Park Place Capital Corp Trims Stock Holdings in Air Lease Co. (NYSE:AL)

Park Place Capital Corp trimmed its holdings in Air Lease Co. (NYSE:AL) by 52.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 944 shares of the transportation company’s stock after selling 1,043 shares during the period. Park Place Capital Corp’s holdings in Air Lease were worth $49,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of AL. Mather Group LLC. purchased a new position in shares of Air Lease during the 1st quarter valued at $31,000. Neo Ivy Capital Management bought a new position in shares of Air Lease during the 3rd quarter valued at about $40,000. Hexagon Capital Partners LLC increased its position in shares of Air Lease by 1,341.4% during the 4th quarter. Hexagon Capital Partners LLC now owns 1,254 shares of the transportation company’s stock valued at $53,000 after purchasing an additional 1,167 shares during the last quarter. Principal Securities Inc. bought a new position in shares of Air Lease during the 4th quarter valued at about $77,000. Finally, SRS Capital Advisors Inc. increased its position in shares of Air Lease by 38.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 2,452 shares of the transportation company’s stock valued at $103,000 after purchasing an additional 683 shares during the last quarter. 94.59% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Air Lease Price Performance

Shares of AL stock opened at $46.63 on Tuesday. The firm has a market cap of $5.19 billion, a P/E ratio of 9.40, a P/E/G ratio of 0.90 and a beta of 1.59. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.48 and a current ratio of 0.48. The business’s 50 day moving average price is $48.23 and its 200-day moving average price is $45.36. Air Lease Co. has a fifty-two week low of $33.33 and a fifty-two week high of $52.31.

Air Lease (NYSE:AL) last released its earnings results on Monday, May 6th. The transportation company reported $0.87 EPS for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.07). The firm had revenue of $663.31 million during the quarter, compared to analysts’ expectations of $677.26 million. Air Lease had a net margin of 21.89% and a return on equity of 9.00%. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.06 EPS. On average, equities research analysts anticipate that Air Lease Co. will post 6.96 earnings per share for the current year.

Air Lease Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 8th. Stockholders of record on Tuesday, June 4th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date of this dividend is Tuesday, June 4th. Air Lease’s payout ratio is presently 16.94%.

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.