Air Lease Corp. (NYSE:AL) had its price objective lifted by FBR & Co from $36.00 to $40.00 in a research report released on Tuesday morning. They currently have an outperform rating on the stock.
A number of other research firms also recently commented on AL. Zacks Investment Research downgraded Air Lease Corp. from a hold rating to a sell rating in a report on Monday, October 10th. Stephens initiated coverage on Air Lease Corp. in a report on Tuesday, November 1st. They issued an overweight rating and a $48.00 price objective on the stock. 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 stock. The stock currently has a consensus rating of Buy and an average price target of $45.94.
Air Lease Corp. (NYSE:AL) opened at 36.39 on Tuesday. The firm has a market capitalization of $3.74 billion, a P/E ratio of 11.05 and a beta of 1.54. Air Lease Corp. has a 12 month low of $22.47 and a 12 month high of $36.42. The stock’s 50 day moving average price is $31.61 and its 200-day moving average price is $29.24.
Air Lease Corp. (NYSE:AL) last released its earnings results on Thursday, November 3rd. The company reported $0.86 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.04. Air Lease Corp. had a return on equity of 14.83% and a net margin of 26.09%. The firm had revenue of $355.10 million for the quarter, compared to the consensus estimate of $356.47 million. During the same period in the prior year, the business posted $0.71 earnings per share. The firm’s revenue for the quarter was up 13.4% compared to the same quarter last year. On average, analysts forecast that Air Lease Corp. will post $3.42 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, January 9th. Stockholders of record on Monday, December 12th will be paid a $0.075 dividend. The ex-dividend date is Thursday, December 8th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.82%. This is a positive change from Air Lease Corp.’s previous quarterly dividend of $0.05. Air Lease Corp.’s dividend payout ratio (DPR) is 6.08%.
In other Air Lease Corp. news, Director Robert A. Milton sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 8th. The stock was sold at an average price of $31.73, for a total transaction of $951,900.00. Following the completion of the sale, the director now owns 30,889 shares in the company, valued at approximately $980,107.97. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 9.45% of the stock is owned by insiders.
Large investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD raised its stake in shares of Air Lease Corp. by 7.2% in the third quarter. Price T Rowe Associates Inc. MD now owns 25,421 shares of the company’s stock worth $727,000 after buying an additional 1,700 shares during the period. Verition Fund Management LLC acquired a new stake in shares of Air Lease Corp. during the third quarter worth $365,000. Cobalt Capital Management Inc. raised its stake in shares of Air Lease Corp. by 286.0% in the third quarter. Cobalt Capital Management Inc. now owns 537,129 shares of the company’s stock worth $15,351,000 after buying an additional 397,962 shares during the period. Highbridge Capital Management LLC acquired a new stake in shares of Air Lease Corp. during the third quarter worth $227,000. Finally, Baker Avenue Asset Management LP raised its stake in shares of Air Lease Corp. by 5.5% in the third quarter. Baker Avenue Asset Management LP now owns 16,422 shares of the company’s stock worth $469,000 after buying an additional 850 shares during the period. Hedge funds and other institutional investors own 94.90% of the company’s stock.
Air Lease Corp. Company Profile