Air Lease Co. (NYSE:AL) Position Lowered by Sanctuary Advisors LLC

Sanctuary Advisors LLC trimmed its position in Air Lease Co. (NYSE:AL) by 51.4% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,296 shares of the transportation company’s stock after selling 19,349 shares during the period. Sanctuary Advisors LLC’s holdings in Air Lease were worth $829,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AL. Eastern Bank bought a new stake in Air Lease during the third quarter valued at $27,000. Altshuler Shaham Ltd acquired a new position in shares of Air Lease in the 2nd quarter valued at about $29,000. GAMMA Investing LLC grew its position in shares of Air Lease by 55.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,868 shares of the transportation company’s stock valued at $85,000 after buying an additional 667 shares during the last quarter. KBC Group NV raised its stake in Air Lease by 20.0% during the third quarter. KBC Group NV now owns 3,345 shares of the transportation company’s stock worth $151,000 after acquiring an additional 557 shares during the period. Finally, BNP Paribas Financial Markets lifted its holdings in Air Lease by 12.6% in the third quarter. BNP Paribas Financial Markets now owns 3,468 shares of the transportation company’s stock worth $157,000 after acquiring an additional 389 shares during the last quarter. 94.59% of the stock is owned by institutional investors.

Air Lease Stock Performance

AL opened at $48.61 on Tuesday. Air Lease Co. has a twelve month low of $39.15 and a twelve month high of $52.31. The stock has a market cap of $5.41 billion, a PE ratio of 11.07, a price-to-earnings-growth ratio of 1.55 and a beta of 1.61. The business’s 50 day moving average is $47.84 and its 200-day moving average is $46.35. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 2.63.

Air Lease Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Thursday, December 12th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date is Thursday, December 12th. This is a positive change from Air Lease’s previous quarterly dividend of $0.21. Air Lease’s payout ratio is 20.05%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on AL shares. JPMorgan Chase & Co. upped their target price on Air Lease from $52.00 to $56.00 and gave the company an “overweight” rating in a report on Tuesday, November 12th. The Goldman Sachs Group restated a “buy” rating and set a $65.00 price objective on shares of Air Lease in a research note on Thursday, November 21st. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Air Lease has a consensus rating of “Moderate Buy” and an average target price of $57.60.

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.