Brevan Howard Capital Management LP Cuts Holdings in Air Lease Corporation $AL

Brevan Howard Capital Management LP decreased its holdings in Air Lease Corporation (NYSE:AL) by 54.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 43,667 shares of the transportation company’s stock after selling 51,811 shares during the period. Brevan Howard Capital Management LP’s holdings in Air Lease were worth $2,779,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of AL. AQR Capital Management LLC raised its position in shares of Air Lease by 930.1% in the 3rd quarter. AQR Capital Management LLC now owns 2,283,492 shares of the transportation company’s stock worth $145,321,000 after acquiring an additional 2,061,817 shares in the last quarter. Magnetar Financial LLC bought a new stake in Air Lease during the third quarter valued at about $100,534,000. Norges Bank purchased a new position in Air Lease in the second quarter valued at about $71,910,000. AQR Arbitrage LLC bought a new position in Air Lease in the third quarter worth about $64,190,000. Finally, High Ground Investment Management LLP bought a new position in Air Lease in the third quarter worth about $34,957,000. Hedge funds and other institutional investors own 94.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Barclays restated an “equal weight” rating and issued a $65.00 price target (down from $68.00) on shares of Air Lease in a report on Tuesday, January 6th. Zacks Research raised shares of Air Lease from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 18th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Air Lease in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $66.00.

Air Lease Trading Up 0.1%

Shares of NYSE:AL opened at $64.61 on Tuesday. The business’s 50-day moving average is $64.57 and its 200 day moving average is $64.02. The company has a debt-to-equity ratio of 2.33, a current ratio of 0.46 and a quick ratio of 0.46. Air Lease Corporation has a 1 year low of $38.25 and a 1 year high of $64.96. The firm has a market capitalization of $7.24 billion, a P/E ratio of 6.94, a P/E/G ratio of 0.53 and a beta of 1.11.

Air Lease (NYSE:AL) last issued its quarterly earnings results on Thursday, February 12th. The transportation company reported $2.20 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.74. Air Lease had a return on equity of 8.54% and a net margin of 35.72%.The business had revenue of $679.54 million during the quarter, compared to the consensus estimate of $782.67 million. During the same quarter last year, the company earned $0.83 earnings per share. The company’s quarterly revenue was up 15.1% on a year-over-year basis. On average, research analysts predict that Air Lease Corporation will post 5.16 earnings per share for the current fiscal year.

Air Lease Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 7th. Shareholders of record on Monday, March 2nd will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Monday, March 2nd. Air Lease’s payout ratio is currently 9.45%.

Air Lease Profile

Air Lease Corporation (NYSE: AL) is a leading aircraft leasing company that acquires commercial jet aircraft and leases them to airlines worldwide. The firm’s core business activities include direct aircraft acquisition, lease management and portfolio remarketing. By structuring sale‐and‐leaseback transactions, operating leases and secured loans, Air Lease provides flexible financing solutions that enable carriers to modernize their fleets without committing large amounts of capital to ownership.

Founded in 2010 and headquartered in Los Angeles, Air Lease Corporation serves a diverse customer base spanning North America, Europe, Asia, Latin America and the Middle East.