Costamare Inc. (NYSE:CMRE) Position Increased by Creative Planning

Creative Planning raised its position in shares of Costamare Inc. (NYSE:CMRE) by 5.2% in the second quarter, Holdings Channel.com reports. The institutional investor owned 55,067 shares of the shipping company’s stock after buying an additional 2,703 shares during the period. Creative Planning’s holdings in Costamare were worth $905,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of CMRE. Quarry LP lifted its stake in Costamare by 48.5% during the fourth quarter. Quarry LP now owns 4,216 shares of the shipping company’s stock valued at $44,000 after buying an additional 1,376 shares in the last quarter. Quadrature Capital Ltd lifted its stake in Costamare by 34.6% during the fourth quarter. Quadrature Capital Ltd now owns 31,268 shares of the shipping company’s stock valued at $326,000 after buying an additional 8,042 shares in the last quarter. Ballentine Partners LLC lifted its stake in Costamare by 23.5% during the first quarter. Ballentine Partners LLC now owns 13,567 shares of the shipping company’s stock valued at $154,000 after buying an additional 2,585 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Costamare by 3.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 40,427 shares of the shipping company’s stock worth $459,000 after purchasing an additional 1,390 shares in the last quarter. Finally, Principal Financial Group Inc. purchased a new stake in shares of Costamare in the first quarter worth approximately $455,000. 58.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CMRE has been the subject of a number of research analyst reports. StockNews.com raised shares of Costamare from a “hold” rating to a “buy” rating in a research report on Friday, August 23rd. Stifel Nicolaus increased their price target on shares of Costamare from $12.00 to $14.00 and gave the stock a “hold” rating in a research report on Wednesday, July 24th. Finally, Jefferies Financial Group increased their price target on shares of Costamare from $12.00 to $13.00 and gave the stock a “hold” rating in a research report on Wednesday, July 31st.

Costamare Price Performance

Shares of CMRE opened at $14.65 on Friday. The firm has a market cap of $1.72 billion, a PE ratio of 5.18 and a beta of 1.37. The firm’s 50 day moving average price is $14.19 and its 200 day moving average price is $14.06. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.54 and a current ratio of 1.61. Costamare Inc. has a twelve month low of $8.54 and a twelve month high of $17.58.

Costamare (NYSE:CMRE) last issued its quarterly earnings data on Wednesday, July 31st. The shipping company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.05. The firm had revenue of $515.42 million for the quarter, compared to analyst estimates of $380.41 million. Costamare had a net margin of 19.63% and a return on equity of 13.63%. As a group, research analysts expect that Costamare Inc. will post 3.05 EPS for the current fiscal year.

Costamare Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Monday, October 21st will be given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 3.14%. The ex-dividend date is Monday, October 21st. Costamare’s payout ratio is presently 16.25%.

About Costamare