Teacher Retirement System of Texas boosted its position in shares of Air Lease Corp. (NYSE:AL) by 13.8% during the second quarter, Holdings Channel reports. The firm owned 13,480 shares of the company’s stock after buying an additional 1,634 shares during the period. Teacher Retirement System of Texas’ holdings in Air Lease Corp. were worth $361,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently bought and sold shares of AL. Monetary Management Group Inc. boosted its stake in shares of Air Lease Corp. by 17.9% in the first quarter. Monetary Management Group Inc. now owns 3,300 shares of the company’s stock worth $106,000 after buying an additional 500 shares during the last quarter. LS Investment Advisors LLC acquired a new position in Air Lease Corp. during the second quarter worth $102,000. Glenmede Trust Co. NA acquired a new position in Air Lease Corp. during the second quarter worth $137,000. Meeder Asset Management Inc. raised its position in Air Lease Corp. by 19,977.8% in the second quarter. Meeder Asset Management Inc. now owns 5,421 shares of the company’s stock worth $145,000 after buying an additional 5,394 shares during the period. Finally, Bank of Montreal Can acquired a new position in Air Lease Corp. during the second quarter worth $162,000. Institutional investors own 91.53% of the company’s stock.
Shares of Air Lease Corp. (NYSE:AL) traded down 0.24% during midday trading on Wednesday, hitting $29.52. The stock had a trading volume of 20,992 shares. Air Lease Corp. has a 52-week low of $22.47 and a 52-week high of $35.22. The firm has a market cap of $3.04 billion, a price-to-earnings ratio of 9.37 and a beta of 1.59. The firm’s 50 day moving average price is $28.65 and its 200 day moving average price is $29.13.
Air Lease Corp. (NYSE:AL) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.02. Air Lease Corp. had a net margin of 25.70% and a return on equity of 14.72%. The company earned $350.10 million during the quarter, compared to the consensus estimate of $349.19 million. During the same quarter in the prior year, the firm posted $0.70 earnings per share. Air Lease Corp.’s revenue for the quarter was up 14.9% on a year-over-year basis. On average, equities research analysts expect that Air Lease Corp. will post $3.39 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, October 6th. Stockholders of record on Monday, September 12th were paid a dividend of $0.05 per share. The ex-dividend date was Thursday, September 8th. This represents a $0.20 annualized dividend and a dividend yield of 0.68%. Air Lease Corp.’s dividend payout ratio (DPR) is 6.37%.
AL has been the subject of a number of research reports. Zacks Investment Research lowered Air Lease Corp. from a “hold” rating to a “sell” rating in a research note on Monday. FBR & Co reissued a “buy” rating and set a $35.00 price target on shares of Air Lease Corp. in a research note on Monday, September 19th. One analyst has rated the stock with a sell rating, one has issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Air Lease Corp. has an average rating of “Buy” and an average price target of $44.44.
About Air Lease Corp.
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.