Royal Bank of Canada Buys 27,065 Shares of Air Lease Corporation $AL

Royal Bank of Canada grew its stake in shares of Air Lease Corporation (NYSE:AL) by 8.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 353,072 shares of the transportation company’s stock after buying an additional 27,065 shares during the quarter. Royal Bank of Canada owned 0.32% of Air Lease worth $17,057,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Alpine Bank Wealth Management bought a new position in shares of Air Lease during the first quarter valued at about $25,000. Brooklyn Investment Group grew its stake in shares of Air Lease by 152.4% during the first quarter. Brooklyn Investment Group now owns 588 shares of the transportation company’s stock valued at $28,000 after buying an additional 355 shares during the last quarter. Versant Capital Management Inc grew its stake 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 valued at $36,000 after buying an additional 348 shares during the last quarter. SVB Wealth LLC purchased a new stake in shares of Air Lease during the first quarter worth about $52,000. Finally, Fourth Dimension Wealth LLC purchased a new stake in shares of Air Lease during the fourth quarter worth about $52,000. 94.59% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Cowen downgraded Air Lease from a “buy” rating to a “hold” rating in a report on Wednesday, September 3rd. TD Cowen downgraded Air Lease from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 3rd. Citigroup upgraded Air Lease from a “neutral” rating to a “buy” rating and boosted their price target for the company from $45.00 to $68.00 in a report on Tuesday, May 20th. Deutsche Bank Aktiengesellschaft lowered Air Lease from a “buy” rating to a “hold” rating and set a $65.00 price target for the company. in a research note on Wednesday, September 3rd. Finally, Barclays reissued an “overweight” rating and set a $67.00 price objective (up from $56.00) on shares of Air Lease in a research report on Thursday, July 10th. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $60.29.

Air Lease Price Performance

AL stock opened at $63.57 on Wednesday. The company has a debt-to-equity ratio of 2.47, a quick ratio of 0.42 and a current ratio of 0.42. The firm has a 50 day moving average price of $58.62 and a 200-day moving average price of $53.31. Air Lease Corporation has a 52-week low of $38.25 and a 52-week high of $64.30. The firm has a market capitalization of $7.10 billion, a price-to-earnings ratio of 7.71, a PEG ratio of 0.66 and a beta of 1.37.

Air Lease (NYSE:AL) last posted its quarterly earnings results on Monday, August 4th. The transportation company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.07. Air Lease had a return on equity of 7.99% and a net margin of 34.04%.The company had revenue of $731.70 million for the quarter, compared to the consensus estimate of $723.35 million. During the same quarter in the prior year, the business posted $1.23 EPS. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. Equities research analysts forecast that Air Lease Corporation will post 5.16 EPS for the current fiscal year.

Air Lease Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 8th. Shareholders of record on Wednesday, September 3rd will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Wednesday, September 3rd. Air Lease’s dividend payout ratio (DPR) is currently 10.68%.

Insiders Place Their Bets

In other Air Lease news, EVP David Beker sold 2,000 shares of the firm’s stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $55.44, for a total transaction of $110,880.00. Following the completion of the sale, the executive vice president directly owned 19,770 shares in the company, valued at approximately $1,096,048.80. This trade represents a 9.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 6.80% of the company’s stock.

Air Lease Company 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.