Costamare Inc. (NYSE:CMRE) Position Boosted by Global X Management Co. LLC

Global X Management Co. LLC raised its stake in shares of Costamare Inc. (NYSE:CMRE) by 4.8% during the second quarter, Holdings Channel reports. The fund owned 1,491,375 shares of the shipping company’s stock after buying an additional 67,642 shares during the period. Global X Management Co. LLC’s holdings in Costamare were worth $10,902,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of CMRE. Barnett & Company Inc. raised its position in shares of Costamare by 22.8% in the first quarter. Barnett & Company Inc. now owns 54,300 shares of the shipping company’s stock valued at $362,000 after buying an additional 10,075 shares during the last quarter. Parametric Portfolio Associates LLC raised its position in shares of Costamare by 16.3% in the first quarter. Parametric Portfolio Associates LLC now owns 808,691 shares of the shipping company’s stock valued at $5,386,000 after buying an additional 113,445 shares during the last quarter. Sei Investments Co. acquired a new position in shares of Costamare during the first quarter valued at about $137,000. Bank of New York Mellon Corp raised its stake in shares of Costamare by 33.4% in the first quarter. Bank of New York Mellon Corp now owns 93,261 shares of the shipping company’s stock worth $622,000 after buying an additional 23,348 shares in the last quarter. 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 in the last quarter. Institutional investors own 19.24% of the company’s stock.

Shares of Costamare Inc. (CMRE) opened at 6.48 on Thursday. The company has a market cap of $626.19 million, a price-to-earnings ratio of 16.16 and a beta of 2.21. Costamare Inc. has a 12 month low of $5.07 and a 12 month high of $9.54. The company’s 50-day moving average price is $6.85 and its 200-day moving average price is $6.64.

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

The company also recently announced a quarterly dividend, which was paid on Monday, August 7th. Investors of record on Monday, July 24th were paid a $0.10 dividend. The ex-dividend date was Thursday, July 20th. This represents a $0.40 dividend on an annualized basis and a yield of 6.17%. Costamare’s dividend payout ratio is presently 105.27%.

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A number of equities research analysts recently weighed in on CMRE shares. Zacks Investment Research upgraded Costamare from a “sell” rating to a “hold” rating in a research report on Friday, April 14th. Credit Suisse Group upgraded Costamare from an “underperform” rating to a “neutral” rating and set a $8.00 price objective on the stock in a research report on Monday, May 1st. TheStreet upgraded Costamare from a “d+” rating to a “c” rating in a research report on Friday, April 28th. Stifel Nicolaus set a $7.00 price objective on Costamare and gave the stock a “hold” rating in a research report on Sunday, May 28th. Finally, ValuEngine lowered Costamare from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $8.50.

About Costamare

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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