Selz Capital LLC cut its stake in shares of Air Lease Corp (NYSE:AL) by 3.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,194,800 shares of the transportation company’s stock after selling 40,000 shares during the quarter. Air Lease comprises about 7.8% of Selz Capital LLC’s investment portfolio, making the stock its largest position. Selz Capital LLC owned approximately 1.08% of Air Lease worth $41,041,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors also recently bought and sold shares of AL. Sageworth Trust Co acquired a new stake in Air Lease in the 1st quarter valued at about $26,000. Penserra Capital Management LLC acquired a new stake in Air Lease in the 4th quarter valued at about $27,000. First Mercantile Trust Co. lifted its holdings in Air Lease by 41.5% in the 4th quarter. First Mercantile Trust Co. now owns 920 shares of the transportation company’s stock valued at $28,000 after purchasing an additional 270 shares in the last quarter. SeaBridge Investment Advisors LLC purchased a new position in Air Lease in the 4th quarter valued at about $30,000. Finally, First Interstate Bank purchased a new position in Air Lease in the 4th quarter valued at about $36,000. 85.76% of the stock is currently owned by institutional investors and hedge funds.
Shares of AL stock traded up $0.72 during trading hours on Friday, hitting $39.58. 742,467 shares of the company were exchanged, compared to its average volume of 932,160. The firm has a market cap of $4.40 billion, a P/E ratio of 8.60, a PEG ratio of 0.94 and a beta of 2.04. Air Lease Corp has a 1 year low of $28.13 and a 1 year high of $47.34. The company has a debt-to-equity ratio of 2.40, a current ratio of 0.85 and a quick ratio of 0.85.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 10th. Investors of record on Wednesday, March 20th were issued a $0.13 dividend. The ex-dividend date of this dividend was Tuesday, March 19th. This represents a $0.52 annualized dividend and a yield of 1.31%. Air Lease’s payout ratio is 11.30%.
A number of research analysts have issued reports on AL shares. Zacks Investment Research lowered shares of Air Lease from a “buy” rating to a “hold” rating in a report on Friday, March 1st. ValuEngine lowered shares of Air Lease from a “sell” rating to a “strong sell” rating in a report on Wednesday, March 20th. TheStreet upgraded shares of Air Lease from a “c+” rating to a “b-” rating in a report on Wednesday, January 30th. Finally, Goldman Sachs Group started coverage on shares of Air Lease in a report on Monday, April 8th. They issued a “buy” rating and a $52.00 target price on the stock. Two analysts have rated the stock with a sell rating, two have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Air Lease currently has an average rating of “Buy” and a consensus target price of $55.56.
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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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