Ellis Investment Partners LLC Reduces Position in Air Lease Co. (NYSE:AL)

Ellis Investment Partners LLC cut its holdings in shares of Air Lease Co. (NYSE:AL) by 4.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 69,240 shares of the transportation company’s stock after selling 3,016 shares during the period. Air Lease makes up about 0.8% of Ellis Investment Partners LLC’s investment portfolio, making the stock its 26th largest holding. Ellis Investment Partners LLC’s holdings in Air Lease were worth $3,562,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Janney Capital Management LLC boosted its position in shares of Air Lease by 3.1% during the fourth quarter. Janney Capital Management LLC now owns 10,668 shares of the transportation company’s stock worth $447,000 after buying an additional 325 shares during the period. Neo Ivy Capital Management raised its holdings in Air Lease by 32.4% during the fourth quarter. Neo Ivy Capital Management now owns 1,350 shares of the transportation company’s stock worth $57,000 after purchasing an additional 330 shares in the last quarter. Quent Capital LLC raised its holdings in Air Lease by 10.4% during the fourth quarter. Quent Capital LLC now owns 3,798 shares of the transportation company’s stock worth $159,000 after purchasing an additional 358 shares in the last quarter. Mariner LLC raised its holdings in Air Lease by 2.1% during the third quarter. Mariner LLC now owns 17,716 shares of the transportation company’s stock worth $698,000 after purchasing an additional 361 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its holdings in Air Lease by 6.6% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 6,492 shares of the transportation company’s stock worth $272,000 after purchasing an additional 404 shares in the last quarter. 94.59% of the stock is currently owned by institutional investors and hedge funds.

Air Lease Price Performance

NYSE AL opened at $47.99 on Thursday. The stock has a market capitalization of $5.34 billion, a P/E ratio of 9.65, a P/E/G ratio of 0.91 and a beta of 1.62. Air Lease Co. has a 1 year low of $33.33 and a 1 year high of $52.31. The business’s fifty day moving average is $48.33 and its two-hundred day moving average is $45.18. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.48 and a current ratio of 0.48.

Air Lease (NYSE:AL) last posted its quarterly earnings results on Monday, May 6th. The transportation company reported $0.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.94 by ($0.07). Air Lease had a net margin of 21.89% and a return on equity of 9.00%. The company had revenue of $663.31 million during the quarter, compared to the consensus estimate of $677.26 million. During the same period in the prior year, the company posted $1.06 EPS. Air Lease’s quarterly revenue was up 4.3% on a year-over-year basis. On average, research analysts forecast that Air Lease Co. will post 6.96 earnings per share for the current fiscal year.

Air Lease Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 8th. Shareholders of record on Tuesday, June 4th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.75%. The ex-dividend date of this dividend is Tuesday, June 4th. Air Lease’s payout ratio is 16.94%.

Analyst Ratings Changes

Several equities research analysts recently commented on AL shares. Barclays boosted their target price on Air Lease from $48.00 to $55.00 and gave the stock an “overweight” rating in a report on Tuesday, April 16th. TD Cowen dropped their target price on Air Lease from $59.00 to $56.00 and set a “buy” rating on the stock in a report on Tuesday, May 7th. Finally, StockNews.com cut Air Lease from a “buy” rating to a “hold” rating in a report on Friday, March 29th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Air Lease currently has a consensus rating of “Moderate Buy” and an average target price of $53.80.

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.