Corient Private Wealth LLC Invests $305,000 in Global Ship Lease, Inc. (NYSE:GSL)

Corient Private Wealth LLC purchased a new stake in shares of Global Ship Lease, Inc. (NYSE:GSL) in the fourth quarter, Holdings Channel.com reports. The fund purchased 13,966 shares of the shipping company’s stock, valued at approximately $305,000.

Other institutional investors have also recently bought and sold shares of the company. Point72 Asset Management L.P. acquired a new position in Global Ship Lease during the 3rd quarter worth about $712,000. DGS Capital Management LLC raised its stake in shares of Global Ship Lease by 125.1% in the fourth quarter. DGS Capital Management LLC now owns 46,158 shares of the shipping company’s stock worth $1,008,000 after acquiring an additional 25,651 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Global Ship Lease during the fourth quarter worth approximately $37,000. Public Employees Retirement System of Ohio acquired a new position in shares of Global Ship Lease during the third quarter worth approximately $1,441,000. Finally, JPMorgan Chase & Co. grew its stake in shares of Global Ship Lease by 2.3% during the third quarter. JPMorgan Chase & Co. now owns 391,053 shares of the shipping company’s stock valued at $10,422,000 after purchasing an additional 8,890 shares during the last quarter. Institutional investors own 50.08% of the company’s stock.

Global Ship Lease Trading Down 1.1 %

NYSE GSL opened at $22.82 on Tuesday. Global Ship Lease, Inc. has a 12 month low of $20.11 and a 12 month high of $30.32. The stock has a 50-day simple moving average of $22.41 and a 200 day simple moving average of $23.01. The company has a current ratio of 1.64, a quick ratio of 1.58 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $809.04 million, a PE ratio of 2.53 and a beta of 1.47.

Global Ship Lease (NYSE:GSL) last announced its quarterly earnings results on Wednesday, March 5th. The shipping company reported $2.55 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.25. Global Ship Lease had a net margin of 46.38% and a return on equity of 27.88%. The business had revenue of $182.43 million for the quarter, compared to the consensus estimate of $170.71 million. Research analysts forecast that Global Ship Lease, Inc. will post 9.74 EPS for the current year.

Global Ship Lease Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Monday, February 24th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.89%. Global Ship Lease’s dividend payout ratio is 18.50%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on GSL. Jefferies Financial Group restated a “buy” rating and issued a $29.00 price objective on shares of Global Ship Lease in a research report on Wednesday, March 5th. StockNews.com downgraded shares of Global Ship Lease from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 7th. Finally, Clarkson Capital raised shares of Global Ship Lease from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 19th.

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.