Teachers Advisors LLC reduced its stake in shares of Costamare Inc (NYSE:CMRE) by 15.1% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 242,113 shares of the shipping company’s stock after selling 43,166 shares during the period. Teachers Advisors LLC owned approximately 0.27% of Costamare worth $1,612,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of CMRE. State Street Corp boosted its position in Costamare by 0.8% in the fourth quarter. State Street Corp now owns 431,593 shares of the shipping company’s stock valued at $2,417,000 after buying an additional 3,614 shares in the last quarter. Renaissance Technologies LLC bought a new position in Costamare during the fourth quarter valued at about $822,000. Fox Run Management L.L.C. bought a new position in Costamare during the first quarter valued at about $139,000. Nationwide Fund Advisors boosted its position in Costamare by 4.0% in the first quarter. Nationwide Fund Advisors now owns 84,031 shares of the shipping company’s stock valued at $560,000 after buying an additional 3,211 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its position in Costamare by 359.7% in the first quarter. Acadian Asset Management LLC now owns 304,201 shares of the shipping company’s stock valued at $2,026,000 after buying an additional 238,029 shares in the last quarter. 19.64% of the stock is currently owned by institutional investors.
Shares of Costamare Inc (CMRE) traded up 0.858% during mid-day trading on Thursday, reaching $6.465. 329,881 shares of the company’s stock traded hands. The company’s 50 day moving average is $6.67 and its 200-day moving average is $6.68. Costamare Inc has a 52 week low of $5.07 and a 52 week high of $9.54. The firm has a market cap of $685.23 million, a price-to-earnings ratio of 16.122 and a beta of 2.21.
Costamare (NYSE:CMRE) last issued its earnings results on Tuesday, July 25th. The shipping company reported $0.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.01. The business had revenue of $104.10 million for the quarter, compared to analyst estimates of $104.23 million. Costamare had a net margin of 21.95% and a return on equity of 6.19%. Costamare’s revenue was down 12.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.44 earnings per share. Equities analysts expect that Costamare Inc will post $0.82 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, August 7th. Investors of record on Monday, July 24th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 6.24%. The ex-dividend date was Thursday, July 20th. Costamare’s dividend payout ratio is presently 105.27%.
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CMRE has been the topic of several research reports. Zacks Investment Research raised Costamare from a “sell” rating to a “hold” rating in a report on Thursday, April 27th. Credit Suisse Group raised Costamare from an “underperform” rating to a “neutral” rating and set a $8.00 price target on the stock in a report on Monday, May 1st. TheStreet raised Costamare from a “d+” rating to a “c” rating in a report on Friday, April 28th. Stifel Nicolaus set a $7.00 price target on Costamare and gave the company a “hold” rating in a report on Sunday, May 28th. Finally, ValuEngine cut Costamare from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. Costamare has a consensus rating of “Hold” and a consensus price target of $8.50.
About Costamare
Costamare Inc (Costamare) is a holding company. The Company is an international owner of containerships. The Company is engaged in chartering its vessels to various liner companies. The Company provides marine transportation services around the world by chartering its container vessels to liner operators under long, medium and short-term time charters.
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