HighTower Advisors LLC Trims Stock Position in Costamare Inc. (NYSE:CMRE)

HighTower Advisors LLC lowered its position in Costamare Inc. (NYSE:CMRE) by 21.9% during the 3rd quarter, Holdings Channel reports. The firm owned 12,306 shares of the shipping company’s stock after selling 3,450 shares during the quarter. HighTower Advisors LLC’s holdings in Costamare were worth $193,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of CMRE. nVerses Capital LLC grew its position in shares of Costamare by 1,700.0% during the 3rd quarter. nVerses Capital LLC now owns 1,800 shares of the shipping company’s stock worth $28,000 after buying an additional 1,700 shares in the last quarter. Gladius Capital Management LP bought a new stake in shares of Costamare in the third quarter valued at about $35,000. Redwood Wealth Management Group LLC purchased a new stake in Costamare in the second quarter worth about $80,000. Blue Trust Inc. lifted its stake in Costamare by 2,540.4% in the third quarter. Blue Trust Inc. now owns 7,393 shares of the shipping company’s stock worth $121,000 after acquiring an additional 7,113 shares during the period. Finally, Sanctuary Advisors LLC bought a new position in Costamare during the 2nd quarter worth about $185,000. 58.08% of the stock is owned by institutional investors.

Costamare Trading Up 0.8 %

Shares of NYSE CMRE opened at $12.92 on Thursday. Costamare Inc. has a 1-year low of $10.14 and a 1-year high of $17.58. The business has a fifty day moving average price of $13.58 and a 200 day moving average price of $14.33. The stock has a market capitalization of $1.52 billion, a P/E ratio of 4.29 and a beta of 1.34. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.65 and a quick ratio of 1.56.

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

Costamare Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 6th. Investors of record on Monday, October 21st were given a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, October 21st. This represents a $0.46 dividend on an annualized basis and a yield of 3.56%. Costamare’s payout ratio is 15.28%.

Wall Street Analyst Weigh In

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

Costamare Company Profile