BlackRock Inc. increased its holdings in Costamare (NYSE:CMRE) by 7.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,478,286 shares of the shipping company’s stock after buying an additional 168,122 shares during the period. BlackRock Inc.’s holdings in Costamare were worth $14,300,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of CMRE. Dimensional Fund Advisors LP boosted its stake in Costamare by 83.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,598,487 shares of the shipping company’s stock valued at $9,879,000 after purchasing an additional 729,015 shares during the period. Schroder Investment Management Group boosted its stake in Costamare by 1,202.0% during the 4th quarter. Schroder Investment Management Group now owns 531,200 shares of the shipping company’s stock valued at $3,065,000 after purchasing an additional 490,400 shares during the period. Algert Global LLC boosted its stake in Costamare by 7.1% during the 4th quarter. Algert Global LLC now owns 403,971 shares of the shipping company’s stock valued at $2,331,000 after purchasing an additional 26,605 shares during the period. Wells Fargo & Company MN boosted its stake in Costamare by 61.2% during the 3rd quarter. Wells Fargo & Company MN now owns 297,867 shares of the shipping company’s stock valued at $1,840,000 after purchasing an additional 113,059 shares during the period. Finally, Gilder Gagnon Howe & Co. LLC acquired a new position in Costamare during the 4th quarter valued at about $1,715,000. 23.58% of the stock is owned by institutional investors and hedge funds.
A number of research firms have issued reports on CMRE. ValuEngine raised shares of Costamare from a “hold” rating to a “buy” rating in a research note on Friday, April 13th. Zacks Investment Research lowered shares of Costamare from a “buy” rating to a “hold” rating in a research note on Tuesday, January 2nd. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $6.83.
Costamare stock opened at $7.01 on Friday. The company has a quick ratio of 0.78, a current ratio of 0.82 and a debt-to-equity ratio of 0.81. The stock has a market cap of $744.71, a price-to-earnings ratio of 9.10 and a beta of 1.99. Costamare has a 52-week low of $5.45 and a 52-week high of $8.18.
Costamare (NYSE:CMRE) last released its quarterly earnings results on Tuesday, January 23rd. The shipping company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.02. Costamare had a net margin of 17.67% and a return on equity of 7.28%. The company had revenue of $99.20 million for the quarter, compared to the consensus estimate of $97.52 million. During the same period in the previous year, the firm earned $0.28 EPS. Costamare’s revenue was down 8.9% on a year-over-year basis. equities analysts forecast that Costamare will post 0.69 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 8th. Shareholders of record on Friday, April 20th will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, April 19th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 5.71%. Costamare’s dividend payout ratio (DPR) is 51.95%.
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Costamare Inc owns and charters containerships to liner companies worldwide. As of February 23, 2018, it had a fleet of 71 containerships with a total capacity of approximately 466,000 twenty foot equivalent unit (TEU), including 64 vessels in the water, aggregating approximately 462,000 TEU; and 1 new build vessel of 3,800 TEU.
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