State of New Jersey Common Pension Fund D Invests $456,000 in Global Ship Lease, Inc. $GSL

State of New Jersey Common Pension Fund D bought a new stake in Global Ship Lease, Inc. (NYSE:GSL) in the 3rd quarter, Holdings Channel reports. The firm bought 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. CSM Advisors LLC acquired a new stake in Global Ship Lease in the second quarter valued at $11,057,000. Lonestar Capital Management LLC acquired a new stake in Global Ship Lease in the 2nd quarter valued at about $5,262,000. Acadian Asset Management LLC lifted its stake in Global Ship Lease by 7.3% in the 2nd quarter. Acadian Asset Management LLC now owns 1,305,109 shares of the shipping company’s stock valued at $34,314,000 after purchasing an additional 89,258 shares during the last quarter. Lazard Asset Management LLC grew its holdings in Global Ship Lease by 86.7% during the second quarter. Lazard Asset Management LLC now owns 186,631 shares of the shipping company’s stock worth $4,909,000 after purchasing an additional 86,648 shares during the period. Finally, Man Group plc grew its holdings in Global Ship Lease by 30.2% during the second quarter. Man Group plc now owns 268,213 shares of the shipping company’s stock worth $7,057,000 after purchasing an additional 62,149 shares during the period. 50.08% of the stock is owned by institutional investors.

Global Ship Lease Stock Performance

GSL opened at $40.39 on Friday. The business 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 capitalization of $1.44 billion, a PE ratio of 3.63 and a beta of 0.93. Global Ship Lease, Inc. has a 1 year low of $17.73 and a 1 year high of $40.66. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.19 and a quick ratio of 2.14.

Global Ship Lease Announces Dividend

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

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Weiss Ratings restated a “buy (b)” rating on shares of Global Ship Lease in a research note on Thursday, January 22nd. Jefferies Financial Group increased 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 downgraded Global Ship Lease from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 23rd. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $33.50.

Global Ship Lease Company Profile

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.