Dimensional Fund Advisors LP Increases Holdings in Costamare Inc. (NYSE:CMRE)

Dimensional Fund Advisors LP grew its holdings in shares of Costamare Inc. (NYSE:CMRE – Get Rating) by 1.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,340,726 shares of the shipping company’s stock after buying an additional 129,643 shares during the quarter. Dimensional Fund Advisors LP owned 6.04% of Costamare worth $68,121,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. SummerHaven Investment Management LLC raised its position in Costamare by 1.6% in the 4th quarter. SummerHaven Investment Management LLC now owns 72,392 shares of the shipping company’s stock worth $672,000 after purchasing an additional 1,162 shares during the period. UBS Group AG raised its position in Costamare by 7.7% in the 4th quarter. UBS Group AG now owns 21,080 shares of the shipping company’s stock worth $196,000 after purchasing an additional 1,509 shares during the period. Avantax Advisory Services Inc. raised its position in Costamare by 12.2% in the 3rd quarter. Avantax Advisory Services Inc. now owns 15,930 shares of the shipping company’s stock worth $143,000 after purchasing an additional 1,730 shares during the period. Cambridge Investment Research Advisors Inc. raised its position in Costamare by 18.8% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 11,904 shares of the shipping company’s stock worth $203,000 after purchasing an additional 1,883 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its position in Costamare by 11.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 23,900 shares of the shipping company’s stock worth $222,000 after purchasing an additional 2,500 shares during the period. 48.80% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on CMRE shares. StockNews.com started coverage on shares of Costamare in a research note on Thursday, May 18th. They issued a “hold” rating for the company. Jefferies Financial Group downgraded shares of Costamare from a “buy” rating to a “hold” rating and lowered their target price for the company from $15.00 to $10.00 in a research note on Monday, April 24th.

Costamare Trading Down 3.1 %

NYSE CMRE opened at $8.15 on Friday. The company has a fifty day simple moving average of $9.02 and a two-hundred day simple moving average of $9.48. The stock has a market cap of $996.75 million, a P/E ratio of 1.81 and a beta of 1.38. Costamare Inc. has a 12-month low of $7.93 and a 12-month high of $14.85. The company has a current ratio of 2.17, a quick ratio of 2.09 and a debt-to-equity ratio of 0.95.

Costamare Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 5th. Shareholders of record on Wednesday, April 19th were issued a $0.115 dividend. The ex-dividend date of this dividend was Tuesday, April 18th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 5.64%. Costamare’s dividend payout ratio is currently 10.22%.

About Costamare

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Costamare, Inc is a holding company, which engages in the provision of containerships chartering. It operates through the following segments: Container Vessels, Dry Bulk Vessels, CBI, and Other. The Container Vessels segment consists of transportation of containerized products through ownership and trading of container vessels.