Should You Invest in Air Lease Corporation (AL)?

Artisan Partners, an investment management company, released its “Artisan Value Income Fund” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, its Investor Class fund APFWX returned 10.25%, Advisor Class fund APDWX posted a return of 10.23%, and Institutional Class fund APHWX returned 10.24%, compared to a return of 7.56% for the S&P 500 Index. In addition, please check the fund’s top five holdings to know its best picks in 2022.

Artisan Value Income Fund highlighted stocks like Air Lease Corporation (NYSE:AL) in the fourth quarter 2022 investor letter. Headquartered in Los Angeles, California, Air Lease Corporation (NYSE:AL) is an aircraft leasing company. On April 6, 2023, Air Lease Corporation (NYSE:AL) stock closed at $38.89 per share. One-month return of Air Lease Corporation (NYSE:AL) was -2.09%, and its shares lost 7.93% of their value over the last 52 weeks. Air Lease Corporation (NYSE:AL) has a market capitalization of $4.34 billion.

Artisan Value Income Fund made the following comment about Air Lease Corporation (NYSE:AL) in its Q4 2022 investor letter:

“Examples of Capital Structure investments include previously discussed Cable One and Air Lease Corporation (NYSE:AL). Air Lease is an airplane leasing firm, maintaining a diversified fleet of next-generation, fuel-efficient, low operational-cost aircraft. Increased demand for air travel by the global emerging middle class, along with the rise of ultra-low-cost carriers, provides secular tailwinds to the business. Travel demand is benefiting from more markets removing pandemic-related travel restrictions, while an industry aircraft shortage is supporting higher lease rates. Further, management continues to execute well and manage capital wisely, in our view, using excess cash to repurchase stock at attractive prices. Our original investment in Air Lease included not only the common stock, which was paying a dividend yielding about 2%, but also its perpetual preferred stock paying a 4.125% coupon. We sold the common stock in Q3 in favor of better opportunities but continue to hold the preferred.”

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Air Lease Corporation (NYSE:AL) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 28 hedge fund portfolios held Air Lease Corporation (NYSE:AL) at the end of the fourth quarter which was 24 in the previous quarter.

We discussed Air Lease Corporation (NYSE:AL) in another article and shared the list of biggest leasing companies in the world. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.