Dimensional Fund Advisors LP Takes Position in Costamare Inc. (CMRE)
Dimensional Fund Advisors LP bought a new position in Costamare Inc. (NYSE:CMRE) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 869,472 shares of the shipping company’s stock, valued at approximately $6,356,000. Dimensional Fund Advisors LP owned 0.90% of Costamare as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of the company. Virtu KCG Holdings LLC boosted its position in shares of Costamare by 635.6% in the second quarter. Virtu KCG Holdings LLC now owns 127,502 shares of the shipping company’s stock worth $932,000 after buying an additional 110,168 shares during the period. Vanguard Group Inc. boosted its position in shares of Costamare by 19.8% in the second quarter. Vanguard Group Inc. now owns 73,736 shares of the shipping company’s stock worth $539,000 after buying an additional 12,165 shares during the period. Northern Trust Corp boosted its position in shares of Costamare by 14.3% in the second quarter. Northern Trust Corp now owns 318,943 shares of the shipping company’s stock worth $2,332,000 after buying an additional 39,949 shares during the period. Penn Capital Management Co. Inc. acquired a new stake in shares of Costamare in the second quarter worth $125,000. Finally, Citigroup Inc. boosted its position in shares of Costamare by 224.1% in the second quarter. Citigroup Inc. now owns 61,021 shares of the shipping company’s stock worth $446,000 after buying an additional 42,192 shares during the period. 27.54% of the stock is owned by institutional investors and hedge funds.
CMRE has been the subject of a number of research reports. Zacks Investment Research raised Costamare from a “sell” rating to a “hold” rating in a research report on Tuesday, September 5th. Stifel Nicolaus reissued a “hold” rating and set a $7.00 price objective on shares of Costamare in a research report on Thursday, October 12th. ValuEngine cut Costamare from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 15th. BidaskClub cut Costamare from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Finally, Credit Suisse Group set a $7.00 price objective on Costamare and gave the company a “hold” rating in a research report on Wednesday, October 25th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $7.04.
Shares of Costamare Inc. (CMRE) opened at $5.78 on Tuesday. The stock has a market capitalization of $604.75, a price-to-earnings ratio of 6.42, a P/E/G ratio of 1.49 and a beta of 2.14. Costamare Inc. has a 12-month low of $5.07 and a 12-month high of $8.18. The company has a current ratio of 0.96, a quick ratio of 0.92 and a debt-to-equity ratio of 0.87.
Costamare (NYSE:CMRE) last released its quarterly earnings data on Tuesday, October 24th. The shipping company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.01. Costamare had a return on equity of 7.57% and a net margin of 14.03%. The firm had revenue of $98.40 million during the quarter, compared to analysts’ expectations of $100.24 million. During the same quarter last year, the firm earned $0.37 earnings per share. The business’s revenue for the quarter was down 14.7% on a year-over-year basis. equities analysts forecast that Costamare Inc. will post 0.76 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, November 6th. Shareholders of record on Monday, October 23rd were issued a dividend of $0.10 per share. The ex-dividend date was Friday, October 20th. This represents a $0.40 annualized dividend and a yield of 6.92%. Costamare’s dividend payout ratio (DPR) is currently 111.11%.
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Costamare Company Profile
Costamare Inc (Costamare) is a holding company. The Company is an international owner of containerships. The Company is engaged in chartering its vessels to various liner companies. The Company provides marine transportation services around the world by chartering its container vessels to liner operators under long, medium and short-term time charters.
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