Unison Advisors LLC Sells 63,081 Shares of Costamare Inc. $CMRE

Key Points

• Unison Advisors cut its stake in Costamare by 58.1%, selling 63,081 shares and retaining 45,500 shares worth about $718,000 at quarter-end.
• Costamare missed quarterly estimates with $0.60 EPS vs. $0.74 expected and revenue of $200.18M (down 6.9% year-over-year); the stock trades at a P/E of 6.07 and a market cap of roughly $2.08B.
• The company declared a quarterly dividend of $0.115 (annualized $0.46, yield ~2.7%) payable May 5 with an ex-dividend date of April 20, while analysts maintain an average rating of Hold and a $12 consensus price target.

Unison Advisors LLC lessened its holdings in Costamare Inc. (NYSE:CMRE - Free Report) by 58.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 45,500 shares of the shipping company's stock after selling 63,081 shares during the period. Unison Advisors LLC's holdings in Costamare were worth $718,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC boosted its holdings in Costamare by 204.9% during the second quarter. Tower Research Capital LLC TRC now owns 6,897 shares of the shipping company's stock valued at $63,000 after purchasing an additional 4,635 shares in the last quarter. Focus Partners Wealth acquired a new position in shares of Costamare in the 3rd quarter worth approximately $66,000. State of Alaska Department of Revenue bought a new position in shares of Costamare during the 3rd quarter worth approximately $79,000. BNP Paribas Financial Markets lifted its position in shares of Costamare by 84.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 8,828 shares of the shipping company's stock worth $105,000 after buying an additional 4,040 shares during the period. Finally, Envestnet Asset Management Inc. acquired a new stake in Costamare in the 3rd quarter valued at $123,000. Institutional investors own 58.08% of the company's stock.

Costamare Stock Performance

NYSE:CMRE opened at $17.31 on Monday. The stock has a market capitalization of $2.08 billion, a P/E ratio of 6.07 and a beta of 1.22. The company has a current ratio of 1.73, a quick ratio of 1.70 and a debt-to-equity ratio of 0.58. Costamare Inc. has a 1 year low of $6.63 and a 1 year high of $17.91. The firm has a 50 day moving average of $16.82 and a 200-day moving average of $15.06.

Costamare (NYSE:CMRE - Get Free Report) last released its quarterly earnings results on Sunday, February 15th. The shipping company reported $0.60 EPS for the quarter, missing analysts' consensus estimates of $0.74 by ($0.14). Costamare had a return on equity of 15.52% and a net margin of 33.19%.The business had revenue of $200.18 million for the quarter, compared to the consensus estimate of $204.00 million. The business's revenue was down 6.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Costamare Inc. will post 2.52 EPS for the current fiscal year.

Costamare Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 5th. Stockholders of record on Monday, April 20th will be issued a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Monday, April 20th. Costamare's dividend payout ratio is presently 16.14%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CMRE. Wall Street Zen upgraded Costamare from a "hold" rating to a "buy" rating in a research report on Saturday, March 28th. Weiss Ratings downgraded shares of Costamare from a "buy (b-)" rating to a "hold (c)" rating in a research note on Thursday, March 5th. Three analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $12.00.

Costamare Profile

Costamare Inc is a leading owner and manager of containerships, specializing in the acquisition, chartering and operation of modern container vessels. The company secures employment for its fleet under a mix of long‐term and short‐term agreements, providing vital capacity to major shipping lines and leveraging fixed-rate charters to support cash flow stability.

Founded in 1974 and headquartered in Athens, Greece, Costamare has cultivated a disciplined approach to fleet renewal, often overseeing newbuild supervision and shipyard coordination to ensure vessels meet performance and environmental standards.

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