Global Ship Lease, Inc. (GSL) To Go Ex-Dividend on May 22nd

Global Ship Lease, Inc. (NYSE:GSL) declared a quarterly dividend on Monday, May 11th. Investors of record on Friday, May 22nd will be given a dividend of 0.625 per share by the shipping company on Wednesday, June 3rd. This represents a c) dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date is Friday, May 22nd.

Global Ship Lease has a payout ratio of 27.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Global Ship Lease to earn $10.93 per share next year, which means the company should continue to be able to cover its $2.50 annual dividend with an expected future payout ratio of 22.9%.

Global Ship Lease Stock Down 0.1%

Global Ship Lease stock opened at $41.73 on Wednesday. The company has a quick ratio of 2.00, a current ratio of 2.04 and a debt-to-equity ratio of 0.30. Global Ship Lease has a 12-month low of $23.45 and a 12-month high of $42.70. The firm’s fifty day moving average is $38.92 and its 200 day moving average is $36.57. The company has a market capitalization of $1.50 billion, a PE ratio of 3.66 and a beta of 0.96.

Global Ship Lease (NYSE:GSL) last released its earnings results on Thursday, March 5th. The shipping company reported $2.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.31 by $0.01. Global Ship Lease had a net margin of 54.33% and a return on equity of 22.35%. The company had revenue of $190.95 million for the quarter, compared to the consensus estimate of $188.39 million. The company’s revenue was up 4.7% compared to the same quarter last year. As a group, sell-side analysts predict that Global Ship Lease will post 9.68 EPS for the current fiscal year.

Insiders Place Their Bets

In other Global Ship Lease news, insider Georgios Giannopoulos sold 7,692 shares of the company’s stock in a transaction on Tuesday, April 7th. The shares were sold at an average price of $38.51, for a total transaction of $296,218.92. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Institutional Trading of Global Ship Lease

Several institutional investors and hedge funds have recently modified their holdings of the stock. Two Sigma Investments LP raised its stake in shares of Global Ship Lease by 2.7% in the third quarter. Two Sigma Investments LP now owns 626,787 shares of the shipping company’s stock worth $19,242,000 after purchasing an additional 16,188 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Global Ship Lease by 5.3% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 613,287 shares of the shipping company’s stock worth $16,136,000 after purchasing an additional 31,047 shares during the last quarter. Qube Research & Technologies Ltd raised its stake in shares of Global Ship Lease by 23.4% in the third quarter. Qube Research & Technologies Ltd now owns 567,442 shares of the shipping company’s stock worth $17,420,000 after purchasing an additional 107,651 shares during the last quarter. CSM Advisors LLC raised its stake in shares of Global Ship Lease by 3.0% in the fourth quarter. CSM Advisors LLC now owns 446,060 shares of the shipping company’s stock worth $15,629,000 after purchasing an additional 13,141 shares during the last quarter. Finally, State Street Corp raised its stake in shares of Global Ship Lease by 4.8% in the fourth quarter. State Street Corp now owns 331,619 shares of the shipping company’s stock worth $11,620,000 after purchasing an additional 15,176 shares during the last quarter. 50.08% of the stock is owned by hedge funds and other institutional investors.

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.