Squarepoint Ops LLC Makes New Investment in Costamare Inc. (NYSE:CMRE)

Squarepoint Ops LLC purchased a new stake in Costamare Inc. (NYSE:CMRE) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 39,919 shares of the shipping company’s stock, valued at approximately $513,000.

A number of other institutional investors also recently modified their holdings of the company. Principal Financial Group Inc. increased its stake in Costamare by 10.9% in the 4th quarter. Principal Financial Group Inc. now owns 65,638 shares of the shipping company’s stock valued at $843,000 after buying an additional 6,461 shares during the last quarter. American Century Companies Inc. increased its position in shares of Costamare by 18.8% in the fourth quarter. American Century Companies Inc. now owns 1,077,400 shares of the shipping company’s stock valued at $13,845,000 after acquiring an additional 170,412 shares during the last quarter. New York State Common Retirement Fund increased its position in shares of Costamare by 4.2% in the fourth quarter. New York State Common Retirement Fund now owns 223,565 shares of the shipping company’s stock valued at $2,873,000 after acquiring an additional 9,100 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Costamare by 33.3% during the fourth quarter. JPMorgan Chase & Co. now owns 452,504 shares of the shipping company’s stock worth $5,815,000 after acquiring an additional 112,938 shares in the last quarter. Finally, Federated Hermes Inc. boosted its position in Costamare by 10.6% during the fourth quarter. Federated Hermes Inc. now owns 817,359 shares of the shipping company’s stock valued at $10,503,000 after purchasing an additional 78,377 shares during the last quarter. 58.08% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CMRE has been the topic of a number of analyst reports. Wall Street Zen initiated coverage on Costamare in a research note on Thursday, May 15th. They set a “hold” rating on the stock. Jefferies Financial Group reaffirmed a “hold” rating and set a $13.00 price target on shares of Costamare in a research report on Wednesday, February 5th.

Costamare Trading Up 1.1%

Costamare stock opened at $8.65 on Thursday. The stock has a 50-day simple moving average of $8.82 and a 200 day simple moving average of $10.79. The stock has a market capitalization of $1.04 billion, a P/E ratio of 3.55 and a beta of 1.13. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.56 and a current ratio of 1.65. Costamare Inc. has a 52 week low of $6.63 and a 52 week high of $17.58.

Costamare (NYSE:CMRE) last issued its earnings results on Thursday, May 8th. The shipping company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.52 by $0.09. Costamare had a return on equity of 14.03% and a net margin of 15.14%. The company had revenue of $440.54 million during the quarter, compared to the consensus estimate of $330.14 million. Analysts expect that Costamare Inc. will post 2.52 earnings per share for the current year.

Costamare Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 6th. Shareholders of record on Thursday, April 17th were given a dividend of $0.115 per share. The ex-dividend date of this dividend was Thursday, April 17th. This represents a $0.46 dividend on an annualized basis and a yield of 5.32%. Costamare’s dividend payout ratio (DPR) is 18.85%.

Costamare Company Profile