Permanens Capital L.P. Invests $26,000 in Air Lease Corp (NYSE:AL)

Permanens Capital L.P. acquired a new stake in Air Lease Corp (NYSE:AL) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 750 shares of the transportation company’s stock, valued at approximately $26,000.

Other institutional investors have also recently modified their holdings of the company. Sageworth Trust Co bought a new position in Air Lease in the first quarter valued at $26,000. Penserra Capital Management LLC bought a new position in shares of Air Lease during the fourth quarter valued at about $27,000. First Mercantile Trust Co. grew its stake in shares of Air Lease by 41.5% during the fourth quarter. First Mercantile Trust Co. now owns 920 shares of the transportation company’s stock valued at $28,000 after buying an additional 270 shares during the last quarter. SeaBridge Investment Advisors LLC bought a new position in shares of Air Lease during the fourth quarter valued at about $30,000. Finally, Osborn Williams & Donohoe LLC bought a new position in shares of Air Lease during the first quarter valued at about $38,000. 85.64% of the stock is owned by institutional investors and hedge funds.

AL has been the topic of a number of recent research reports. Zacks Investment Research cut Air Lease from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. ValuEngine cut Air Lease from a “sell” rating to a “strong sell” rating in a research note on Wednesday, March 20th. Finally, Goldman Sachs Group began coverage on Air Lease in a research note on Monday, April 8th. They set a “buy” rating and a $52.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Air Lease presently has an average rating of “Buy” and a consensus price target of $55.56.

In related news, CEO John L. Plueger sold 395,806 shares of Air Lease stock in a transaction on Friday, May 17th. The shares were sold at an average price of $38.16, for a total transaction of $15,103,956.96. Following the transaction, the chief executive officer now owns 914,145 shares in the company, valued at approximately $34,883,773.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Marc H. Baer sold 130,000 shares of the business’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $36.80, for a total transaction of $4,784,000.00. Following the completion of the sale, the executive vice president now owns 275,008 shares in the company, valued at approximately $10,120,294.40. The disclosure for this sale can be found here. Insiders have sold 576,477 shares of company stock valued at $21,843,351 in the last ninety days. Insiders own 8.76% of the company’s stock.

Shares of Air Lease stock traded up $0.71 during trading on Friday, reaching $41.34. 1,009,546 shares of the stock were exchanged, compared to its average volume of 843,292. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 2.29. Air Lease Corp has a 1 year low of $28.13 and a 1 year high of $47.34. The stock’s fifty day moving average is $38.42. The firm has a market cap of $4.51 billion, a price-to-earnings ratio of 8.99, a price-to-earnings-growth ratio of 1.15 and a beta of 1.93.

Air Lease (NYSE:AL) last issued its quarterly earnings data on Thursday, May 9th. The transportation company reported $1.23 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.22 by $0.01. Air Lease had a net margin of 30.50% and a return on equity of 11.45%. The business had revenue of $466.00 million during the quarter, compared to analyst estimates of $456.91 million. During the same period last year, the business posted $1.38 earnings per share. Air Lease’s quarterly revenue was up 22.2% compared to the same quarter last year. On average, analysts predict that Air Lease Corp will post 5.47 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Wednesday, June 5th will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date is Tuesday, June 4th. Air Lease’s dividend payout ratio is 11.30%.

Air Lease Profile

Air Lease Corporation, an aircraft leasing company, engages in the purchase and leasing of commercial jet transport aircraft to airlines worldwide. The company also sells aircraft from its operating lease portfolio to third parties, including other leasing companies, financial services companies, and airlines.

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Institutional Ownership by Quarter for Air Lease (NYSE:AL)

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