HighTower Advisors LLC raised its position in shares of Costamare Inc. (NYSE:CMRE) by 14.1% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 31,686 shares of the shipping company’s stock after buying an additional 3,910 shares during the period. HighTower Advisors LLC’s holdings in Costamare were worth $211,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Tudor Investment Corp ET AL bought a new stake in Costamare during the first quarter valued at about $334,000. Edmond DE Rothschild Holding S.A. raised its position in Costamare by 11.5% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 41,600 shares of the shipping company’s stock valued at $277,000 after buying an additional 4,300 shares during the last quarter. Morgan Stanley raised its position in Costamare by 13.8% in the first quarter. Morgan Stanley now owns 1,956,634 shares of the shipping company’s stock valued at $13,032,000 after buying an additional 236,786 shares during the last quarter. Geode Capital Management LLC raised its position in Costamare by 111.7% in the first quarter. Geode Capital Management LLC now owns 401,120 shares of the shipping company’s stock valued at $2,670,000 after buying an additional 211,686 shares during the last quarter. Finally, Global X Management Co. LLC purchased a new stake in Costamare during the first quarter worth about $9,482,000. 19.64% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Costamare Inc. (CMRE) traded up 1.45% during trading on Friday, hitting $6.29. 581,689 shares of the stock traded hands. Costamare Inc. has a 52 week low of $5.07 and a 52 week high of $9.54. The company has a market cap of $666.68 million, a price-to-earnings ratio of 15.69 and a beta of 2.21. The firm’s 50-day moving average price is $6.75 and its 200-day moving average price is $6.65.
Costamare (NYSE:CMRE) last announced its quarterly earnings results on Tuesday, July 25th. The shipping company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01. The firm had revenue of $104.10 million for the quarter, compared to analysts’ expectations of $104.23 million. Costamare had a return on equity of 8.94% and a net margin of 12.70%. The business’s revenue was down 12.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.44 earnings per share. On average, equities research analysts anticipate that Costamare Inc. will post $0.82 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, August 7th. Investors of record on Monday, July 24th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 6.36%. The ex-dividend date was Thursday, July 20th. Costamare’s dividend payout ratio is 105.27%.
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CMRE has been the subject of a number of research analyst reports. ValuEngine lowered shares of Costamare from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Credit Suisse Group raised shares of Costamare from an “underperform” rating to a “neutral” rating and set a $8.00 price objective for the company in a report on Monday, May 1st. Zacks Investment Research downgraded shares of Costamare from a “hold” rating to a “strong sell” rating in a report on Monday, July 3rd. BidaskClub raised shares of Costamare from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Finally, TheStreet raised shares of Costamare from a “d+” rating to a “c” rating in a report on Friday, April 28th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $8.50.
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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