Costamare Inc. (NYSE:CMRE) Shares Bought by SummerHaven Investment Management LLC

SummerHaven Investment Management LLC lifted its holdings in shares of Costamare Inc. (NYSE:CMRE) by 1.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 72,729 shares of the shipping company’s stock after acquiring an additional 1,083 shares during the quarter. SummerHaven Investment Management LLC owned about 0.06% of Costamare worth $757,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Ballentine Partners LLC acquired a new position in shares of Costamare during the fourth quarter worth about $114,000. Raymond James & Associates purchased a new stake in shares of Costamare during the 4th quarter valued at about $135,000. Dark Forest Capital Management LP acquired a new position in Costamare during the 3rd quarter worth approximately $141,000. Quadrature Capital Ltd purchased a new position in Costamare in the 3rd quarter worth approximately $223,000. Finally, Allspring Global Investments Holdings LLC grew its position in Costamare by 63.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 39,037 shares of the shipping company’s stock valued at $406,000 after acquiring an additional 15,099 shares in the last quarter. Institutional investors and hedge funds own 58.08% of the company’s stock.

Costamare Trading Up 1.1 %

Shares of CMRE opened at $11.91 on Tuesday. Costamare Inc. has a one year low of $7.71 and a one year high of $11.97. The stock has a 50-day moving average price of $11.28 and a 200 day moving average price of $10.51. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.59 and a current ratio of 1.69. The company has a market capitalization of $1.40 billion, a P/E ratio of 4.04 and a beta of 1.38.

Costamare (NYSE:CMRE) last announced its earnings results on Wednesday, February 7th. The shipping company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.06. Costamare had a return on equity of 11.37% and a net margin of 25.26%. The company had revenue of $494.85 million for the quarter, compared to analyst estimates of $419.00 million. During the same period in the prior year, the company posted $0.61 EPS. Sell-side analysts forecast that Costamare Inc. will post 2.73 EPS for the current fiscal year.

Costamare Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 6th. Shareholders of record on Friday, April 19th will be paid a dividend of $0.115 per share. The ex-dividend date is Thursday, April 18th. This represents a $0.46 dividend on an annualized basis and a yield of 3.86%. Costamare’s dividend payout ratio (DPR) is 15.59%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CMRE. Stifel Nicolaus boosted their target price on shares of Costamare from $11.50 to $12.00 and gave the stock a “hold” rating in a research report on Friday, April 19th. StockNews.com downgraded shares of Costamare from a “buy” rating to a “hold” rating in a research note on Wednesday, April 24th.

About Costamare