Foundry Partners LLC Increases Stake in Global Ship Lease, Inc. (NYSE:GSL)

Foundry Partners LLC boosted its stake in Global Ship Lease, Inc. (NYSE:GSL) by 3.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 327,709 shares of the shipping company’s stock after purchasing an additional 12,241 shares during the period. Foundry Partners LLC owned about 0.93% of Global Ship Lease worth $9,435,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Signaturefd LLC increased its stake in Global Ship Lease by 23.3% in the 2nd quarter. Signaturefd LLC now owns 2,526 shares of the shipping company’s stock worth $73,000 after purchasing an additional 477 shares during the period. Mather Group LLC. bought a new stake in shares of Global Ship Lease in the 2nd quarter worth approximately $88,000. Blue Trust Inc. grew its position in shares of Global Ship Lease by 2,642.1% in 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 last quarter. nVerses Capital LLC grew its position in shares of Global Ship Lease by 355.6% in the 2nd quarter. nVerses Capital LLC now owns 4,100 shares of the shipping company’s stock worth $118,000 after buying an additional 3,200 shares during the last quarter. Finally, Quadrant Capital Group LLC grew its position in shares of Global Ship Lease by 150.2% in the 4th quarter. Quadrant Capital Group LLC now owns 7,186 shares of the shipping company’s stock worth $142,000 after buying an additional 4,314 shares during the last quarter. 50.08% of the stock is owned by hedge funds and other institutional investors.

Global Ship Lease Stock Down 1.5 %

Shares of NYSE GSL traded down $0.36 during mid-day trading on Friday, hitting $23.43. 61,664 shares of the stock traded hands, compared to its average volume of 622,586. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.36 and a current ratio of 1.42. Global Ship Lease, Inc. has a 52 week low of $16.80 and a 52 week high of $30.32. The company has a market cap of $824.45 million, a price-to-earnings ratio of 2.68 and a beta of 1.64. The stock has a fifty day moving average price of $26.18 and a 200-day moving average price of $24.55.

Global Ship Lease (NYSE:GSL) last released its quarterly earnings results on Monday, August 5th. The shipping company reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.19. Global Ship Lease had a return on equity of 28.92% and a net margin of 46.90%. The company had revenue of $175.00 million for the quarter, compared to analyst estimates of $172.07 million. During the same period in the previous year, the company posted $2.09 earnings per share. Research analysts anticipate that Global Ship Lease, Inc. will post 9.9 EPS for the current year.

Global Ship Lease Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Friday, August 23rd were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, August 23rd. This is a positive change from Global Ship Lease’s previous quarterly dividend of $0.38. This represents a $1.80 annualized dividend and a dividend yield of 7.68%. Global Ship Lease’s payout ratio is currently 16.95%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on GSL shares. Jefferies Financial Group reiterated a “buy” rating and issued a $29.00 price objective on shares of Global Ship Lease in a research report on Monday, August 5th. StockNews.com upgraded Global Ship Lease from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 28th. Finally, Clarkson Capital upgraded Global Ship Lease from a “neutral” rating to a “buy” rating in a research report on Thursday, August 8th.

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.