5 Best Shipping and Container Stocks to Buy Now

2. Global Ship Lease, Inc. (NYSE:GSL)

Number of Hedge Fund Holders: 20

London-based, Global Ship Lease, Inc. (NYSE:GSL) is a leading independent owner of containerships with a diversified fleet of mid-sized and smaller containerships. The company owns 65 containerships, ranging from 1,118 to 11,040 TEU, including 32 ships that are wide beam post-Panamax.

As of October 17, Global Ship Lease, Inc. (NYSE:GSL) shares are down 24.44% year-to-date. Following the drop in its share price, its shares had a dividend yield of 8.67%, as of the same date. Based on the low payout ratio of 16%, the company has the potential to continue dividend payments despite the economic downturn in the medium term.

Global Ship Lease, Inc. (NYSE:GSL) also benefits from its operating model which provides it resilience against changes in shipping rates. The company does not handle the point-to-point logistics for its vessels and instead leases these ships out to global liner companies which isolate it from the volatility in freight rates.

As of Q2 2022, 20 of the 895 hedge funds tracked by Insider Monkey were long Global Ship Lease, Inc. (NYSE:GSL), holding shares worth $111 million. Israel Englander’s Millennium Management was the largest shareholder with ownership of 1.3 million shares valued at $22 million.