Air Lease Co. (NYSE:AL) Shares Acquired by Public Sector Pension Investment Board

Public Sector Pension Investment Board raised its stake in Air Lease Co. (NYSE:AL) by 7.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 227,921 shares of the transportation company’s stock after buying an additional 16,281 shares during the quarter. Public Sector Pension Investment Board’s holdings in Air Lease were worth $10,833,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in AL. Vanguard Group Inc. increased its stake in Air Lease by 23.6% during the 1st quarter. Vanguard Group Inc. now owns 12,578,106 shares of the transportation company’s stock worth $647,018,000 after buying an additional 2,404,649 shares during the period. Wellington Management Group LLP increased its position in shares of Air Lease by 44.3% in the 4th quarter. Wellington Management Group LLP now owns 4,584,168 shares of the transportation company’s stock valued at $192,260,000 after purchasing an additional 1,407,902 shares during the last quarter. Norges Bank purchased a new stake in shares of Air Lease during the 4th quarter worth $42,482,000. Principal Financial Group Inc. grew its stake in shares of Air Lease by 8,069.3% during the first quarter. Principal Financial Group Inc. now owns 532,886 shares of the transportation company’s stock worth $27,412,000 after purchasing an additional 526,363 shares in the last quarter. Finally, Artemis Investment Management LLP acquired a new stake in Air Lease in the second quarter valued at $22,339,000. 94.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AL has been the subject of a number of research analyst reports. Barclays lowered their price target on Air Lease from $55.00 to $54.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. JPMorgan Chase & Co. dropped their price objective on Air Lease from $54.00 to $52.00 and set an “overweight” rating on the stock in a report on Monday, August 5th. Finally, TD Cowen began coverage on Air Lease in a research report on Monday, July 29th. They set a “buy” rating and a $58.00 target price on the stock. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $54.75.

Air Lease Price Performance

Shares of AL opened at $45.25 on Tuesday. The company has a market capitalization of $5.04 billion, a price-to-earnings ratio of 9.12, a price-to-earnings-growth ratio of 0.91 and a beta of 1.59. Air Lease Co. has a fifty-two week low of $33.33 and a fifty-two week high of $52.31. The firm has a 50-day simple moving average of $45.27 and a 200-day simple moving average of $47.21. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.50 and a current ratio of 0.50.

Air Lease (NYSE:AL) last posted its quarterly earnings data on Thursday, August 1st. The transportation company reported $1.15 earnings per share for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.41). The firm had revenue of $667.29 million during the quarter, compared to analysts’ expectations of $687.93 million. Air Lease had a net margin of 20.85% and a return on equity of 8.97%. On average, equities research analysts anticipate that Air Lease Co. will post 6.68 earnings per share for the current year.

Air Lease Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 9th. Stockholders of record on Friday, September 6th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.86%. The ex-dividend date is Friday, September 6th. Air Lease’s payout ratio is 16.94%.

Air Lease Company 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.