TIAA CREF Investment Management LLC cut its stake in Costamare Inc. (NYSE:CMRE) by 1.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 236,036 shares of the shipping company’s stock after selling 3,004 shares during the period. TIAA CREF Investment Management LLC’s holdings in Costamare were worth $1,572,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Renaissance Technologies LLC bought a new stake in shares of Costamare during the fourth quarter worth $822,000. State Street Corp raised its stake in shares of Costamare by 0.8% in the fourth quarter. State Street Corp now owns 431,593 shares of the shipping company’s stock worth $2,417,000 after buying an additional 3,614 shares during the last quarter. Teachers Advisors LLC raised its stake in shares of Costamare by 1.4% in the fourth quarter. Teachers Advisors LLC now owns 285,279 shares of the shipping company’s stock worth $1,598,000 after buying an additional 3,875 shares during the last quarter. Brandes Investment Partners LP bought a new stake in shares of Costamare during the first quarter worth $147,000. Finally, Canada Pension Plan Investment Board raised its stake in shares of Costamare by 1,730.8% in the first quarter. Canada Pension Plan Investment Board now owns 47,600 shares of the shipping company’s stock worth $317,000 after buying an additional 45,000 shares during the last quarter. Hedge funds and other institutional investors own 19.24% of the company’s stock.

Shares of Costamare Inc. (NYSE CMRE) traded down 0.95% on Friday, hitting $6.23. 272,789 shares of the stock were exchanged. The company’s 50 day moving average is $6.85 and its 200-day moving average is $6.64. The stock has a market cap of $660.32 million, a PE ratio of 15.54 and a beta of 2.21. Costamare Inc. has a 52-week low of $5.07 and a 52-week high of $9.54.

Costamare (NYSE:CMRE) last issued its earnings results on Tuesday, July 25th. The shipping company reported $0.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.01. The firm had revenue of $104.10 million for the quarter, compared to analysts’ expectations of $104.23 million. Costamare had a net margin of 12.70% and a return on equity of 8.94%. The firm’s revenue was down 12.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.44 earnings per share. Analysts predict that Costamare Inc. will post $0.82 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, August 7th. Investors of record on Monday, July 24th were issued a $0.10 dividend. The ex-dividend date of this dividend was Thursday, July 20th. This represents a $0.40 annualized dividend and a yield of 6.36%. Costamare’s dividend payout ratio (DPR) is 105.27%.

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A number of equities research analysts recently weighed in on CMRE shares. ValuEngine lowered shares of Costamare from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Credit Suisse Group upgraded shares of Costamare from an “underperform” rating to a “neutral” rating and set a $8.00 price target for the company in a report on Monday, May 1st. Zacks Investment Research lowered shares of Costamare from a “hold” rating to a “strong sell” rating in a report on Monday, July 3rd. BidaskClub upgraded shares of Costamare from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Finally, TheStreet upgraded shares of Costamare from a “d+” rating to a “c” rating in a report on Friday, April 28th. Two analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $8.50.

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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Institutional Ownership by Quarter for Costamare (NYSE:CMRE)

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