Invesco Ltd. Sells 38,228 Shares of Costamare Inc. $CMRE

Key Points

• Invesco Ltd. reduced its stake in Costamare Inc. by 20.4% in the first quarter, selling 38,228 shares, and currently owns approximately 0.12% of the company valued at $1.47 million.
• Costamare reported $0.77 earnings per share for the last quarter, exceeding expectations by $0.29, and had a net revenue of $211.20 million.
• The company has declared a quarterly dividend of $0.115 per share, resulting in an annualized yield of 4.0% with a payout ratio of 19.49%.

Invesco Ltd. trimmed its stake in Costamare Inc. (NYSE:CMRE - Free Report) by 20.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 149,582 shares of the shipping company's stock after selling 38,228 shares during the period. Invesco Ltd. owned 0.12% of Costamare worth $1,472,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of CMRE. Aquatic Capital Management LLC purchased a new stake in shares of Costamare in the 4th quarter worth about $45,000. New Age Alpha Advisors LLC increased its stake in shares of Costamare by 89.4% in the 1st quarter. New Age Alpha Advisors LLC now owns 7,393 shares of the shipping company's stock worth $73,000 after acquiring an additional 3,489 shares in the last quarter. Man Group plc bought a new position in shares of Costamare in the 4th quarter worth about $133,000. Mariner LLC bought a new position in shares of Costamare in the 4th quarter worth about $134,000. Finally, Graham Capital Management L.P. bought a new position in shares of Costamare in the 4th quarter worth about $145,000. 58.08% of the stock is owned by hedge funds and other institutional investors.

Costamare Stock Down 0.8%

NYSE:CMRE traded down $0.09 on Thursday, reaching $11.81. 254,857 shares of the stock traded hands, compared to its average volume of 509,440. The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of 5.01 and a beta of 1.29. The company has a current ratio of 1.68, a quick ratio of 1.64 and a debt-to-equity ratio of 0.65. Costamare Inc. has a 12 month low of $6.63 and a 12 month high of $15.96. The company's fifty day simple moving average is $10.28 and its 200 day simple moving average is $9.66.

Costamare (NYSE:CMRE - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The shipping company reported $0.77 earnings per share for the quarter, beating analysts' consensus estimates of $0.48 by $0.29. The business had revenue of $211.20 million during the quarter, compared to analyst estimates of $209.72 million. Costamare had a net margin of 17.10% and a return on equity of 13.67%. During the same period last year, the business earned $0.76 EPS. Equities analysts predict that Costamare Inc. will post 2.52 EPS for the current fiscal year.

Costamare Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 6th. Investors of record on Monday, July 21st were issued a $0.115 dividend. The ex-dividend date of this dividend was Monday, July 21st. This represents a $0.46 dividend on an annualized basis and a dividend yield of 3.9%. Costamare's dividend payout ratio (DPR) is presently 19.49%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen initiated coverage on shares of Costamare in a research note on Thursday, May 15th. They issued a "hold" rating for the company. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $13.00.

Costamare Company Profile