State of New Jersey Common Pension Fund D Acquires New Shares in Global Ship Lease, Inc. $GSL

State of New Jersey Common Pension Fund D acquired a new position in shares of Global Ship Lease, Inc. (NYSE:GSL) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 14,844 shares of the shipping company’s stock, valued at approximately $456,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Avion Wealth acquired a new stake in shares of Global Ship Lease during the third quarter worth about $39,000. State of Alaska Department of Revenue bought a new stake in Global Ship Lease during the 3rd quarter worth approximately $61,000. Allworth Financial LP raised its holdings in Global Ship Lease by 6,605.4% during the 2nd quarter. Allworth Financial LP now owns 2,481 shares of the shipping company’s stock worth $65,000 after buying an additional 2,444 shares during the period. SBI Securities Co. Ltd. lifted its stake in Global Ship Lease by 29.0% in the third quarter. SBI Securities Co. Ltd. now owns 2,179 shares of the shipping company’s stock valued at $67,000 after buying an additional 490 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in shares of Global Ship Lease by 173.0% in the third quarter. Farther Finance Advisors LLC now owns 2,673 shares of the shipping company’s stock valued at $82,000 after buying an additional 1,694 shares during the period. 50.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Global Ship Lease in a report on Thursday, January 22nd. Jefferies Financial Group lifted their price target on Global Ship Lease from $33.00 to $39.00 and gave the company a “buy” rating in a research note on Monday, November 10th. Finally, Zacks Research cut Global Ship Lease from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 23rd. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Global Ship Lease has an average rating of “Moderate Buy” and a consensus target price of $33.50.

Global Ship Lease Stock Up 1.3%

Global Ship Lease stock opened at $40.39 on Friday. The company has a current ratio of 2.19, a quick ratio of 2.14 and a debt-to-equity ratio of 0.34. Global Ship Lease, Inc. has a 1-year low of $17.73 and a 1-year high of $40.66. The company has a fifty day simple moving average of $36.61 and a 200 day simple moving average of $33.43. The company has a market cap of $1.44 billion, a P/E ratio of 3.63 and a beta of 0.93.

Global Ship Lease Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Tuesday, February 24th will be given a $0.625 dividend. The ex-dividend date of this dividend is Tuesday, February 24th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 6.2%. Global Ship Lease’s payout ratio is currently 22.44%.

About Global Ship Lease

Global Ship Lease (NYSE: GSL) is a Bermuda-based containership charter owner focused on acquiring, owning and leasing modern, fuel-efficient vessels to major liner operators. Founded in 2011 and listed on the New York Stock Exchange the same year, the company’s fleet primarily comprises post-Panamax containerships designed to serve the high-volume Asia–Europe and transpacific shipping lanes. By specializing in long-term charter agreements, Global Ship Lease aims to maintain stable revenue streams and minimize spot-market volatility.

The company’s business model centers on negotiating multi-year time charters with leading global shipping lines.