Park Place Capital Corp Decreases Stake in Air Lease Co. (NYSE:AL)

Park Place Capital Corp lowered its stake in shares of Air Lease Co. (NYSE:AL) by 52.5% in the first quarter, Holdings Channel reports. The institutional investor owned 944 shares of the transportation company’s stock after selling 1,043 shares during the period. Park Place Capital Corp’s holdings in Air Lease were worth $49,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in AL. Overbrook Management Corp acquired a new stake in Air Lease during the 1st quarter worth about $952,000. Wealth Enhancement Advisory Services LLC grew its position in shares of Air Lease by 6.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 32,931 shares of the transportation company’s stock valued at $1,694,000 after acquiring an additional 1,970 shares during the period. Global Assets Advisory LLC acquired a new stake in shares of Air Lease during the 1st quarter valued at about $961,000. Fulton Bank N.A. grew its position in shares of Air Lease by 10.7% during the 1st quarter. Fulton Bank N.A. now owns 8,794 shares of the transportation company’s stock valued at $452,000 after acquiring an additional 847 shares during the period. Finally, Alaska Permanent Fund Corp grew its position in shares of Air Lease by 5.5% during the 1st quarter. Alaska Permanent Fund Corp now owns 60,418 shares of the transportation company’s stock valued at $3,108,000 after acquiring an additional 3,143 shares during the period. Hedge funds and other institutional investors own 94.59% of the company’s stock.

Analysts Set New Price Targets

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

Air Lease Trading Down 1.9 %

Shares of AL opened at $46.63 on Tuesday. Air Lease Co. has a 12-month low of $33.33 and a 12-month high of $52.31. The firm has a market capitalization of $5.19 billion, a P/E ratio of 9.40, a P/E/G ratio of 0.90 and a beta of 1.59. The firm has a 50-day moving average price of $48.23 and a 200 day moving average price of $45.36. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 2.69.

Air Lease (NYSE:AL) last posted its quarterly earnings results on Monday, May 6th. The transportation company reported $0.87 earnings per share for the quarter, missing the consensus estimate of $0.94 by ($0.07). The firm had revenue of $663.31 million during the quarter, compared to analysts’ expectations of $677.26 million. Air Lease had a net margin of 21.89% and a return on equity of 9.00%. The business’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period last year, the company earned $1.06 EPS. Sell-side analysts forecast that Air Lease Co. will post 6.96 EPS 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 is Tuesday, June 4th. This represents a $0.84 annualized dividend and a yield of 1.80%. Air Lease’s dividend payout ratio (DPR) is 16.94%.

Air Lease 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.