Ellis Investment Partners LLC Lowers Stock Holdings in Air Lease Co. (NYSE:AL)

Ellis Investment Partners LLC lowered its holdings in shares of Air Lease Co. (NYSE:AL) by 4.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 69,240 shares of the transportation company’s stock after selling 3,016 shares during the quarter. Air Lease makes up 0.8% of Ellis Investment Partners LLC’s holdings, making the stock its 26th largest position. Ellis Investment Partners LLC owned about 0.06% of Air Lease worth $3,562,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of AL. Mather Group LLC. purchased a new position in shares of Air Lease in the first quarter valued at approximately $31,000. Neo Ivy Capital Management purchased a new position in shares of Air Lease in the third quarter valued at approximately $40,000. Hexagon Capital Partners LLC lifted its position in shares of Air Lease by 1,341.4% in the fourth quarter. Hexagon Capital Partners LLC now owns 1,254 shares of the transportation company’s stock valued at $53,000 after acquiring an additional 1,167 shares in the last quarter. Principal Securities Inc. purchased a new position in shares of Air Lease in the fourth quarter valued at approximately $77,000. Finally, SRS Capital Advisors Inc. lifted its position in shares of Air Lease by 38.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 2,452 shares of the transportation company’s stock valued at $103,000 after acquiring an additional 683 shares in the last quarter. Hedge funds and other institutional investors own 94.59% of the company’s stock.

Air Lease Price Performance

AL stock opened at $47.99 on Thursday. The business has a fifty day moving average of $48.33 and a two-hundred day moving average of $45.18. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 2.69. The stock has a market cap of $5.34 billion, a price-to-earnings ratio of 9.65, a price-to-earnings-growth ratio of 0.91 and a beta of 1.62. Air Lease Co. has a 52-week low of $33.33 and a 52-week high of $52.31.

Air Lease (NYSE:AL) last posted 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 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%. Air Lease’s revenue was up 4.3% compared to the same quarter last year. During the same period last year, the business earned $1.06 EPS. As a group, research analysts anticipate that Air Lease Co. will post 6.96 earnings per share for the current year.

Air Lease Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 8th. Shareholders of record on Tuesday, June 4th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $0.84 annualized dividend and a yield of 1.75%. Air Lease’s dividend payout ratio (DPR) is 16.94%.

Wall Street Analysts Forecast Growth

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

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.