Ellis Investment Partners LLC Has $3.24 Million Stake in Air Lease Co. (NYSE:AL)

Ellis Investment Partners LLC cut its stake in Air Lease Co. (NYSE:AL) by 1.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 68,071 shares of the transportation company’s stock after selling 1,169 shares during the period. Ellis Investment Partners LLC owned approximately 0.06% of Air Lease worth $3,235,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Air Lease by 23.6% in the first quarter. Vanguard Group Inc. now owns 12,578,106 shares of the transportation company’s stock worth $647,018,000 after purchasing an additional 2,404,649 shares in the last quarter. Maryland State Retirement & Pension System boosted its stake in shares of Air Lease by 459.7% during the 1st quarter. Maryland State Retirement & Pension System now owns 45,301 shares of the transportation company’s stock worth $2,198,000 after buying an additional 37,207 shares during the last quarter. Trexquant Investment LP grew its holdings in shares of Air Lease by 134.7% in the 4th quarter. Trexquant Investment LP now owns 131,461 shares of the transportation company’s stock valued at $5,513,000 after acquiring an additional 75,449 shares in the last quarter. BNP Paribas Financial Markets increased its position in shares of Air Lease by 812.8% in the fourth quarter. BNP Paribas Financial Markets now owns 25,740 shares of the transportation company’s stock valued at $1,080,000 after acquiring an additional 22,920 shares during the last quarter. Finally, Park West Asset Management LLC bought a new stake in Air Lease during the fourth quarter worth about $3,775,000. Institutional investors own 94.59% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on AL shares. Barclays lowered their price target on Air Lease from $55.00 to $54.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. JPMorgan Chase & Co. dropped their price target on shares of Air Lease from $54.00 to $52.00 and set an “overweight” rating on the stock in a research report on Monday, August 5th. Finally, TD Cowen initiated coverage on shares of Air Lease in a research note on Monday, July 29th. They set a “buy” rating and a $58.00 price objective on the stock. One analyst has 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 an average rating of “Moderate Buy” and an average target price of $54.75.

Air Lease Stock Performance

Shares of AL stock opened at $42.48 on Friday. The company has a market capitalization of $4.73 billion, a price-to-earnings ratio of 8.56, a PEG ratio of 1.00 and a beta of 1.59. 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 Co. has a 52 week low of $33.33 and a 52 week high of $52.31. The company has a 50-day simple moving average of $46.07 and a 200 day simple moving average of $46.94.

Air Lease (NYSE:AL) last released its quarterly earnings results on Thursday, August 1st. The transportation company reported $1.15 earnings per share for the quarter, missing the consensus estimate of $1.56 by ($0.41). Air Lease had a return on equity of 8.97% and a net margin of 20.85%. The firm had revenue of $667.29 million for the quarter, compared to analyst estimates of $687.93 million. On average, sell-side analysts predict that Air Lease Co. will post 6.68 earnings per share for the current year.

Air Lease Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 9th. Shareholders of record on Friday, September 6th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date is Friday, September 6th. Air Lease’s dividend payout ratio is currently 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.