Nuveen LLC Purchases Shares of 10,109,996 Costamare Inc. (NYSE:CMRE)

Key Points

• Nuveen LLC has acquired a significant stake in Costamare Inc., purchasing over 10 million shares valued at approximately $99 million, representing 8.43% of the company.
• Costamare's recent quarterly earnings surpassed expectations, reporting $0.77 EPS and generating revenues of $211.20 million, compared to estimates of $209.72 million.
• The company declared a quarterly dividend of $0.115, yielding approximately 4.2%, with a payout ratio of 19.49%.

Nuveen LLC purchased a new stake in shares of Costamare Inc. (NYSE:CMRE - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 10,109,996 shares of the shipping company's stock, valued at approximately $99,482,000. Nuveen LLC owned 8.43% of Costamare as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in CMRE. Allspring Global Investments Holdings LLC lifted its position in shares of Costamare by 61.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 24,567 shares of the shipping company's stock valued at $242,000 after buying an additional 9,327 shares in the last quarter. Squarepoint Ops LLC purchased a new position in shares of Costamare during the 4th quarter valued at about $513,000. Y Intercept Hong Kong Ltd purchased a new position in shares of Costamare during the 1st quarter valued at about $274,000. Denali Advisors LLC lifted its position in shares of Costamare by 9.2% during the 1st quarter. Denali Advisors LLC now owns 555,073 shares of the shipping company's stock valued at $5,462,000 after buying an additional 46,878 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Costamare by 525.8% during the 1st quarter. GAMMA Investing LLC now owns 8,974 shares of the shipping company's stock valued at $912,000 after buying an additional 7,540 shares in the last quarter. 58.08% of the stock is currently owned by institutional investors.

Costamare Stock Up 2.2%

CMRE stock opened at $10.88 on Wednesday. Costamare Inc. has a twelve month low of $6.63 and a twelve month high of $15.96. The company has a quick ratio of 1.64, a current ratio of 1.68 and a debt-to-equity ratio of 0.65. The stock has a market cap of $1.30 billion, a P/E ratio of 4.61 and a beta of 1.28. The business's 50-day moving average price is $9.54 and its 200-day moving average price is $9.62.

Costamare (NYSE:CMRE - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The shipping company reported $0.77 EPS for the quarter, topping analysts' consensus estimates of $0.48 by $0.29. Costamare had a return on equity of 13.67% and a net margin of 17.10%. The company had revenue of $211.20 million for the quarter, compared to analysts' expectations of $209.72 million. During the same period in the previous year, the firm earned $0.76 EPS. On average, equities research analysts forecast that Costamare Inc. will post 2.52 EPS for the current year.

Costamare Dividend Announcement

The firm also recently declared 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 yield of 4.2%. Costamare's payout ratio is currently 19.49%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen started coverage on Costamare in a research report on Thursday, May 15th. They set a "hold" rating on the stock.

Costamare Profile

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