Foundry Partners LLC Acquires New Position in Costamare Inc. (NYSE:CMRE)

Foundry Partners LLC purchased a new position in shares of Costamare Inc. (NYSE:CMRE - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 256,503 shares of the shipping company's stock, valued at approximately $4,032,000. Foundry Partners LLC owned 0.22% of Costamare as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Intech Investment Management LLC acquired a new stake in Costamare during the 3rd quarter worth about $195,000. Gladius Capital Management LP bought a new position in Costamare during the 3rd quarter valued at $35,000. Empowered Funds LLC lifted its holdings in Costamare by 5.3% during the third quarter. Empowered Funds LLC now owns 572,708 shares of the shipping company's stock worth $9,003,000 after acquiring an additional 29,078 shares during the period. Oppenheimer & Co. Inc. purchased a new stake in Costamare during the third quarter worth about $886,000. Finally, Los Angeles Capital Management LLC raised its holdings in shares of Costamare by 9.7% in the 3rd quarter. Los Angeles Capital Management LLC now owns 160,579 shares of the shipping company's stock worth $2,524,000 after purchasing an additional 14,198 shares during the period. Institutional investors and hedge funds own 58.08% of the company's stock.

Wall Street Analyst Weigh In

CMRE has been the topic of a number of 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 cut shares of Costamare from a "buy" rating to a "hold" rating in a report on Wednesday, October 23rd.

Costamare Trading Up 1.7 %

Costamare stock traded up $0.23 during mid-day trading on Friday, reaching $14.30. 187,697 shares of the company traded hands, compared to its average volume of 483,767. The firm's 50 day moving average price is $14.37 and its 200 day moving average price is $14.60. Costamare Inc. has a 52-week low of $9.16 and a 52-week high of $17.58. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.65 and a quick ratio of 1.56. The firm has a market capitalization of $1.68 billion, a price-to-earnings ratio of 4.75 and a beta of 1.37.

Costamare (NYSE:CMRE - Get Free Report) last issued its quarterly earnings data on Friday, November 1st. The shipping company reported $0.68 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $434.13 million. During the same period last year, the business posted $0.46 earnings per share. On average, analysts anticipate that Costamare Inc. will post 2.83 earnings per share for the current fiscal year.

Costamare Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Monday, October 21st were given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 3.22%. The ex-dividend date was Monday, October 21st. Costamare's dividend payout ratio is currently 15.28%.

Costamare Profile