Brevan Howard Capital Management LP Reduces Position in Air Lease Corporation $AL

Brevan Howard Capital Management LP trimmed its position in Air Lease Corporation (NYSE:AL) by 54.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. WINTON GROUP Ltd raised its position in Air Lease by 585.9% during the 3rd quarter. WINTON GROUP Ltd now owns 167,825 shares of the transportation company’s stock worth $10,682,000 after buying an additional 143,357 shares during the last quarter. Savant Capital LLC purchased a new stake in shares of Air Lease in the 3rd quarter valued at $1,050,000. High Ground Investment Management LLP acquired a new stake in shares of Air Lease in the third quarter worth $34,957,000. Gabelli Funds LLC acquired a new stake in shares of Air Lease in the second quarter worth $7,473,000. Finally, Voya Investment Management LLC raised its holdings in shares of Air Lease by 104.3% during the third quarter. Voya Investment Management LLC now owns 35,641 shares of the transportation company’s stock worth $2,269,000 after purchasing an additional 18,195 shares during the last quarter. Hedge funds and other institutional investors own 94.59% of the company’s stock.

Analyst Upgrades and Downgrades

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

Air Lease Price Performance

NYSE:AL opened at $64.61 on Tuesday. The company has a debt-to-equity ratio of 2.33, a current ratio of 0.46 and a quick ratio of 0.46. The company has a 50 day moving average price of $64.57 and a 200-day moving average price of $64.02. Air Lease Corporation has a 1-year low of $38.25 and a 1-year high of $64.96. The firm has a market cap of $7.24 billion, a price-to-earnings ratio of 6.94, a price-to-earnings-growth ratio of 0.53 and a beta of 1.11.

Air Lease (NYSE:AL) last announced its quarterly earnings results on Thursday, February 12th. The transportation company reported $2.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.74. The firm had revenue of $679.54 million for the quarter, compared to the consensus estimate of $782.67 million. Air Lease had a net margin of 35.72% and a return on equity of 8.54%. The firm’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.83 earnings per share. Equities research analysts forecast that Air Lease Corporation will post 5.16 EPS for the current year.

Air Lease Announces Dividend

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

Air Lease Company 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.