Arrowstreet Capital Limited Partnership Has $12.98 Million Stake in Costamare Inc. (NYSE:CMRE)

Arrowstreet Capital Limited Partnership cut its position in Costamare Inc. (NYSE:CMRE - Free Report) by 18.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,010,275 shares of the shipping company's stock after selling 231,232 shares during the period. Arrowstreet Capital Limited Partnership owned 0.86% of Costamare worth $12,982,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CMRE. New Age Alpha Advisors LLC bought a new position in shares of Costamare in the fourth quarter worth about $50,000. Quarry LP raised its stake in shares of Costamare by 157.5% during the third quarter. Quarry LP now owns 3,275 shares of the shipping company's stock worth $51,000 after buying an additional 2,003 shares during the last quarter. Victory Capital Management Inc. bought a new stake in shares of Costamare during the fourth quarter worth approximately $130,000. Blue Trust Inc. raised its stake in shares of Costamare by 43.5% during the fourth 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 during the last quarter. Finally, Intech Investment Management LLC bought a new stake in shares of Costamare during the third quarter worth approximately $195,000. 58.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CMRE has been the subject of a number of recent research reports. Jefferies Financial Group reissued a "hold" rating and set a $13.00 price target on shares of Costamare in a research note on Wednesday, February 5th. StockNews.com downgraded shares of Costamare from a "buy" rating to a "hold" rating in a research note on Friday, March 14th.

Costamare Trading Down 3.2 %

NYSE CMRE traded down $0.29 during trading on Thursday, reaching $8.83. 97,453 shares of the stock traded hands, compared to its average volume of 470,273. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of 3.62 and a beta of 1.11. The stock's 50-day moving average price is $10.18 and its 200 day moving average price is $12.35. The company has a quick ratio of 1.56, a current ratio of 1.65 and a debt-to-equity ratio of 0.73. Costamare Inc. has a fifty-two week low of $8.11 and a fifty-two week high of $17.58.

Costamare (NYSE:CMRE - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The shipping company reported $0.69 earnings per share for the quarter, beating 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%. Analysts predict that Costamare Inc. will post 2.52 EPS for the current year.

Costamare Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 6th. Stockholders of record on Thursday, April 17th will be issued a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 5.21%. The ex-dividend date of this dividend is Thursday, April 17th. Costamare's dividend payout ratio (DPR) is presently 18.85%.

Costamare Profile