Air Lease Corp (AL) Position Raised by New York State Common Retirement Fund

New York State Common Retirement Fund increased its holdings in Air Lease Corp (NYSE:AL) by 3.5% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 210,300 shares of the transportation company’s stock after buying an additional 7,200 shares during the period. New York State Common Retirement Fund owned 0.20% of Air Lease worth $6,353,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of AL. Penserra Capital Management LLC bought a new position in Air Lease in the fourth quarter valued at $27,000. First Mercantile Trust Co. increased its stake in Air Lease by 41.5% in the fourth quarter. First Mercantile Trust Co. now owns 920 shares of the transportation company’s stock valued at $28,000 after acquiring an additional 270 shares during the last quarter. SeaBridge Investment Advisors LLC bought a new position in Air Lease in the fourth quarter valued at $30,000. First Interstate Bank bought a new position in Air Lease in the fourth quarter valued at $36,000. Finally, SRS Capital Advisors Inc. increased its stake in Air Lease by 24.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 2,348 shares of the transportation company’s stock valued at $71,000 after acquiring an additional 454 shares during the last quarter. Institutional investors own 90.39% of the company’s stock.

Shares of NYSE:AL opened at $34.74 on Friday. Air Lease Corp has a 12-month low of $28.13 and a 12-month high of $47.34. The stock has a market cap of $3.88 billion, a PE ratio of 7.55, a P/E/G ratio of 0.74 and a beta of 2.03. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 2.40.

Air Lease (NYSE:AL) last announced its quarterly earnings data on Thursday, February 21st. The transportation company reported $1.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.23 by $0.01. Air Lease had a return on equity of 11.45% and a net margin of 30.41%. The firm had revenue of $449.98 million for the quarter, compared to analysts’ expectations of $457.55 million. As a group, analysts anticipate that Air Lease Corp will post 5.56 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 10th. Investors of record on Wednesday, March 20th will be paid a $0.13 dividend. The ex-dividend date is Tuesday, March 19th. This represents a $0.52 annualized dividend and a dividend yield of 1.50%. Air Lease’s payout ratio is presently 11.30%.

A number of research firms recently commented on AL. Cowen reissued a “buy” rating and issued a $54.00 target price on shares of Air Lease in a research note on Friday, November 30th. Zacks Investment Research cut Air Lease from a “buy” rating to a “hold” rating in a research note on Wednesday, November 21st. TheStreet raised Air Lease from a “c+” rating to a “b-” rating in a research note on Wednesday, January 30th. ValuEngine raised Air Lease from a “strong sell” rating to a “sell” rating in a research note on Wednesday, January 9th. Finally, Barclays set a $50.00 price objective on Air Lease and gave the company a “buy” rating in a research note on Friday, December 14th. One analyst has rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $56.00.

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Air Lease Company Profile

Air Lease Corporation, an aircraft leasing company, engages in the purchase and leasing of commercial jet transport aircraft to airlines worldwide. The company also sells aircraft from its operating lease portfolio to third parties, including other leasing companies, financial services companies, and airlines.

Further Reading: Technical Analysis

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

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