Public Employees Retirement System of Ohio Buys 19,540 Shares of Global Ship Lease, Inc. $GSL

Key Points

• The Public Employees Retirement System of Ohio increased its stake in Global Ship Lease, Inc. by **28.5%**, acquiring an additional **19,540 shares** during the second quarter, bringing its total ownership to **88,218 shares** valued at approximately **$2.32 million**.
• Global Ship Lease's stock is currently rated as a **"Moderate Buy"** by analysts, with an average price target of **$30.50**, following recent upgrades by multiple research firms.
• The company also announced a quarterly dividend increase to **$0.5469**, yielding **7.2%**, showcasing its steady financial performance with a reported **$2.67 earnings per share** for the last quarter.

Public Employees Retirement System of Ohio grew its position in Global Ship Lease, Inc. (NYSE:GSL - Free Report) by 28.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 88,218 shares of the shipping company's stock after purchasing an additional 19,540 shares during the period. Public Employees Retirement System of Ohio owned about 0.25% of Global Ship Lease worth $2,321,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Farther Finance Advisors LLC acquired a new position in shares of Global Ship Lease in the 2nd quarter valued at approximately $26,000. SVB Wealth LLC bought a new position in Global Ship Lease in the first quarter valued at approximately $33,000. SBI Securities Co. Ltd. boosted its holdings in shares of Global Ship Lease by 41.9% in the first quarter. SBI Securities Co. Ltd. now owns 2,430 shares of the shipping company's stock valued at $56,000 after buying an additional 717 shares during the period. NBC Securities Inc. boosted its holdings in shares of Global Ship Lease by 111,333.3% in the first quarter. NBC Securities Inc. now owns 3,343 shares of the shipping company's stock valued at $76,000 after buying an additional 3,340 shares during the period. Finally, Quarry LP increased its position in shares of Global Ship Lease by 321.6% during the first quarter. Quarry LP now owns 8,222 shares of the shipping company's stock worth $188,000 after acquiring an additional 6,272 shares in the last quarter. Institutional investors and hedge funds own 50.08% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on GSL. Jefferies Financial Group reissued a "buy" rating and issued a $33.00 price target on shares of Global Ship Lease in a research note on Tuesday, August 5th. Wall Street Zen raised Global Ship Lease from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $30.50.

Global Ship Lease Stock Down 0.4%

GSL stock opened at $30.54 on Friday. Global Ship Lease, Inc. has a fifty-two week low of $17.73 and a fifty-two week high of $33.08. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.01 and a quick ratio of 1.94. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of 2.84 and a beta of 1.20. The business's fifty day moving average price is $30.59 and its two-hundred day moving average price is $26.33.

Global Ship Lease (NYSE:GSL - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The shipping company reported $2.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.52. Global Ship Lease had a return on equity of 24.81% and a net margin of 53.09%.The business had revenue of $191.86 million during the quarter, compared to analysts' expectations of $177.98 million. On average, equities analysts anticipate that Global Ship Lease, Inc. will post 9.74 earnings per share for the current year.

Global Ship Lease Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 24th were issued a $0.5469 dividend. This represents a $2.19 dividend on an annualized basis and a dividend yield of 7.2%. This is a boost from Global Ship Lease's previous quarterly dividend of $0.53. Global Ship Lease's dividend payout ratio is 19.50%.

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.

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