Air Lease Corporation $AL Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System lessened its holdings in shares of Air Lease Corporation (NYSE:AL) by 43.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,018 shares of the transportation company’s stock after selling 15,401 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Air Lease were worth $1,274,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. True Wealth Design LLC boosted its position in Air Lease by 2,980.0% during the third quarter. True Wealth Design LLC now owns 462 shares of the transportation company’s stock worth $29,000 after acquiring an additional 447 shares during the last quarter. Mather Group LLC. purchased a new position in Air Lease in the 3rd quarter worth approximately $29,000. First Horizon Corp purchased a new position in Air Lease in the 3rd quarter worth approximately $31,000. Parkside Financial Bank & Trust boosted its holdings in shares of Air Lease by 273.2% during the 2nd quarter. Parkside Financial Bank & Trust now owns 556 shares of the transportation company’s stock worth $33,000 after purchasing an additional 407 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its position in shares of Air Lease by 129.6% in the third quarter. Nisa Investment Advisors LLC now owns 528 shares of the transportation company’s stock valued at $34,000 after purchasing an additional 298 shares in the last quarter. 94.59% of the stock is currently owned by institutional investors and hedge funds.

Air Lease Price Performance

AL stock opened at $64.36 on Wednesday. Air Lease Corporation has a 52-week low of $38.25 and a 52-week high of $64.40. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 2.42. The stock has a market cap of $7.19 billion, a price-to-earnings ratio of 7.46, a price-to-earnings-growth ratio of 0.56 and a beta of 1.15. The business has a fifty day moving average of $64.08 and a two-hundred day moving average of $62.11.

Air Lease (NYSE:AL) last announced its quarterly earnings results on Monday, November 3rd. The transportation company reported $1.29 EPS for the quarter, beating the consensus estimate of $1.16 by $0.13. The business had revenue of $725.39 million for the quarter, compared to analyst estimates of $744.59 million. Air Lease had a return on equity of 7.84% and a net margin of 35.08%.The company’s quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.82 EPS. As a group, research analysts anticipate that Air Lease Corporation will post 5.16 earnings per share for the current year.

Air Lease Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 8th. Shareholders of record on Thursday, December 4th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Thursday, December 4th. Air Lease’s dividend payout ratio (DPR) is 10.20%.

Analyst Upgrades and Downgrades

AL has been the topic of a number of analyst reports. Zacks Research upgraded Air Lease from a “strong sell” rating to a “hold” rating in a research report on Monday, January 5th. Barclays reaffirmed an “equal weight” rating and issued a $65.00 target price (down from $68.00) on shares of Air Lease in a research note on Tuesday, January 6th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Air Lease in a research report on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $59.17.

Insider Buying and Selling at Air Lease

In other news, Director Steven F. Udvar-Hazy sold 19,000 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $64.12, for a total value of $1,218,280.00. Following the sale, the director directly owned 1,391,366 shares of the company’s stock, valued at approximately $89,214,387.92. The trade was a 1.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kishore Korde sold 20,662 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $64.10, for a total transaction of $1,324,434.20. Following the completion of the transaction, the executive vice president owned 50,091 shares in the company, valued at approximately $3,210,833.10. This represents a 29.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 760,593 shares of company stock worth $48,668,588 over the last three months. Insiders own 6.80% of the company’s stock.

About Air Lease

Air Lease Corporation (NYSE: AL) is a leading aircraft leasing company that acquires commercial jet aircraft and leases them to airlines worldwide. The firm’s core business activities include direct aircraft acquisition, lease management and portfolio remarketing. By structuring sale‐and‐leaseback transactions, operating leases and secured loans, Air Lease provides flexible financing solutions that enable carriers to modernize their fleets without committing large amounts of capital to ownership.

Founded in 2010 and headquartered in Los Angeles, Air Lease Corporation serves a diverse customer base spanning North America, Europe, Asia, Latin America and the Middle East.