NINE MASTS CAPITAL Ltd Takes Position in Air Lease Co. (NYSE:AL)

NINE MASTS CAPITAL Ltd bought a new position in Air Lease Co. (NYSE:AL) in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 25,714 shares of the transportation company’s stock, valued at approximately $1,222,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AL. Thornburg Investment Management Inc. purchased a new position in shares of Air Lease in the second quarter worth about $7,885,000. Qsemble Capital Management LP acquired a new position in Air Lease in the 2nd quarter worth approximately $354,000. American Century Companies Inc. raised its position in Air Lease by 5.0% during the 2nd quarter. American Century Companies Inc. now owns 2,433,676 shares of the transportation company’s stock worth $115,673,000 after buying an additional 115,293 shares during the last quarter. Texas Permanent School Fund Corp lifted its stake in Air Lease by 5.2% during the 2nd quarter. Texas Permanent School Fund Corp now owns 95,042 shares of the transportation company’s stock valued at $4,517,000 after acquiring an additional 4,674 shares during the period. Finally, Hahn Capital Management LLC boosted its holdings in shares of Air Lease by 20.2% in the 2nd quarter. Hahn Capital Management LLC now owns 131,470 shares of the transportation company’s stock valued at $6,249,000 after acquiring an additional 22,053 shares during the last quarter. Institutional investors and hedge funds own 94.59% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on AL. JPMorgan Chase & Co. reduced their target price on shares of Air Lease from $54.00 to $52.00 and set an “overweight” rating for the company in a report on Monday, August 5th. TD Cowen began coverage on Air Lease in a research report on Monday, July 29th. They set a “buy” rating and a $58.00 price target on the stock. Finally, Barclays decreased their price objective on Air Lease from $55.00 to $54.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. One equities 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 currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.75.

Air Lease Stock Performance

AL opened at $42.30 on Thursday. The firm has a fifty day moving average price of $45.88 and a 200 day moving average price of $47.02. Air Lease Co. has a 1 year low of $33.33 and a 1 year high of $52.31. The stock has a market cap of $4.71 billion, a P/E ratio of 8.53, a P/E/G ratio of 0.92 and a beta of 1.59. The company has a debt-to-equity ratio of 2.69, a current ratio of 0.50 and a quick ratio of 0.50.

Air Lease (NYSE:AL) last issued its quarterly earnings data on Thursday, August 1st. The transportation company reported $1.15 earnings per share for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.41). Air Lease had a return on equity of 8.97% and a net margin of 20.85%. The firm had revenue of $667.29 million during the quarter, compared to analyst estimates of $687.93 million. Equities research analysts anticipate that Air Lease Co. will post 6.68 earnings per share for the current year.

Air Lease Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 9th. Shareholders of record on Friday, September 6th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $0.84 dividend on an annualized basis and a yield of 1.99%. Air Lease’s dividend payout ratio is currently 16.94%.

About Air Lease

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.