Foundry Partners LLC Sells 5,085 Shares of Global Ship Lease, Inc. (NYSE:GSL)

Foundry Partners LLC trimmed its holdings in shares of Global Ship Lease, Inc. (NYSE:GSL) by 1.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 300,939 shares of the shipping company’s stock after selling 5,085 shares during the quarter. Foundry Partners LLC owned 0.84% of Global Ship Lease worth $5,965,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of GSL. Janney Montgomery Scott LLC increased its position in Global Ship Lease by 2.7% in the third quarter. Janney Montgomery Scott LLC now owns 23,037 shares of the shipping company’s stock worth $423,000 after buying an additional 603 shares during the last quarter. Signaturefd LLC boosted its stake in Global Ship Lease by 87.6% during the fourth quarter. Signaturefd LLC now owns 2,024 shares of the shipping company’s stock valued at $40,000 after buying an additional 945 shares during the period. Kestra Advisory Services LLC boosted its stake in Global Ship Lease by 12.0% during the third quarter. Kestra Advisory Services LLC now owns 11,808 shares of the shipping company’s stock valued at $217,000 after buying an additional 1,264 shares during the period. WINTON GROUP Ltd boosted its stake in Global Ship Lease by 6.5% during the third quarter. WINTON GROUP Ltd now owns 21,500 shares of the shipping company’s stock valued at $394,000 after buying an additional 1,311 shares during the period. Finally, Exchange Traded Concepts LLC boosted its stake in Global Ship Lease by 7.4% during the third quarter. Exchange Traded Concepts LLC now owns 21,303 shares of the shipping company’s stock valued at $391,000 after buying an additional 1,477 shares during the period. 50.08% of the stock is owned by hedge funds and other institutional investors.

Global Ship Lease Trading Up 2.0 %

Shares of GSL traded up $0.42 during trading hours on Monday, hitting $21.76. The company had a trading volume of 185,395 shares, compared to its average volume of 655,343. Global Ship Lease, Inc. has a 52-week low of $16.80 and a 52-week high of $21.94. The firm has a market cap of $765.73 million, a P/E ratio of 2.56 and a beta of 1.50. The company has a quick ratio of 1.00, a current ratio of 1.05 and a debt-to-equity ratio of 0.52. The stock’s 50 day moving average price is $20.38 and its 200 day moving average price is $19.53.

Global Ship Lease (NYSE:GSL) last announced its quarterly earnings results on Monday, March 4th. The shipping company reported $2.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.34 by $0.15. Global Ship Lease had a return on equity of 29.87% and a net margin of 45.12%. The company had revenue of $178.89 million for the quarter, compared to the consensus estimate of $171.54 million. During the same quarter in the previous year, the business earned $2.14 EPS. On average, research analysts predict that Global Ship Lease, Inc. will post 9.4 EPS for the current year.

Global Ship Lease Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 6th. Shareholders of record on Thursday, February 22nd were issued a dividend of $0.375 per share. The ex-dividend date was Wednesday, February 21st. This represents a $1.50 dividend on an annualized basis and a dividend yield of 6.89%. Global Ship Lease’s dividend payout ratio (DPR) is 18.01%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on GSL. Jefferies Financial Group reaffirmed a “buy” rating and set a $25.00 price target on shares of Global Ship Lease in a research note on Monday, March 4th. StockNews.com raised Global Ship Lease from a “buy” rating to a “strong-buy” rating in a research note on Monday, April 15th.

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.