Costamare Inc. $CMRE Shares Acquired by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in Costamare Inc. (NYSE:CMRE) by 21.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 47,914 shares of the shipping company’s stock after buying an additional 8,409 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Costamare were worth $436,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the business. Unison Advisors LLC raised its holdings in Costamare by 1.3% during the second quarter. Unison Advisors LLC now owns 85,876 shares of the shipping company’s stock worth $782,000 after purchasing an additional 1,099 shares in the last quarter. Dynamic Technology Lab Private Ltd boosted its position in Costamare by 13.5% during the first quarter. Dynamic Technology Lab Private Ltd now owns 19,064 shares of the shipping company’s stock worth $188,000 after purchasing an additional 2,267 shares in the last quarter. Quarry LP grew its holdings in Costamare by 21,575.0% in the first quarter. Quarry LP now owns 3,468 shares of the shipping company’s stock valued at $34,000 after purchasing an additional 3,452 shares during the last quarter. New Age Alpha Advisors LLC increased its position in shares of Costamare by 89.4% in the first quarter. New Age Alpha Advisors LLC now owns 7,393 shares of the shipping company’s stock valued at $73,000 after buying an additional 3,489 shares in the last quarter. Finally, Freedom Investment Management Inc. raised its stake in shares of Costamare by 28.8% during the 1st quarter. Freedom Investment Management Inc. now owns 44,662 shares of the shipping company’s stock worth $439,000 after buying an additional 9,985 shares during the last quarter. Institutional investors and hedge funds own 58.08% of the company’s stock.

Analyst Ratings Changes

CMRE has been the subject of several research reports. Jefferies Financial Group lifted their price objective on Costamare from $11.00 to $12.00 and gave the stock a “hold” rating in a research report on Tuesday, November 4th. Zacks Research downgraded Costamare from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 21st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Costamare in a research note on Wednesday, October 8th. Finally, Wall Street Zen raised shares of Costamare from a “hold” rating to a “buy” rating in a research note on Saturday, November 22nd. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $12.00.

Costamare Stock Performance

Shares of CMRE opened at $15.26 on Thursday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.68 and a quick ratio of 1.64. Costamare Inc. has a 12-month low of $6.63 and a 12-month high of $15.44. The business’s fifty day moving average price is $12.69 and its 200 day moving average price is $10.93. The stock has a market capitalization of $1.83 billion, a PE ratio of 6.46 and a beta of 1.38.

Costamare (NYSE:CMRE) last released its quarterly earnings results on Tuesday, November 4th. The shipping company reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.11. The company had revenue of $219.13 million during the quarter, compared to analysts’ expectations of $197.92 million. Costamare had a return on equity of 13.67% and a net margin of 17.10%. Equities research analysts forecast that Costamare Inc. will post 2.52 EPS for the current year.

Costamare Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 6th. Investors of record on Tuesday, October 21st were paid a $0.115 dividend. The ex-dividend date of this dividend was Tuesday, October 21st. This represents a $0.46 annualized dividend and a dividend yield of 3.0%. Costamare’s payout ratio is presently 18.40%.

Costamare Company Profile