Foundry Partners LLC Takes $4.03 Million Position in Costamare Inc. (NYSE:CMRE)

Foundry Partners LLC purchased a new stake in Costamare Inc. (NYSE:CMRE) in the third quarter, Holdings Channel reports. The firm purchased 256,503 shares of the shipping company’s stock, valued at approximately $4,032,000.

Other institutional investors have also recently added to or reduced their stakes in the company. nVerses Capital LLC grew its stake in Costamare by 1,700.0% during the 3rd quarter. nVerses Capital LLC now owns 1,800 shares of the shipping company’s stock worth $28,000 after buying an additional 1,700 shares during the last quarter. Gladius Capital Management LP bought a new position in Costamare during the 3rd quarter worth $35,000. CWM LLC grew its stake in Costamare by 53.6% during the 2nd quarter. CWM LLC now owns 4,302 shares of the shipping company’s stock worth $71,000 after buying an additional 1,502 shares during the last quarter. Redwood Wealth Management Group LLC bought a new position in Costamare during the 2nd quarter worth $80,000. Finally, Blue Trust Inc. grew its stake in Costamare by 2,540.4% during the 3rd quarter. Blue Trust Inc. now owns 7,393 shares of the shipping company’s stock worth $121,000 after buying an additional 7,113 shares during the last quarter. 58.08% of the stock is currently owned by institutional investors.

Costamare Trading Down 2.6 %

Shares of CMRE stock opened at $14.06 on Friday. The stock has a 50-day simple moving average of $14.36 and a 200 day simple moving average of $14.59. Costamare Inc. has a fifty-two week low of $9.16 and a fifty-two week high of $17.58. The stock has a market capitalization of $1.65 billion, a P/E ratio of 4.67 and a beta of 1.37. The company has a quick ratio of 1.56, a current ratio of 1.65 and a debt-to-equity ratio of 0.73.

Costamare (NYSE:CMRE) last announced its earnings results on Friday, November 1st. The shipping company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.04. Costamare had a return on equity of 14.28% and a net margin of 19.11%. The business had revenue of $544.64 million during the quarter, compared to analysts’ expectations of $434.13 million. During the same quarter last year, the business posted $0.46 earnings per share. On average, sell-side analysts expect that Costamare Inc. will post 2.83 earnings per share for the current fiscal year.

Costamare Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 6th. Investors of record on Monday, October 21st were given a $0.115 dividend. The ex-dividend date of this dividend was Monday, October 21st. This represents a $0.46 dividend on an annualized basis and a dividend yield of 3.27%. Costamare’s dividend payout ratio (DPR) is 15.28%.

Analyst Upgrades and Downgrades

CMRE has been the subject of several recent analyst reports. Jefferies Financial Group reissued a “hold” rating and issued a $13.00 price target on shares of Costamare in a research note on Friday, November 1st. StockNews.com cut Costamare from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd.

About Costamare