Dimensional Fund Advisors LP trimmed its position in shares of Air Lease Corp (NYSE:AL) by 1.9% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,423,239 shares of the transportation company’s stock after selling 86,065 shares during the quarter. Dimensional Fund Advisors LP owned about 4.28% of Air Lease worth $188,512,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in AL. QS Investors LLC increased its holdings in shares of Air Lease by 0.6% during the second quarter. QS Investors LLC now owns 3,464 shares of the transportation company’s stock valued at $129,000 after acquiring an additional 21 shares in the last quarter. Alps Advisors Inc. increased its holdings in shares of Air Lease by 0.3% during the second quarter. Alps Advisors Inc. now owns 12,316 shares of the transportation company’s stock valued at $460,000 after acquiring an additional 32 shares in the last quarter. Suntrust Banks Inc. increased its holdings in shares of Air Lease by 0.9% during the second quarter. Suntrust Banks Inc. now owns 12,844 shares of the transportation company’s stock valued at $479,000 after acquiring an additional 119 shares in the last quarter. Teacher Retirement System of Texas increased its holdings in shares of Air Lease by 1.7% during the second quarter. Teacher Retirement System of Texas now owns 7,877 shares of the transportation company’s stock valued at $294,000 after acquiring an additional 134 shares in the last quarter. Finally, Advisory Services Network LLC increased its holdings in shares of Air Lease by 0.8% during the second quarter. Advisory Services Network LLC now owns 23,589 shares of the transportation company’s stock valued at $881,000 after acquiring an additional 198 shares in the last quarter. 91.87% of the stock is owned by institutional investors and hedge funds.
In other Air Lease news, EVP Kishore Korde sold 2,000 shares of the firm’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $40.80, for a total value of $81,600.00. Following the transaction, the executive vice president now owns 84,410 shares in the company, valued at approximately $3,443,928. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Marc H. Baer sold 5,000 shares of the firm’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $44.13, for a total value of $220,650.00. Following the completion of the transaction, the executive vice president now owns 127,001 shares in the company, valued at approximately $5,604,554.13. The disclosure for this sale can be found here. Insiders have sold a total of 325,000 shares of company stock worth $13,489,290 in the last quarter. Insiders own 9.76% of the company’s stock.
Air Lease (NYSE:AL) last announced its earnings results on Thursday, November 9th. The transportation company reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. Air Lease had a return on equity of 10.87% and a net margin of 25.67%. The firm had revenue of $376.77 million for the quarter, compared to analyst estimates of $374.61 million. During the same quarter last year, the firm posted $1.43 EPS. The business’s revenue was up 6.1% on a year-over-year basis. analysts expect that Air Lease Corp will post 3.44 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 4th. Stockholders of record on Thursday, December 14th will be given a dividend of $0.10 per share. This is a positive change from Air Lease’s previous quarterly dividend of $0.08. The ex-dividend date is Wednesday, December 13th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.91%. Air Lease’s dividend payout ratio (DPR) is 8.60%.
Several equities analysts recently weighed in on AL shares. Credit Suisse Group increased their price target on shares of Air Lease from $44.00 to $46.00 and gave the stock an “outperform” rating in a report on Friday, November 10th. ValuEngine downgraded shares of Air Lease from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Bank of America set a $47.00 price target on shares of Air Lease and gave the stock a “hold” rating in a report on Thursday, October 19th. Citigroup started coverage on shares of Air Lease in a report on Friday. They issued a “neutral” rating and a $46.00 price target on the stock. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $80.00 price target on shares of Air Lease in a report on Thursday, November 2nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $48.50.
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Air Lease Company Profile
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.
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