Boothbay Fund Management Cuts Aercap Holdings Stake by 11.3%

Boothbay Fund Management LLC has reduced its stake in Aercap Holdings N.V. by 11.3% during the second quarter of 2023. According to its latest filing with the U.S. Securities and Exchange Commission (SEC), the firm currently holds 71,264 shares after selling 9,100 shares in the specified period. This adjustment brings Boothbay’s total investment in Aercap to approximately $8.34 million.

Several other institutional investors have also made changes to their holdings in Aercap recently. Quarry LP entered the scene by acquiring a new stake valued at $37,000 in the first quarter. Meanwhile, Caitong International Asset Management Co. Ltd purchased a new position valued at around $43,000 during the second quarter. Geneos Wealth Management Inc. increased its position by 26.6% during the first quarter, holding 447 shares valued at $46,000 after acquiring an additional 94 shares. Whittier Trust Co. and Summit Securities Group LLC also took new stakes worth approximately $53,000 and $64,000 respectively in the second and first quarters of 2023. Notably, institutional investors and hedge funds now own 96.42% of Aercap’s stock.

Aercap shares opened at $139.41 on Friday, reflecting a decrease of 1.2%. The stock has experienced a 52-week low of $85.57 and a high of $142.25. The company has a market capitalization of $26.04 billion, a price-to-earnings (P/E) ratio of 6.60, and a P/E/G ratio of 0.74. Its current and quick ratios stand at 0.30, and the debt-to-equity ratio is 2.43.

Recent Dividend Announcement

Aercap also recently declared a quarterly dividend, which was paid on December 4, 2023. Shareholders of record on November 12, 2023, received a dividend of $0.27 per share, resulting in an annualized dividend of $1.08 and a yield of 0.8%. The ex-dividend date was the same, November 12. The company’s dividend payout ratio (DPR) stands at 5.12%.

Analyst Ratings Update

In recent assessments, several brokerages have revised their price targets for Aercap. TD Cowen raised its price objective from $135.00 to $150.00 and assigned a “buy” rating on October 30, 2023. Morgan Stanley followed suit, increasing its target from $120.00 to $150.00 with an “equal weight” rating on November 11, 2023. Truist Financial initiated coverage with a “buy” rating and a target of $159.00 on the same date.

Susquehanna also increased its price objective from $134.00 to $157.00 while giving Aercap a “positive” rating. Bank of America similarly raised its target from $130.00 to $150.00 and assigned a “buy” rating on November 4, 2023. Overall, one analyst has rated the stock as a Strong Buy, while eight have issued a Buy rating, one has given a Hold rating, and one has assigned a Sell rating. According to MarketBeat.com, Aercap currently holds an average rating of “Moderate Buy” with a consensus target price of $146.29.

Aercap Holdings N.V. specializes in the leasing, financing, sale, and management of commercial flight equipment across various regions, including China, Hong Kong, Macau, the United States, and Ireland. The company also provides aircraft asset management services, which encompass remarketing aircraft and engines, collecting rental payments, and monitoring maintenance compliance.