Nisa Investment Advisors LLC decreased its stake in COSTAMARE Inc/SH (NYSE:CMRE) by 34.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 55,040 shares of the shipping company’s stock after selling 29,200 shares during the period. Nisa Investment Advisors LLC’s holdings in COSTAMARE Inc/SH were worth $357,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of CMRE. Northern Trust Corp boosted its position in COSTAMARE Inc/SH by 12.3% during the 2nd quarter. Northern Trust Corp now owns 476,308 shares of the shipping company’s stock valued at $3,800,000 after buying an additional 52,001 shares during the period. Raymond James & Associates purchased a new stake in COSTAMARE Inc/SH during the 2nd quarter valued at $106,000. Renaissance Technologies LLC boosted its position in COSTAMARE Inc/SH by 75.8% during the 2nd quarter. Renaissance Technologies LLC now owns 1,437,400 shares of the shipping company’s stock valued at $11,470,000 after buying an additional 619,700 shares during the period. Federated Investors Inc. PA boosted its position in COSTAMARE Inc/SH by 46,343.3% during the 2nd quarter. Federated Investors Inc. PA now owns 328,354 shares of the shipping company’s stock valued at $2,620,000 after buying an additional 327,647 shares during the period. Finally, Globeflex Capital L P boosted its position in COSTAMARE Inc/SH by 98.4% during the 2nd quarter. Globeflex Capital L P now owns 341,689 shares of the shipping company’s stock valued at $2,727,000 after buying an additional 169,463 shares during the period. 25.84% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:CMRE opened at $5.30 on Thursday. COSTAMARE Inc/SH has a 12 month low of $5.06 and a 12 month high of $8.39. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.79 and a quick ratio of 0.74. The stock has a market capitalization of $565.63 million, a PE ratio of 10.79 and a beta of 1.99.
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 8th. Stockholders of record on Tuesday, October 23rd will be given a $0.10 dividend. The ex-dividend date is Monday, October 22nd. This represents a $0.40 annualized dividend and a dividend yield of 7.55%. COSTAMARE Inc/SH’s dividend payout ratio is 51.95%.
Several equities research analysts have weighed in on the stock. Zacks Investment Research cut shares of COSTAMARE Inc/SH from a “hold” rating to a “sell” rating in a research report on Wednesday, July 11th. Morgan Stanley raised their target price on shares of COSTAMARE Inc/SH from $7.70 to $9.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 11th. Wells Fargo & Co dropped their target price on shares of COSTAMARE Inc/SH from $8.50 to $8.00 and set an “outperform” rating for the company in a research report on Tuesday, July 31st. Finally, ValuEngine cut shares of COSTAMARE Inc/SH from a “buy” rating to a “hold” rating in a research report on Tuesday, September 4th.
COSTAMARE Inc/SH Profile
Costamare Inc owns and charters containerships to liner companies worldwide. As of February 23, 2018, it had a fleet of 71 containerships with a total capacity of approximately 466,000 twenty foot equivalent unit (TEU), including 64 vessels in the water, aggregating approximately 462,000 TEU; and 1 new build vessel of 3,800 TEU.
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