CI Investments Inc. Has $348,000 Stock Holdings in Air Lease Corporation $AL

CI Investments Inc. trimmed its position in shares of Air Lease Corporation (NYSE:AL) by 96.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,473 shares of the transportation company’s stock after selling 168,889 shares during the period. CI Investments Inc.’s holdings in Air Lease were worth $348,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. True Wealth Design LLC increased its position in shares of Air Lease by 2,980.0% during the third quarter. True Wealth Design LLC now owns 462 shares of the transportation company’s stock valued at $29,000 after purchasing an additional 447 shares during the period. Mather Group LLC. bought a new position in Air Lease in the third quarter worth $29,000. First Horizon Corp bought a new position in Air Lease in the third quarter worth $31,000. Parkside Financial Bank & Trust boosted its stake in Air Lease by 273.2% during the second quarter. Parkside Financial Bank & Trust now owns 556 shares of the transportation company’s stock worth $33,000 after buying an additional 407 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in Air Lease by 129.6% during the third quarter. Nisa Investment Advisors LLC now owns 528 shares of the transportation company’s stock worth $34,000 after buying an additional 298 shares in the last quarter. Institutional investors and hedge funds own 94.59% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on AL shares. Zacks Research upgraded shares of Air Lease from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 18th. Barclays reiterated an “equal weight” rating and set a $65.00 target price (down from $68.00) on shares of Air Lease in a research report on Tuesday, January 6th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Air Lease in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.00.

Air Lease Trading Down 0.1%

Shares of NYSE AL opened at $64.52 on Friday. Air Lease Corporation has a 1-year low of $38.25 and a 1-year high of $64.96. The company has a 50-day moving average of $64.51 and a two-hundred day moving average of $63.75. The company has a market cap of $7.23 billion, a PE ratio of 6.93, a P/E/G ratio of 0.53 and a beta of 1.11. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 2.33.

Air Lease (NYSE:AL) last released its quarterly earnings results on Thursday, February 12th. The transportation company reported $2.20 EPS for the quarter, beating the consensus estimate of $1.46 by $0.74. The business had revenue of $679.54 million for the quarter, compared to analysts’ expectations of $782.67 million. Air Lease had a net margin of 35.72% and a return on equity of 8.54%. Air Lease’s revenue was up 15.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.83 earnings per share. As a group, equities analysts expect that Air Lease Corporation will post 5.16 earnings per share for the current fiscal year.

Air Lease Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 7th. Shareholders of record on Monday, March 2nd will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Monday, March 2nd. Air Lease’s dividend payout ratio (DPR) is presently 9.45%.

Insider Activity

In related news, Director Steven F. Udvar-Hazy sold 19,000 shares of the firm’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $64.12, for a total value of $1,218,280.00. Following the transaction, the director owned 1,391,366 shares in the company, valued at $89,214,387.92. This trade represents a 1.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kishore Korde sold 20,662 shares of Air Lease stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $64.10, for a total value of $1,324,434.20. Following the completion of the sale, the executive vice president owned 50,091 shares of the company’s stock, valued at approximately $3,210,833.10. The trade was a 29.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 542,625 shares of company stock valued at $34,743,668. Company insiders own 6.64% of the company’s stock.

Air Lease Profile

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.