State Street Corp Buys 30,986 Shares of Costamare Inc. (NYSE:CMRE)

State Street Corp grew its stake in Costamare Inc. (NYSE:CMRE) by 2.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,213,838 shares of the shipping company’s stock after acquiring an additional 30,986 shares during the quarter. State Street Corp owned 1.03% of Costamare worth $19,082,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Acadian Asset Management LLC raised its position in shares of Costamare by 1,322.0% in the 2nd quarter. Acadian Asset Management LLC now owns 1,469,697 shares of the shipping company’s stock worth $24,119,000 after purchasing an additional 1,366,344 shares during the last quarter. Federated Hermes Inc. raised its holdings in Costamare by 25,731.0% in the second quarter. Federated Hermes Inc. now owns 401,414 shares of the shipping company’s stock worth $6,595,000 after buying an additional 399,860 shares during the last quarter. Marshall Wace LLP lifted its stake in shares of Costamare by 985.5% in the second quarter. Marshall Wace LLP now owns 357,557 shares of the shipping company’s stock worth $5,875,000 after buying an additional 324,618 shares in the last quarter. Foundry Partners LLC purchased a new stake in shares of Costamare during the third quarter valued at approximately $4,032,000. Finally, American Century Companies Inc. increased its position in shares of Costamare by 62.9% during the second quarter. American Century Companies Inc. now owns 621,764 shares of the shipping company’s stock valued at $10,216,000 after acquiring an additional 239,970 shares in the last quarter. 58.08% of the stock is owned by hedge funds and other institutional investors.

Costamare Trading Up 3.5 %

Shares of CMRE stock opened at $12.82 on Tuesday. The company has a current ratio of 1.65, a quick ratio of 1.56 and a debt-to-equity ratio of 0.73. Costamare Inc. has a 12-month low of $10.14 and a 12-month high of $17.58. The stock has a market capitalization of $1.51 billion, a P/E ratio of 4.26 and a beta of 1.34. The firm’s 50 day moving average is $13.65 and its 200 day moving average is $14.38.

Costamare (NYSE:CMRE) 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 return on equity of 14.28% and a net margin of 19.11%. The company had revenue of $544.64 million during the quarter, compared to analyst estimates of $434.13 million. During the same quarter in the previous year, the company posted $0.46 earnings per share. Research analysts expect that Costamare Inc. will post 2.83 earnings per share for the current year.

Costamare Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 6th. Stockholders of record on Monday, October 21st were paid a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 3.59%. The ex-dividend date was Monday, October 21st. Costamare’s dividend payout ratio (DPR) is presently 15.28%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on CMRE shares. StockNews.com cut Costamare from a “buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Jefferies Financial Group reaffirmed a “hold” rating and set a $13.00 price objective on shares of Costamare in a research report on Friday, November 1st.

Costamare Profile