Parkside Investments LLC Sells 6,340 Shares of Air Lease Co. (NYSE:AL)

Parkside Investments LLC reduced its holdings in Air Lease Co. (NYSE:AL) by 3.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 203,010 shares of the transportation company’s stock after selling 6,340 shares during the quarter. Air Lease comprises 1.6% of Parkside Investments LLC’s holdings, making the stock its 27th largest holding. Parkside Investments LLC owned 0.18% of Air Lease worth $8,496,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Belpointe Asset Management LLC bought a new stake in Air Lease in the first quarter worth approximately $28,000. Neo Ivy Capital Management bought a new stake in shares of Air Lease during the second quarter valued at approximately $31,000. Lazard Asset Management LLC bought a new stake in shares of Air Lease during the first quarter valued at approximately $66,000. MetLife Investment Management LLC bought a new stake in shares of Air Lease during the first quarter valued at approximately $96,000. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Air Lease by 19.0% during the third quarter. Tower Research Capital LLC TRC now owns 2,324 shares of the transportation company’s stock valued at $72,000 after acquiring an additional 371 shares in the last quarter. 88.16% of the stock is currently owned by institutional investors.

Air Lease Stock Performance

Shares of NYSE AL traded up $0.19 during trading on Friday, reaching $39.55. 102,255 shares of the stock traded hands, compared to its average volume of 603,242. Air Lease Co. has a 52-week low of $30.08 and a 52-week high of $46.20. The company has a debt-to-equity ratio of 2.76, a current ratio of 0.41 and a quick ratio of 0.41. The company has a 50-day moving average of $41.39 and a 200-day moving average of $40.27. The stock has a market capitalization of $4.39 billion, a P/E ratio of 9.22, a price-to-earnings-growth ratio of 0.88 and a beta of 1.76.

Air Lease (NYSE:AL) last issued its quarterly earnings results on Thursday, August 3rd. The transportation company reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.01. Air Lease had a return on equity of 7.72% and a net margin of 20.91%. The firm had revenue of $672.90 million for the quarter, compared to analysts’ expectations of $657.68 million. Analysts forecast that Air Lease Co. will post 4.57 EPS for the current fiscal year.

Air Lease Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 6th. Investors of record on Tuesday, September 12th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, September 11th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.02%. Air Lease’s payout ratio is 18.74%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Citigroup boosted their price objective on Air Lease from $41.00 to $43.00 and gave the company a “neutral” rating in a report on Friday, August 11th. StockNews.com started coverage on Air Lease in a research report on Thursday, August 17th. They set a “hold” rating on the stock. Finally, Bank of America cut their target price on Air Lease from $65.00 to $60.00 and set a “buy” rating on the stock in a research report on Wednesday, August 30th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Air Lease presently has an average rating of “Moderate Buy” and an average price target of $53.80.

Air Lease Company Profile

Air Lease Corporation, an aircraft leasing company, engages in the purchase and leasing of commercial jet aircraft to airlines worldwide. It also sells aircraft from its fleet to third parties, including other leasing companies, financial services companies, airlines, and other investors. In addition, the company provides fleet management services to investors and owners of aircraft portfolios.