Blue Trust Inc. Boosts Holdings in Global Ship Lease, Inc. (NYSE:GSL)

Blue Trust Inc. lifted its position in shares of Global Ship Lease, Inc. (NYSE:GSL) by 35.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 15,196 shares of the shipping company’s stock after purchasing an additional 4,010 shares during the quarter. Blue Trust Inc.’s holdings in Global Ship Lease were worth $332,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of GSL. Creative Planning purchased a new stake in shares of Global Ship Lease during the 2nd quarter worth about $369,000. Sanctuary Advisors LLC purchased a new stake in shares of Global Ship Lease during the 2nd quarter worth about $892,000. SG Americas Securities LLC grew its holdings in shares of Global Ship Lease by 21.7% during the 3rd quarter. SG Americas Securities LLC now owns 90,067 shares of the shipping company’s stock worth $2,400,000 after purchasing an additional 16,087 shares during the period. Simplicity Wealth LLC grew its holdings in shares of Global Ship Lease by 3.2% during the 3rd quarter. Simplicity Wealth LLC now owns 16,236 shares of the shipping company’s stock worth $433,000 after purchasing an additional 505 shares during the period. Finally, Redhawk Wealth Advisors Inc. grew its holdings in shares of Global Ship Lease by 6.8% during the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 40,578 shares of the shipping company’s stock worth $1,081,000 after purchasing an additional 2,591 shares during the period. Hedge funds and other institutional investors own 50.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on GSL shares. Jefferies Financial Group reiterated a “buy” rating and set a $29.00 target price on shares of Global Ship Lease in a report on Monday, November 11th. StockNews.com cut Global Ship Lease from a “strong-buy” rating to a “buy” rating in a report on Friday, October 25th. Finally, 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.

Global Ship Lease Stock Down 1.0 %

NYSE GSL opened at $21.60 on Friday. The stock has a market cap of $796.10 million, a PE ratio of 2.39 and a beta of 1.55. Global Ship Lease, Inc. has a fifty-two week low of $18.75 and a fifty-two week high of $30.32. The business has a 50 day moving average price of $21.79 and a two-hundred day moving average price of $23.84. The company has a quick ratio of 1.58, a current ratio of 1.64 and a debt-to-equity ratio of 0.38.

Global Ship Lease (NYSE:GSL) last announced its earnings results on Monday, November 11th. The shipping company reported $2.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $174.06 million for the quarter, compared to analyst estimates of $175.83 million. During the same period in the prior year, the company posted $2.33 EPS. As a group, sell-side analysts predict that Global Ship Lease, Inc. will post 9.74 EPS for the current fiscal year.

Global Ship Lease Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Friday, November 22nd were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 8.33%. The ex-dividend date was Friday, November 22nd. Global Ship Lease’s payout ratio is 19.93%.

About Global Ship Lease

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.