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

Ellis Investment Partners LLC boosted its position in shares of Air Lease Co. (NYSE:AL) by 1.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 69,267 shares of the transportation company’s stock after purchasing an additional 1,196 shares during the quarter. Ellis Investment Partners LLC owned about 0.06% of Air Lease worth $3,137,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AL. Vanguard Group Inc. grew its position in shares of Air Lease by 23.6% during the 1st quarter. Vanguard Group Inc. now owns 12,578,106 shares of the transportation company’s stock worth $647,018,000 after buying an additional 2,404,649 shares during the period. Maryland State Retirement & Pension System grew its position in shares of Air Lease by 459.7% during the 1st quarter. Maryland State Retirement & Pension System now owns 45,301 shares of the transportation company’s stock worth $2,198,000 after buying an additional 37,207 shares during the period. BW Gestao de Investimentos Ltda. acquired a new position in shares of Air Lease during the 1st quarter worth about $5,144,000. CANADA LIFE ASSURANCE Co grew its position in shares of Air Lease by 240.4% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 138,351 shares of the transportation company’s stock worth $7,119,000 after buying an additional 97,703 shares during the period. Finally, Texas Permanent School Fund Corp acquired a new position in shares of Air Lease in the 1st quarter valued at approximately $4,649,000. 94.59% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on AL. Barclays decreased their price objective on Air Lease from $55.00 to $54.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. TD Cowen began coverage on Air Lease in a research report on Monday, July 29th. They issued a “buy” rating and a $58.00 price objective for the company. Finally, JPMorgan Chase & Co. decreased their price objective on Air Lease from $54.00 to $52.00 and set an “overweight” rating for the company in a research report on Monday, August 5th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $54.75.

Air Lease Stock Up 0.8 %

NYSE:AL traded up $0.34 during trading hours on Friday, reaching $44.59. 518,049 shares of the stock were exchanged, compared to its average volume of 978,229. Air Lease Co. has a twelve month low of $33.33 and a twelve month high of $52.31. The company has a debt-to-equity ratio of 2.69, a current ratio of 0.50 and a quick ratio of 0.50. The firm has a 50 day moving average of $44.37 and a 200 day moving average of $46.50. The stock has a market cap of $4.97 billion, a PE ratio of 8.99, a PEG ratio of 1.29 and a beta of 1.59.

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

Air Lease Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 9th. Stockholders of record on Friday, September 6th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend was Friday, September 6th. Air Lease’s dividend payout ratio is currently 16.94%.

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.