vice president now directly owns 132,001 shares of the company’s stock, valued at approximately $5,243,079.72. The disclosure for this sale can be found here. Insiders have sold 32,562 shares of company stock worth $1,342,363 in the last quarter. Insiders own 9.76% of the company’s stock.

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Air Lease Corporation (NYSE:AL) last posted its quarterly earnings data on Thursday, August 3rd. The transportation company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.08. The company had revenue of $380.59 million for the quarter, compared to analyst estimates of $375.14 million. Air Lease Corporation had a net margin of 25.64% and a return on equity of 10.99%. The business’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.39 earnings per share.

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 6th. Stockholders of record on Wednesday, September 13th were paid a dividend of $0.075 per share. The ex-dividend date of this dividend was Tuesday, September 12th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.68%. Air Lease Corporation’s dividend payout ratio is currently 8.70%.

About Air Lease Corporation

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.

Institutional Ownership by Quarter for Air Lease Corporation (NYSE:AL)

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