State Street Corp Has $7.37 Million Position in Global Ship Lease, Inc. (NYSE:GSL)

State Street Corp increased its holdings in Global Ship Lease, Inc. (NYSE:GSL) by 1.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 276,415 shares of the shipping company’s stock after purchasing an additional 3,346 shares during the period. State Street Corp owned approximately 0.75% of Global Ship Lease worth $7,366,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quarry LP grew its stake in shares of Global Ship Lease by 75.0% in the 3rd quarter. Quarry LP now owns 3,495 shares of the shipping company’s stock valued at $93,000 after purchasing an additional 1,498 shares during the period. Point72 Asset Management L.P. bought a new stake in Global Ship Lease in the third quarter valued at $712,000. Janus Henderson Group PLC raised its stake in Global Ship Lease by 5.7% during the third quarter. Janus Henderson Group PLC now owns 46,179 shares of the shipping company’s stock worth $1,231,000 after acquiring an additional 2,478 shares in the last quarter. Centiva Capital LP lifted its holdings in shares of Global Ship Lease by 87.7% during the third quarter. Centiva Capital LP now owns 26,447 shares of the shipping company’s stock valued at $705,000 after acquiring an additional 12,354 shares during the period. Finally, Dynamic Technology Lab Private Ltd lifted its holdings in shares of Global Ship Lease by 12.2% during the third quarter. Dynamic Technology Lab Private Ltd now owns 30,992 shares of the shipping company’s stock valued at $826,000 after acquiring an additional 3,377 shares during the period. Institutional investors own 50.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. StockNews.com cut shares of Global Ship Lease from a “strong-buy” rating to a “buy” rating in a research report on Friday, October 25th. Clarkson Capital lowered shares of Global Ship Lease from a “buy” rating to a “neutral” rating and set a $27.00 price objective for the company. in a report on Thursday, November 14th. Finally, Jefferies Financial Group restated a “buy” rating and set a $29.00 price target on shares of Global Ship Lease in a research report on Monday, November 11th.

Global Ship Lease Stock Performance

Global Ship Lease stock opened at $21.80 on Friday. The stock has a 50-day simple moving average of $22.81 and a 200 day simple moving average of $24.97. The stock has a market capitalization of $803.59 million, a price-to-earnings ratio of 2.41 and a beta of 1.55. 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, Inc. has a 12-month low of $18.75 and a 12-month high of $30.32.

Global Ship Lease (NYSE:GSL) last announced its earnings results on Monday, November 11th. The shipping company reported $2.45 earnings per share for the quarter, topping analysts’ consensus estimates of $2.43 by $0.02. Global Ship Lease had a net margin of 46.38% and a return on equity of 27.88%. The company 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 firm posted $2.33 earnings per share. On average, research analysts anticipate that Global Ship Lease, Inc. will post 9.85 earnings per share for the current fiscal year.

Global Ship Lease Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Friday, November 22nd were 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 was Friday, November 22nd. Global Ship Lease’s dividend payout ratio is 19.93%.

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.