Blue Trust Inc. Decreases Position in Costamare Inc. $CMRE

Blue Trust Inc. cut its stake in shares of Costamare Inc. (NYSE:CMRE) by 39.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,553 shares of the shipping company’s stock after selling 4,225 shares during the quarter. Blue Trust Inc.’s holdings in Costamare were worth $60,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Nuveen LLC purchased a new stake in shares of Costamare during the first quarter worth about $99,482,000. Kingstone Capital Partners Texas LLC purchased a new stake in Costamare in the 2nd quarter worth approximately $26,767,000. Millennium Management LLC bought a new stake in shares of Costamare in the 1st quarter worth approximately $6,075,000. Goldman Sachs Group Inc. increased its stake in shares of Costamare by 42.2% during the first quarter. Goldman Sachs Group Inc. now owns 479,822 shares of the shipping company’s stock valued at $4,721,000 after buying an additional 142,372 shares during the period. Finally, Jane Street Group LLC raised its holdings in shares of Costamare by 156.9% during the first quarter. Jane Street Group LLC now owns 200,984 shares of the shipping company’s stock valued at $1,978,000 after acquiring an additional 122,737 shares in the last quarter. 58.08% of the stock is currently owned by institutional investors.

Costamare Stock Performance

Shares of CMRE opened at $11.59 on Friday. The company has a quick ratio of 1.64, a current ratio of 1.68 and a debt-to-equity ratio of 0.65. The stock has a market cap of $1.39 billion, a P/E ratio of 4.91 and a beta of 1.38. The business’s 50 day moving average price is $11.77 and its 200-day moving average price is $10.04. Costamare Inc. has a 52 week low of $6.63 and a 52 week high of $14.85.

Costamare (NYSE:CMRE) last announced its quarterly earnings results on Thursday, July 31st. The shipping company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.29. The company had revenue of $211.20 million for the quarter, compared to analysts’ expectations of $209.72 million. Costamare had a net margin of 17.10% and a return on equity of 13.67%. During the same quarter in the previous year, the business posted $0.76 EPS. Equities research analysts anticipate that Costamare Inc. will post 2.52 earnings per share for the current fiscal year.

Costamare Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 6th. Stockholders of record on Tuesday, October 21st will be issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend is Tuesday, October 21st. Costamare’s dividend payout ratio is presently 19.49%.

Analyst Ratings Changes

CMRE has been the topic of a number of research analyst reports. Zacks Research raised shares of Costamare from a “strong sell” rating to a “strong-buy” rating in a research report on Monday, September 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Costamare in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Costamare presently has an average rating of “Moderate Buy” and an average target price of $13.00.

Costamare Company Profile