DLD Asset Management LP Makes New $3.34 Million Investment in Air Lease Corporation $AL

DLD Asset Management LP bought a new position in shares of Air Lease Corporation (NYSE:AL) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 52,396 shares of the transportation company’s stock, valued at approximately $3,335,000.

A number of other large investors have also recently made changes to their positions in the stock. Norges Bank bought a new position in shares of Air Lease in the second quarter worth about $71,910,000. High Ground Investment Management LLP bought a new stake in Air Lease during the 3rd quarter valued at about $34,957,000. Cubist Systematic Strategies LLC bought a new stake in Air Lease during the 2nd quarter valued at about $22,986,000. Adage Capital Partners GP L.L.C. bought a new stake in Air Lease during the 2nd quarter valued at about $22,217,000. Finally, Boston Partners boosted its position in Air Lease by 104.4% in the 2nd quarter. Boston Partners now owns 648,679 shares of the transportation company’s stock valued at $37,938,000 after buying an additional 331,291 shares during the period. 94.59% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Air Lease in a research note on Wednesday, January 21st. Zacks Research upgraded Air Lease from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 18th. Finally, Barclays reaffirmed 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 equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $66.00.

Insiders Place Their Bets

In other Air Lease news, Director Steven F. Udvar-Hazy sold 64,000 shares of the stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $64.02, for a total transaction of $4,097,280.00. Following the completion of the sale, the director directly owned 74,000 shares of the company’s stock, valued at approximately $4,737,480. This represents a 46.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Kishore Korde sold 20,662 shares of the firm’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $64.10, for a total transaction of $1,324,434.20. Following the completion of the sale, the executive vice president owned 50,091 shares in the company, valued at $3,210,833.10. This represents a 29.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 483,125 shares of company stock worth $30,937,868. 6.80% of the stock is owned by corporate insiders.

Air Lease Stock Down 0.1%

Air Lease stock opened at $64.52 on Monday. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 2.33. The firm has a market cap of $7.23 billion, a P/E ratio of 6.93, a P/E/G ratio of 0.53 and a beta of 1.11. The business has a fifty day moving average of $64.51 and a two-hundred day moving average of $63.83. Air Lease Corporation has a twelve month low of $38.25 and a twelve month 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 (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.74. The business had revenue of $679.54 million for the quarter, compared to the consensus estimate of $782.67 million. Air Lease had a return on equity of 8.54% and a net margin of 35.72%.The business’s revenue was up 15.1% compared to the same quarter last year. During the same period last year, the business posted $0.83 EPS. On average, analysts forecast 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 paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.4%. The ex-dividend date is Monday, March 2nd. Air Lease’s payout ratio is 9.45%.

About Air Lease

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.