Highland Peak Capital LLC Takes Position in Air Lease Co. (NYSE:AL)

Highland Peak Capital LLC acquired a new position in Air Lease Co. (NYSE:AL) during the 3rd quarter, HoldingsChannel reports. The fund acquired 156,014 shares of the transportation company’s stock, valued at approximately $7,066,000. Air Lease accounts for about 3.1% of Highland Peak Capital LLC’s investment portfolio, making the stock its 6th largest holding.

Other institutional investors and hedge funds have also bought and sold shares of the company. Eastern Bank bought a new stake in shares of Air Lease in the 3rd quarter valued at $27,000. Altshuler Shaham Ltd acquired a new position in Air Lease in the second quarter valued at approximately $29,000. GAMMA Investing LLC boosted its holdings in shares of Air Lease by 108.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,201 shares of the transportation company’s stock worth $57,000 after buying an additional 624 shares in the last quarter. Hilltop National Bank grew its position in shares of Air Lease by 33.8% during the 2nd quarter. Hilltop National Bank now owns 1,775 shares of the transportation company’s stock worth $84,000 after buying an additional 448 shares during the period. Finally, Monetary Management Group Inc. bought a new stake in shares of Air Lease in the 2nd quarter valued at $95,000. 94.59% of the stock is currently owned by institutional investors and hedge funds.

Air Lease Stock Down 0.6 %

Shares of NYSE:AL opened at $47.93 on Thursday. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 2.63. The stock has a market cap of $5.34 billion, a price-to-earnings ratio of 10.92, a PEG ratio of 1.44 and a beta of 1.59. The business’s 50 day moving average is $45.20 and its 200 day moving average is $46.11. Air Lease Co. has a 12-month low of $37.65 and a 12-month high of $52.31.

Air Lease Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Thursday, December 12th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.84%. This is an increase from Air Lease’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Thursday, December 12th. Air Lease’s dividend payout ratio is presently 20.05%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on AL shares. JPMorgan Chase & Co. raised their price target on shares of Air Lease from $52.00 to $56.00 and gave the stock an “overweight” rating in a report on Tuesday, November 12th. Barclays decreased their target price on Air Lease from $55.00 to $54.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Finally, TD Cowen initiated coverage on Air Lease in a research note on Monday, July 29th. They issued a “buy” rating and a $58.00 price objective for the company. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $55.75.

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.