Ellis Investment Partners LLC Buys 1,196 Shares of Air Lease Co. (NYSE:AL)

Ellis Investment Partners LLC boosted its holdings in Air Lease Co. (NYSE:AL) by 1.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 69,267 shares of the transportation company’s stock after acquiring an additional 1,196 shares during the period. Ellis Investment Partners LLC’s holdings in Air Lease were worth $3,137,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in AL. Vanguard Group Inc. grew its holdings in Air Lease by 23.6% in the 1st quarter. Vanguard Group Inc. now owns 12,578,106 shares of the transportation company’s stock valued at $647,018,000 after buying an additional 2,404,649 shares in the last quarter. Artemis Investment Management LLP acquired a new position in Air Lease in the 2nd quarter valued at $22,339,000. Earnest Partners LLC grew its holdings in Air Lease by 19.4% in the 1st quarter. Earnest Partners LLC now owns 2,113,615 shares of the transportation company’s stock valued at $108,724,000 after buying an additional 343,360 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Air Lease by 42.6% in the 2nd quarter. Principal Financial Group Inc. now owns 760,160 shares of the transportation company’s stock valued at $36,130,000 after buying an additional 227,274 shares in the last quarter. Finally, Boston Partners grew its holdings in Air Lease by 239.9% in the 1st quarter. Boston Partners now owns 307,657 shares of the transportation company’s stock valued at $15,827,000 after buying an additional 217,153 shares in the last quarter. Institutional investors own 94.59% of the company’s stock.

Air Lease Price Performance

NYSE:AL traded up $0.34 during trading hours on Friday, hitting $44.59. The company’s stock had a trading volume of 518,049 shares, compared to its average volume of 978,229. The stock has a fifty day simple moving average of $44.37 and a 200-day simple moving average of $46.50. The company has a market capitalization of $4.97 billion, a P/E ratio of 8.99, a PEG ratio of 1.29 and a beta of 1.59. The company has a debt-to-equity ratio of 2.69, a current ratio of 0.50 and a quick ratio of 0.50. Air Lease Co. has a twelve month low of $33.33 and a twelve month high of $52.31.

Air Lease (NYSE:AL) last posted its earnings results on Thursday, August 1st. The transportation company reported $1.15 EPS for the quarter, missing the consensus estimate of $1.56 by ($0.41). The firm had revenue of $667.29 million during the quarter, compared to the consensus estimate of $687.93 million. Air Lease had a net margin of 20.85% and a return on equity of 8.97%. On average, analysts anticipate that Air Lease Co. will post 4.83 EPS for the current fiscal year.

Air Lease Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 9th. Shareholders of record on Friday, September 6th were given a $0.21 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.84 annualized dividend and a yield of 1.88%. Air Lease’s dividend payout ratio is presently 16.94%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AL. Barclays decreased their price objective on Air Lease from $55.00 to $54.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. TD Cowen started coverage on Air Lease in a report on Monday, July 29th. They set a “buy” rating and a $58.00 target price on the stock. Finally, JPMorgan Chase & Co. reduced their target price on Air Lease from $54.00 to $52.00 and set an “overweight” rating on the stock in a report on Monday, August 5th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $54.75.

About Air Lease

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.