Sanctuary Advisors LLC Acquires New Stake in Costamare Inc. (NYSE:CMRE)

Sanctuary Advisors LLC bought a new stake in Costamare Inc. (NYSE:CMRE) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 11,269 shares of the shipping company’s stock, valued at approximately $185,000.

Several other institutional investors have also recently added to or reduced their stakes in CMRE. Unison Advisors LLC lifted its position in Costamare by 1.0% during the second quarter. Unison Advisors LLC now owns 82,707 shares of the shipping company’s stock worth $1,359,000 after buying an additional 854 shares during the period. SummerHaven Investment Management LLC boosted its position in shares of Costamare by 1.3% in the second quarter. SummerHaven Investment Management LLC now owns 74,571 shares of the shipping company’s stock worth $1,225,000 after acquiring an additional 990 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Costamare by 3.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 40,427 shares of the shipping company’s stock valued at $459,000 after purchasing an additional 1,390 shares during the period. CWM LLC increased its position in Costamare by 53.6% during the second quarter. CWM LLC now owns 4,302 shares of the shipping company’s stock worth $71,000 after purchasing an additional 1,502 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in Costamare by 19.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 13,681 shares of the shipping company’s stock worth $156,000 after purchasing an additional 2,223 shares during the period. Institutional investors and hedge funds own 58.08% of the company’s stock.

Costamare Stock Performance

NYSE:CMRE opened at $14.38 on Monday. The firm’s fifty day simple moving average is $14.21 and its 200 day simple moving average is $14.18. The company has a current ratio of 1.61, a quick ratio of 1.54 and a debt-to-equity ratio of 0.77. Costamare Inc. has a twelve month low of $8.54 and a twelve month high of $17.58. The firm has a market capitalization of $1.69 billion, a price-to-earnings ratio of 5.57 and a beta of 1.37.

Costamare (NYSE:CMRE) last issued its quarterly earnings data on Wednesday, July 31st. The shipping company reported $0.77 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 company had revenue of $515.42 million for the quarter, compared to analysts’ expectations of $380.41 million. As a group, equities research analysts expect that Costamare Inc. will post 3.05 earnings per share for the current fiscal year.

Costamare Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Monday, October 21st will be issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date is Monday, October 21st. Costamare’s dividend payout ratio is presently 17.83%.

Analyst Upgrades and Downgrades

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

Costamare Profile