Petrus Trust Company LTA Takes Position in Costamare Inc. $CMRE

Key Points

• Petrus Trust Company LTA has acquired a new position in Costamare Inc., purchasing 22,376 shares valued at approximately $220,000 in the first quarter.
• Several other institutional investors, including MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. and Principal Financial Group Inc., have also increased their stakes in Costamare, with 58.08% of the stock now owned by hedge funds and institutional investors.
• Costamare recently announced a quarterly dividend of $0.115, resulting in an annualized dividend yield of 3.7%, and reported earnings per share of $0.77, exceeding analysts' expectations.

Petrus Trust Company LTA purchased a new position in shares of Costamare Inc. (NYSE:CMRE - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 22,376 shares of the shipping company's stock, valued at approximately $220,000.

Other institutional investors have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Costamare by 4.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,596 shares of the shipping company's stock valued at $316,000 after buying an additional 1,064 shares during the last quarter. Principal Financial Group Inc. boosted its position in Costamare by 2.5% in the 1st quarter. Principal Financial Group Inc. now owns 67,268 shares of the shipping company's stock valued at $662,000 after buying an additional 1,630 shares during the last quarter. Navellier & Associates Inc. boosted its position in Costamare by 8.6% in the 1st quarter. Navellier & Associates Inc. now owns 25,382 shares of the shipping company's stock valued at $240,000 after buying an additional 2,012 shares during the last quarter. Lifestyle Asset Management Inc. boosted its position in Costamare by 14.3% in the 1st quarter. Lifestyle Asset Management Inc. now owns 23,594 shares of the shipping company's stock valued at $232,000 after buying an additional 2,956 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in Costamare by 21.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,099 shares of the shipping company's stock valued at $220,000 after buying an additional 3,014 shares during the last quarter. 58.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Costamare Stock Performance

Shares of Costamare stock opened at $12.29 on Wednesday. The firm has a market cap of $1.48 billion, a PE ratio of 5.21 and a beta of 1.29. The firm's 50-day simple moving average is $10.52 and its 200-day simple moving average is $9.70. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.64 and a current ratio of 1.68. Costamare Inc. has a 1 year low of $6.63 and a 1 year high of $15.96.

Costamare (NYSE:CMRE - Get Free Report) last issued its earnings results on Thursday, July 31st. The shipping company reported $0.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.48 by $0.29. The business had revenue of $211.20 million for 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 quarter in the prior year, the business posted $0.76 EPS. Equities analysts forecast that Costamare Inc. will post 2.52 earnings per share for the current fiscal year.

Costamare Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 6th. Stockholders of record on Monday, July 21st were paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date was Monday, July 21st. Costamare's dividend payout ratio is 19.49%.

About Costamare

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