Public Employees Retirement System of Ohio Acquires New Holdings in Costamare Inc. (NYSE:CMRE)

Public Employees Retirement System of Ohio bought a new position in shares of Costamare Inc. (NYSE:CMRE) in the third quarter, HoldingsChannel.com reports. The firm bought 13,570 shares of the shipping company’s stock, valued at approximately $213,000.

Several other hedge funds and other institutional investors have also bought and sold shares of CMRE. Oppenheimer & Co. Inc. bought a new position in shares of Costamare in the 3rd quarter worth $886,000. Foundry Partners LLC purchased a new position in Costamare in the third quarter valued at about $4,032,000. Federated Hermes Inc. raised its holdings in Costamare by 25,731.0% in the second quarter. Federated Hermes Inc. now owns 401,414 shares of the shipping company’s stock worth $6,595,000 after purchasing an additional 399,860 shares in the last quarter. Acadian Asset Management LLC lifted its position in shares of Costamare by 1,322.0% during the second quarter. Acadian Asset Management LLC now owns 1,469,697 shares of the shipping company’s stock valued at $24,119,000 after buying an additional 1,366,344 shares during the last quarter. Finally, Creative Planning boosted its holdings in shares of Costamare by 5.2% in the 2nd quarter. Creative Planning now owns 55,067 shares of the shipping company’s stock valued at $905,000 after buying an additional 2,703 shares in the last quarter. Institutional investors own 58.08% of the company’s stock.

Wall Street Analyst Weigh In

CMRE has been the subject of several recent analyst reports. Jefferies Financial Group reiterated a “hold” rating and set a $13.00 price objective on shares of Costamare in a research note on Friday, November 1st. StockNews.com lowered Costamare from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd.

Costamare Stock Performance

Shares of Costamare stock opened at $12.39 on Friday. The firm has a market capitalization of $1.46 billion, a P/E ratio of 4.12 and a beta of 1.34. Costamare Inc. has a 52 week low of $10.14 and a 52 week high of $17.58. The company has a quick ratio of 1.56, a current ratio of 1.65 and a debt-to-equity ratio of 0.73. The company has a 50 day moving average price of $13.65 and a 200 day moving average price of $14.40.

Costamare (NYSE:CMRE) last posted its quarterly earnings results on Friday, November 1st. The shipping company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. The business had revenue of $544.64 million during the quarter, compared to analysts’ expectations of $434.13 million. Costamare had a net margin of 19.11% and a return on equity of 14.28%. During the same quarter last year, the company posted $0.46 earnings per share. Sell-side analysts expect that Costamare Inc. will post 2.83 EPS for the current year.

Costamare Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Monday, October 21st were paid a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, October 21st. This represents a $0.46 annualized dividend and a yield of 3.71%. Costamare’s payout ratio is presently 15.28%.

Costamare Profile