Global Ship Lease (NYSE:GSL) Upgraded at StockNews.com

StockNews.com upgraded shares of Global Ship Lease (NYSE:GSL - Free Report) from a buy rating to a strong-buy rating in a research note released on Tuesday.

A number of other equities research analysts have also recently weighed in on GSL. Clarkson Capital cut Global Ship Lease from a "buy" rating to a "neutral" rating and set a $27.00 price target for the company. in a report on Thursday, November 14th. Jefferies Financial Group restated a "buy" rating and issued a $29.00 target price on shares of Global Ship Lease in a research note on Monday, November 11th.

Global Ship Lease Price Performance

Global Ship Lease stock traded down $0.27 during trading hours on Tuesday, hitting $21.80. 667,207 shares of the stock were exchanged, compared to its average volume of 342,818. The stock has a market capitalization of $803.41 million, a P/E ratio of 2.41 and a beta of 1.53. The business's 50-day moving average is $21.98 and its two-hundred day moving average is $23.34. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.58 and a current ratio of 1.64. Global Ship Lease has a 12 month low of $18.75 and a 12 month high of $30.32.

Global Ship Lease Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Monday, February 24th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 8.26%. The ex-dividend date is Monday, February 24th. Global Ship Lease's dividend payout ratio is 19.93%.

Institutional Investors Weigh In On Global Ship Lease

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Donald Smith & CO. Inc. boosted its holdings in Global Ship Lease by 69.0% in the fourth quarter. Donald Smith & CO. Inc. now owns 3,139,470 shares of the shipping company's stock valued at $68,535,000 after acquiring an additional 1,281,941 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of Global Ship Lease by 34.9% during the 4th quarter. Renaissance Technologies LLC now owns 629,750 shares of the shipping company's stock worth $13,747,000 after buying an additional 162,900 shares during the period. Harbor Capital Advisors Inc. grew its position in shares of Global Ship Lease by 2.7% during the 4th quarter. Harbor Capital Advisors Inc. now owns 519,913 shares of the shipping company's stock worth $11,350,000 after buying an additional 13,828 shares during the period. Foundry Partners LLC raised its stake in shares of Global Ship Lease by 5.8% during the fourth quarter. Foundry Partners LLC now owns 503,745 shares of the shipping company's stock worth $10,997,000 after buying an additional 27,789 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Global Ship Lease by 2.3% in the third quarter. JPMorgan Chase & Co. now owns 391,053 shares of the shipping company's stock valued at $10,422,000 after buying an additional 8,890 shares during the period. 50.08% of the stock is owned by institutional investors and hedge funds.

Global Ship Lease Company Profile

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.