Globeflex Capital L P Grows Position in COSTAMARE Inc/SH (CMRE)
Globeflex Capital L P increased its holdings in shares of COSTAMARE Inc/SH (NYSE:CMRE) by 34.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 459,709 shares of the shipping company’s stock after acquiring an additional 118,020 shares during the quarter. COSTAMARE Inc/SH makes up approximately 0.6% of Globeflex Capital L P’s holdings, making the stock its 25th biggest holding. Globeflex Capital L P owned 0.42% of COSTAMARE Inc/SH worth $2,984,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its stake in COSTAMARE Inc/SH by 6.0% during the second quarter. Dimensional Fund Advisors LP now owns 3,299,750 shares of the shipping company’s stock worth $26,332,000 after acquiring an additional 185,475 shares during the period. BlackRock Inc. raised its stake in COSTAMARE Inc/SH by 2.1% during the second quarter. BlackRock Inc. now owns 2,495,173 shares of the shipping company’s stock worth $19,911,000 after acquiring an additional 51,450 shares during the period. Renaissance Technologies LLC raised its stake in COSTAMARE Inc/SH by 75.8% during the second quarter. Renaissance Technologies LLC now owns 1,437,400 shares of the shipping company’s stock worth $11,470,000 after acquiring an additional 619,700 shares during the period. Northpointe Capital LLC acquired a new stake in COSTAMARE Inc/SH during the second quarter worth about $9,548,000. Finally, Fuller & Thaler Asset Management Inc. raised its stake in COSTAMARE Inc/SH by 24.8% during the second quarter. Fuller & Thaler Asset Management Inc. now owns 1,093,178 shares of the shipping company’s stock worth $8,724,000 after acquiring an additional 217,278 shares during the period. Hedge funds and other institutional investors own 27.28% of the company’s stock.
Several research analysts have commented on the stock. Morgan Stanley set a $8.00 target price on shares of COSTAMARE Inc/SH and gave the stock a “buy” rating in a research report on Saturday, October 27th. Zacks Investment Research cut shares of COSTAMARE Inc/SH from a “hold” rating to a “sell” rating in a research report on Monday, October 1st. Wells Fargo & Co cut shares of COSTAMARE Inc/SH from an “outperform” rating to a “market perform” rating and set a $7.00 target price for the company. in a research report on Friday, September 28th. Finally, ValuEngine cut shares of COSTAMARE Inc/SH from a “buy” rating to a “hold” rating in a research report on Tuesday, September 4th.
COSTAMARE Inc/SH (NYSE:CMRE) last released its earnings results on Wednesday, October 24th. The shipping company reported $0.09 EPS for the quarter, meeting the consensus estimate of $0.09. COSTAMARE Inc/SH had a net margin of 13.39% and a return on equity of 4.85%. The business had revenue of $89.45 million during the quarter, compared to analyst estimates of $93.98 million. During the same period in the prior year, the business earned $0.16 earnings per share. The business’s quarterly revenue was down 9.1% on a year-over-year basis. Equities analysts predict that COSTAMARE Inc/SH will post 0.42 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, November 8th. Investors of record on Tuesday, October 23rd were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 7.87%. The ex-dividend date of this dividend was Monday, October 22nd. COSTAMARE Inc/SH’s dividend payout ratio is presently 51.95%.
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About COSTAMARE Inc/SH
Costamare Inc owns and charters containerships to liner companies worldwide. As of February 23, 2018, it had a fleet of 71 containerships with a total capacity of approximately 466,000 twenty foot equivalent unit (TEU), including 64 vessels in the water, aggregating approximately 462,000 TEU; and 1 new build vessel of 3,800 TEU.
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