AQR Capital Management LLC Buys 31,896 Shares of Costamare Inc. (NYSE:CMRE)

AQR Capital Management LLC lifted its holdings in shares of Costamare Inc. (NYSE:CMRE) by 69.8% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 77,622 shares of the shipping company’s stock after buying an additional 31,896 shares during the period. AQR Capital Management LLC owned about 0.07% of Costamare worth $1,275,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Acadian Asset Management LLC acquired a new position in Costamare in the 1st quarter worth about $1,172,000. Russell Investments Group Ltd. increased its stake in shares of Costamare by 56,543.3% in the first quarter. Russell Investments Group Ltd. now owns 143,874 shares of the shipping company’s stock valued at $1,633,000 after buying an additional 143,620 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Costamare in the second quarter valued at about $1,999,000. Bridgeway Capital Management LLC increased its stake in shares of Costamare by 16.2% in the fourth quarter. Bridgeway Capital Management LLC now owns 1,313,829 shares of the shipping company’s stock valued at $13,677,000 after buying an additional 183,193 shares during the period. Finally, Federated Hermes Inc. increased its stake in shares of Costamare by 25,731.0% in the second quarter. Federated Hermes Inc. now owns 401,414 shares of the shipping company’s stock valued at $6,595,000 after buying an additional 399,860 shares during the period. Institutional investors and hedge funds own 58.08% of the company’s stock.

Costamare Stock Performance

Shares of CMRE opened at $14.73 on Friday. The company has a current ratio of 1.61, a quick ratio of 1.54 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $1.73 billion, a price-to-earnings ratio of 5.71 and a beta of 1.37. The stock has a 50 day moving average of $14.17 and a 200 day moving average of $14.03. Costamare Inc. has a 12 month low of $8.54 and a 12 month high of $17.58.

Costamare (NYSE:CMRE) last released its earnings results on Wednesday, July 31st. The shipping company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.05. Costamare had a return on equity of 13.63% and a net margin of 19.63%. The business had revenue of $515.42 million during the quarter, compared to the consensus estimate of $380.41 million. As a group, sell-side analysts forecast that Costamare Inc. will post 3.05 earnings per share for the current year.

Costamare Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Monday, October 21st will be given a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date is Monday, October 21st. Costamare’s dividend payout ratio is currently 17.83%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Stifel Nicolaus upped their target price on Costamare from $12.00 to $14.00 and gave the company a “hold” rating in a research report on Wednesday, July 24th. StockNews.com upgraded Costamare from a “hold” rating to a “buy” rating in a report on Friday, August 23rd. Finally, Jefferies Financial Group increased their price target on Costamare from $12.00 to $13.00 and gave the stock a “hold” rating in a report on Wednesday, July 31st.

Costamare Company Profile