Teacher Retirement System of Texas Invests $747,000 in Air Lease Corporation (NYSE:AL)

Teacher Retirement System of Texas purchased a new stake in Air Lease Corporation (NYSE:AL) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 15,468 shares of the transportation company’s stock, valued at approximately $747,000.

A number of other large investors have also added to or reduced their stakes in the business. Alpine Bank Wealth Management acquired a new position in shares of Air Lease in the first quarter valued at approximately $25,000. Aster Capital Management DIFC Ltd acquired a new position in Air Lease in the 4th quarter valued at $28,000. Engine Capital Management LP bought a new position in Air Lease during the 4th quarter worth $36,000. Versant Capital Management Inc lifted its holdings in shares of Air Lease by 88.1% during the first quarter. Versant Capital Management Inc now owns 743 shares of the transportation company’s stock worth $36,000 after buying an additional 348 shares in the last quarter. Finally, Brown Brothers Harriman & Co. boosted its position in shares of Air Lease by 5,245.0% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,069 shares of the transportation company’s stock valued at $52,000 after acquiring an additional 1,049 shares during the period. Institutional investors own 94.59% of the company’s stock.

Air Lease Trading Down 1.8%

NYSE AL opened at $58.07 on Wednesday. The firm has a market capitalization of $6.49 billion, a PE ratio of 10.15, a price-to-earnings-growth ratio of 0.64 and a beta of 1.35. The business’s 50-day moving average price is $57.36 and its two-hundred day moving average price is $50.12. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 2.53. Air Lease Corporation has a 12 month low of $38.25 and a 12 month high of $60.41.

Air Lease (NYSE:AL) last issued its quarterly earnings results on Monday, May 5th. The transportation company reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.27. Air Lease had a net margin of 24.77% and a return on equity of 8.04%. The firm had revenue of $738.28 million for the quarter, compared to the consensus estimate of $709.70 million. During the same quarter in the previous year, the company earned $0.87 EPS. The company’s revenue for the quarter was up 11.3% on a year-over-year basis. On average, analysts expect that Air Lease Corporation will post 5.16 EPS for the current year.

Air Lease Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 4th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date was Wednesday, June 4th. Air Lease’s payout ratio is 15.38%.

Insider Activity

In other Air Lease news, EVP Grant A. Levy sold 10,000 shares of Air Lease stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $56.85, for a total value of $568,500.00. Following the completion of the sale, the executive vice president directly owned 146,316 shares of the company’s stock, valued at approximately $8,318,064.60. The trade was a 6.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 6.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on AL. Barclays restated an “overweight” rating and set a $67.00 price objective (up previously from $56.00) on shares of Air Lease in a research note on Thursday, July 10th. Citigroup upgraded Air Lease from a “neutral” rating to a “buy” rating and raised their price target for the stock from $45.00 to $68.00 in a research report on Tuesday, May 20th. Finally, Wall Street Zen raised Air Lease from a “hold” rating to a “buy” rating in a research note on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $59.29.

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.