Public Employees Retirement System of Ohio Makes New Investment in Global Ship Lease, Inc. (NYSE:GSL)

Public Employees Retirement System of Ohio bought a new stake in shares of Global Ship Lease, Inc. (NYSE:GSL) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund bought 54,053 shares of the shipping company’s stock, valued at approximately $1,441,000. Public Employees Retirement System of Ohio owned about 0.15% of Global Ship Lease as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. raised its stake in Global Ship Lease by 2,642.1% during the 2nd quarter. Blue Trust Inc. now owns 3,126 shares of the shipping company’s stock worth $90,000 after buying an additional 3,012 shares during the period. Summit Securities Group LLC lifted its holdings in shares of Global Ship Lease by 404.2% during the 2nd quarter. Summit Securities Group LLC now owns 12,100 shares of the shipping company’s stock valued at $348,000 after purchasing an additional 9,700 shares in the last quarter. Signaturefd LLC grew its position in shares of Global Ship Lease by 23.3% in the 2nd quarter. Signaturefd LLC now owns 2,526 shares of the shipping company’s stock valued at $73,000 after purchasing an additional 477 shares during the period. nVerses Capital LLC boosted its holdings in shares of Global Ship Lease by 355.6% in the second quarter. nVerses Capital LLC now owns 4,100 shares of the shipping company’s stock valued at $118,000 after buying an additional 3,200 shares during the period. Finally, Ritholtz Wealth Management acquired a new position in Global Ship Lease in the 2nd quarter worth $221,000. Institutional investors and hedge funds own 50.08% of the company’s stock.

Global Ship Lease Trading Up 0.2 %

Shares of NYSE:GSL opened at $21.35 on Thursday. Global Ship Lease, Inc. has a 12-month low of $18.75 and a 12-month high of $30.32. The business has a 50 day moving average of $23.24 and a 200-day moving average of $25.31. The company has a quick ratio of 1.58, a current ratio of 1.64 and a debt-to-equity ratio of 0.38. The stock has a market cap of $787.00 million, a PE ratio of 2.36 and a beta of 1.55.

Global Ship Lease (NYSE:GSL) last released its quarterly earnings results on Monday, November 11th. The shipping company reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.43 by $0.02. Global Ship Lease had a return on equity of 27.88% and a net margin of 46.38%. The business had revenue of $174.06 million during the quarter, compared to the consensus estimate of $175.83 million. During the same period in the previous year, the company posted $2.33 EPS. As a group, equities research analysts forecast that Global Ship Lease, Inc. will post 9.85 earnings per share for the current year.

Global Ship Lease Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Friday, November 22nd were paid a $0.45 dividend. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $1.80 annualized dividend and a dividend yield of 8.43%. Global Ship Lease’s dividend payout ratio (DPR) is presently 19.93%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Clarkson Capital cut Global Ship Lease from a “buy” rating to a “neutral” rating and set a $27.00 target price on the stock. in a research note on Thursday, November 14th. Jefferies Financial Group reiterated a “buy” rating and set a $29.00 price objective on shares of Global Ship Lease in a research note on Monday, November 11th. Finally, StockNews.com downgraded Global Ship Lease from a “strong-buy” rating to a “buy” rating in a report on Friday, October 25th.

Global Ship Lease 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.