Costamare Inc. (NYSE:CMRE) Shares Sold by Summit X LLC

Summit X LLC cut its position in Costamare Inc. (NYSE:CMRE) by 2.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 141,055 shares of the shipping company’s stock after selling 2,854 shares during the period. Summit X LLC’s holdings in Costamare were worth $1,813,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Gladius Capital Management LP purchased a new stake in Costamare in the third quarter valued at $35,000. Quarry LP raised its position in Costamare by 157.5% in the third quarter. Quarry LP now owns 3,275 shares of the shipping company’s stock valued at $51,000 after purchasing an additional 2,003 shares during the period. Victory Capital Management Inc. purchased a new stake in Costamare in the fourth quarter valued at $130,000. Blue Trust Inc. raised its position in Costamare by 43.5% in the fourth quarter. Blue Trust Inc. now owns 10,606 shares of the shipping company’s stock valued at $136,000 after purchasing an additional 3,213 shares during the period. Finally, US Bancorp DE raised its position in Costamare by 1,385.2% in the third quarter. US Bancorp DE now owns 11,837 shares of the shipping company’s stock valued at $186,000 after purchasing an additional 11,040 shares during the period. Hedge funds and other institutional investors own 58.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Jefferies Financial Group reaffirmed a “hold” rating and issued a $13.00 price objective on shares of Costamare in a research note on Wednesday, February 5th. StockNews.com raised Costamare from a “hold” rating to a “buy” rating in a research note on Thursday, March 6th.

Costamare Trading Down 0.3 %

CMRE opened at $10.13 on Wednesday. Costamare Inc. has a 12 month low of $9.66 and a 12 month high of $17.58. The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of 4.15 and a beta of 1.28. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.65 and a quick ratio of 1.56. The business has a fifty day moving average price of $11.34 and a 200 day moving average price of $12.96.

Costamare (NYSE:CMRE) last released its earnings results on Wednesday, February 5th. The shipping company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.66 by $0.03. Costamare had a return on equity of 14.03% and a net margin of 15.14%. Sell-side analysts expect that Costamare Inc. will post 2.52 earnings per share for the current fiscal year.

Costamare Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 6th. Stockholders of record on Tuesday, January 21st were given a dividend of $0.115 per share. The ex-dividend date was Tuesday, January 21st. This represents a $0.46 annualized dividend and a dividend yield of 4.54%. Costamare’s dividend payout ratio is currently 18.85%.

Costamare Company Profile