Foundry Partners LLC increased its holdings in shares of Global Ship Lease, Inc. (NYSE:GSL - Free Report) by 5.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 503,745 shares of the shipping company's stock after purchasing an additional 27,789 shares during the period. Foundry Partners LLC owned 1.37% of Global Ship Lease worth $10,997,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently added to or reduced their stakes in the stock. Donald Smith & CO. Inc. lifted its position in Global Ship Lease by 69.0% during the 4th quarter. Donald Smith & CO. Inc. now owns 3,139,470 shares of the shipping company's stock worth $68,535,000 after acquiring an additional 1,281,941 shares in the last quarter. Trexquant Investment LP lifted its holdings in Global Ship Lease by 46.7% in the 4th quarter. Trexquant Investment LP now owns 183,684 shares of the shipping company's stock worth $4,010,000 after buying an additional 58,470 shares in the last quarter. Fox Run Management L.L.C. acquired a new stake in shares of Global Ship Lease during the fourth quarter valued at about $1,238,000. Public Employees Retirement System of Ohio bought a new stake in shares of Global Ship Lease in the third quarter worth $1,441,000. Finally, Raymond James Financial Inc. bought a new stake in Global Ship Lease in the fourth quarter valued at about $633,000. 50.08% of the stock is currently owned by institutional investors and hedge funds.
Global Ship Lease Stock Performance
Global Ship Lease stock traded down $0.31 during midday trading on Wednesday, reaching $17.94. 249,233 shares of the stock traded hands, compared to its average volume of 468,903. Global Ship Lease, Inc. has a fifty-two week low of $17.74 and a fifty-two week high of $30.32. The firm has a market cap of $636.06 million, a price-to-earnings ratio of 1.99 and a beta of 1.21. The firm has a fifty day moving average price of $22.27 and a two-hundred day moving average price of $22.82. The company has a current ratio of 1.64, a quick ratio of 1.58 and a debt-to-equity ratio of 0.38.
Global Ship Lease (NYSE:GSL - Get Free Report) last announced its quarterly earnings data on Wednesday, March 5th. The shipping company reported $2.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.25. The company had revenue of $182.43 million for the quarter, compared to analysts' expectations of $170.71 million. Global Ship Lease had a net margin of 46.38% and a return on equity of 27.88%. On average, equities research analysts forecast that Global Ship Lease, Inc. will post 9.74 earnings per share for the current year.
Global Ship Lease Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Monday, February 24th were issued a dividend of $0.45 per share. The ex-dividend date was Monday, February 24th. This represents a $1.80 annualized dividend and a dividend yield of 10.03%. Global Ship Lease's dividend payout ratio is 18.50%.
Wall Street Analyst Weigh In
GSL has been the subject of a number of recent research reports. Jefferies Financial Group reaffirmed a "buy" rating and set a $29.00 price objective on shares of Global Ship Lease in a research report on Wednesday, March 5th. Clarkson Capital upgraded Global Ship Lease from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 19th. Finally, StockNews.com lowered Global Ship Lease from a "strong-buy" rating to a "buy" rating in a research report on Friday, March 7th.
Get Our Latest Research Report on Global Ship Lease
About Global Ship Lease
(
Free Report)
Global Ship Lease, Inc, together with its subsidiaries, engages in owning and chartering of containerships under fixed-rate charters to container shipping companies worldwide. As of March 11, 2024, it owned 68 mid-sized and smaller containerships, ranging from 2,207 to 11,040 twenty-foot equivalent unit (TEU), with an aggregate capacity of 375,406 TEU.
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