Victory Capital Management Inc. Invests $130,000 in Costamare Inc. (NYSE:CMRE)

Victory Capital Management Inc. acquired a new stake in shares of Costamare Inc. (NYSE:CMRE) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 10,114 shares of the shipping company’s stock, valued at approximately $130,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quarry LP increased its stake in shares of Costamare by 157.5% in the third quarter. Quarry LP now owns 3,275 shares of the shipping company’s stock worth $51,000 after purchasing an additional 2,003 shares in the last quarter. Blue Trust Inc. grew its stake in shares of Costamare by 43.5% in the 4th quarter. Blue Trust Inc. now owns 10,606 shares of the shipping company’s stock worth $136,000 after buying an additional 3,213 shares in the last quarter. Intech Investment Management LLC purchased a new position in shares of Costamare during the 3rd quarter worth about $195,000. Public Employees Retirement System of Ohio purchased a new position in shares of Costamare during the 3rd quarter worth about $213,000. Finally, SG Americas Securities LLC boosted its stake in shares of Costamare by 128.0% during the 4th quarter. SG Americas Securities LLC now owns 18,360 shares of the shipping company’s stock worth $236,000 after purchasing an additional 10,308 shares during the period. 58.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CMRE has been the subject of a number of research analyst reports. Jefferies Financial Group reiterated a “hold” rating and set a $13.00 price objective on shares of Costamare in a report on Wednesday, February 5th. StockNews.com lowered shares of Costamare from a “buy” rating to a “hold” rating in a report on Friday, March 14th.

Costamare Trading Down 5.1 %

NYSE CMRE opened at $10.13 on Monday. 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 firm has a market cap of $1.21 billion, a PE ratio of 4.15 and a beta of 1.28. The company has a 50 day moving average price of $10.96 and a 200 day moving average price of $12.76. Costamare Inc. has a 52 week low of $9.66 and a 52 week high of $17.58.

Costamare (NYSE:CMRE) last released its earnings results on Wednesday, February 5th. The shipping company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.03. Costamare had a net margin of 15.14% and a return on equity of 14.03%. As a group, sell-side analysts forecast that Costamare Inc. will post 2.52 EPS for the current fiscal year.

Costamare Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 6th. Stockholders of record on Tuesday, January 21st were issued a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 4.54%. The ex-dividend date was Tuesday, January 21st. Costamare’s dividend payout ratio (DPR) is currently 18.85%.

Costamare Company Profile