On Wednesday, shares of Global Ship Lease, Inc.’s 8.75% Series B Cumulative Redeemable Perpetual Preferred Shares (GSL.PRB) yielded over 8%, trading as low as $27.02, according to trading data. This yield surpasses the average of 7.79% for the “Transportation” preferred stock category. As of the last close, GSL.PRB was valued at a 9.64% premium to its liquidation preference, higher than the average premium of 7.23% in the same category.
The shares are up approximately 0.8% on the day, while the common shares (GSL) decreased by about 1%.
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