Petrus Trust Company LTA Acquires Shares of 22,376 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 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 (SEC). The institutional investor purchased 22,376 shares of the shipping company's stock, valued at approximately $220,000.

A number of other hedge funds also recently bought and sold shares of CMRE. Quarry LP boosted its holdings in Costamare by 21,575.0% during the first quarter. Quarry LP now owns 3,468 shares of the shipping company's stock valued at $34,000 after acquiring an additional 3,452 shares during the period. New Age Alpha Advisors LLC raised its position in Costamare by 89.4% in the first quarter. New Age Alpha Advisors LLC now owns 7,393 shares of the shipping company's stock worth $73,000 after purchasing an additional 3,489 shares in the last quarter. Man Group plc acquired a new stake in shares of Costamare during the fourth quarter worth approximately $133,000. Graham Capital Management L.P. acquired a new stake in shares of Costamare during the fourth quarter worth approximately $145,000. Finally, Aigen Investment Management LP acquired a new stake in shares of Costamare during the first quarter worth approximately $150,000. 58.08% of the stock is currently owned by institutional investors.

Costamare Price Performance

Shares of NYSE CMRE traded up $0.18 during mid-day trading on Monday, hitting $12.48. 92,950 shares of the stock were exchanged, compared to its average volume of 504,350. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.64 and a current ratio of 1.68. The company has a market cap of $1.50 billion, a P/E ratio of 5.30 and a beta of 1.29. The stock's fifty day simple moving average is $10.70 and its two-hundred day simple moving average is $9.74. Costamare Inc. has a twelve month low of $6.63 and a twelve month high of $15.96.

Costamare (NYSE:CMRE - Get Free Report) last issued its quarterly earnings results 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 quarter last year, the business posted $0.76 earnings per share. As a group, analysts forecast 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. Shareholders of record on Monday, July 21st were paid 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 3.7%. Costamare's dividend payout ratio (DPR) is presently 19.49%.

Costamare Profile