Park Avenue Securities LLC Has $334,000 Stock Holdings in Air Lease Corporation $AL

Park Avenue Securities LLC trimmed its stake in shares of Air Lease Corporation (NYSE:AL) by 70.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,202 shares of the transportation company’s stock after selling 12,288 shares during the quarter. Park Avenue Securities LLC’s holdings in Air Lease were worth $334,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Pentwater Capital Management LP acquired a new position in shares of Air Lease in the 3rd quarter worth approximately $140,030,000. AQR Capital Management LLC increased its position in shares of Air Lease by 930.1% during the third quarter. AQR Capital Management LLC now owns 2,283,492 shares of the transportation company’s stock worth $145,321,000 after buying an additional 2,061,817 shares during the period. Magnetar Financial LLC bought a new position in Air Lease during the third quarter worth $100,534,000. Norges Bank bought a new position in Air Lease during the second quarter worth $71,910,000. Finally, AQR Arbitrage LLC acquired a new position in Air Lease in the third quarter valued at $64,190,000. 94.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Air Lease Trading Down 0.0%

NYSE:AL opened at $64.79 on Monday. 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 firm has a 50-day moving average of $64.65 and a 200-day moving average of $64.14. The company has a market cap of $7.26 billion, a PE ratio of 6.96, a PEG ratio of 0.54 and a beta of 1.11. Air Lease Corporation has a one year low of $38.25 and a one year high of $64.96.

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

Air Lease Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 7th. Stockholders of record on Monday, March 2nd will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Monday, March 2nd. Air Lease’s dividend payout ratio (DPR) is currently 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.