Ellis Investment Partners LLC Has $3.29 Million Holdings in Air Lease Co. (NYSE:AL)

Ellis Investment Partners LLC cut its stake in shares of Air Lease Co. (NYSE:AL) by 1.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 68,214 shares of the transportation company’s stock after selling 1,053 shares during the period. Ellis Investment Partners LLC owned about 0.06% of Air Lease worth $3,289,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of AL. Allspring Global Investments Holdings LLC increased its holdings in shares of Air Lease by 43.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,800,723 shares of the transportation company’s stock worth $134,332,000 after buying an additional 842,780 shares in the last quarter. Loomis Sayles & Co. L P acquired a new position in shares of Air Lease during the third quarter worth $18,289,000. Highland Peak Capital LLC acquired a new position in shares of Air Lease during the third quarter worth $7,066,000. Harbor Capital Advisors Inc. increased its holdings in shares of Air Lease by 109.0% during the third quarter. Harbor Capital Advisors Inc. now owns 161,127 shares of the transportation company’s stock worth $7,297,000 after buying an additional 84,016 shares in the last quarter. Finally, Royce & Associates LP increased its holdings in shares of Air Lease by 2.5% during the third quarter. Royce & Associates LP now owns 2,875,522 shares of the transportation company’s stock worth $130,232,000 after buying an additional 70,299 shares in the last quarter. 94.59% of the stock is currently owned by institutional investors and hedge funds.

Air Lease Stock Performance

Shares of Air Lease stock opened at $49.46 on Friday. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 2.63. The business has a 50-day moving average price of $47.41 and a two-hundred day moving average price of $46.23. Air Lease Co. has a 1-year low of $39.35 and a 1-year high of $52.31. The company has a market cap of $5.51 billion, a P/E ratio of 11.27, a PEG ratio of 1.00 and a beta of 1.59.

Air Lease (NYSE:AL) last issued its quarterly earnings results on Thursday, February 13th. The transportation company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.44. Air Lease had a return on equity of 8.92% and a net margin of 19.58%. As a group, analysts anticipate that Air Lease Co. will post 4.65 EPS for the current year.

Air Lease Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Tuesday, March 18th will be issued a dividend of $0.22 per share. The ex-dividend date is Tuesday, March 18th. This represents a $0.88 dividend on an annualized basis and a yield of 1.78%. Air Lease’s payout ratio is currently 20.05%.

Analyst Ratings Changes

AL has been the subject of a number of recent research reports. The Goldman Sachs Group restated a “buy” rating and issued a $65.00 price objective on shares of Air Lease in a report on Thursday, November 21st. JPMorgan Chase & Co. increased their price objective on Air Lease from $52.00 to $56.00 and gave the company an “overweight” rating in a report on Tuesday, November 12th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock presently 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.