Costamare Inc. (NYSE:CMRE) Short Interest Update

Costamare Inc. (NYSE:CMRE - Get Free Report) was the target of a large decrease in short interest in the month of March. As of March 31st, there was short interest totalling 1,270,000 shares, a decrease of 6.6% from the March 15th total of 1,360,000 shares. Currently, 2.8% of the company's shares are sold short. Based on an average daily volume of 441,300 shares, the days-to-cover ratio is presently 2.9 days.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Costamare from a "hold" rating to a "buy" rating in a research note on Thursday, April 11th.

Institutional Investors Weigh In On Costamare

Several hedge funds and other institutional investors have recently made changes to their positions in CMRE. PNC Financial Services Group Inc. grew its stake in Costamare by 1,877.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 2,689 shares of the shipping company's stock worth $26,000 after buying an additional 2,553 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of Costamare by 197.8% in the 4th quarter. Parallel Advisors LLC now owns 4,059 shares of the shipping company's stock valued at $42,000 after purchasing an additional 2,696 shares during the last quarter. Quarry LP grew its stake in shares of Costamare by 48.5% in the 4th quarter. Quarry LP now owns 4,216 shares of the shipping company's stock valued at $44,000 after purchasing an additional 1,376 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Costamare by 157.0% in the 3rd quarter. Tower Research Capital LLC TRC now owns 5,290 shares of the shipping company's stock valued at $47,000 after purchasing an additional 3,232 shares during the last quarter. Finally, Sunbelt Securities Inc. purchased a new position in shares of Costamare in the 2nd quarter valued at approximately $51,000. Institutional investors and hedge funds own 58.08% of the company's stock.

Costamare Stock Down 0.8 %

CMRE stock traded down $0.09 during mid-day trading on Tuesday, reaching $10.98. The company had a trading volume of 247,872 shares, compared to its average volume of 437,056. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.59 and a current ratio of 1.69. The company has a market capitalization of $1.29 billion, a price-to-earnings ratio of 3.72 and a beta of 1.38. The firm has a fifty day simple moving average of $11.24 and a 200 day simple moving average of $10.38. Costamare has a fifty-two week low of $7.71 and a fifty-two week high of $11.85.

Costamare (NYSE:CMRE - Get Free Report) last posted its quarterly earnings results on Wednesday, February 7th. The shipping company reported $0.68 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.62 by $0.06. The company had revenue of $494.85 million for the quarter, compared to analyst estimates of $419.00 million. Costamare had a return on equity of 11.37% and a net margin of 25.26%. During the same quarter last year, the company earned $0.61 EPS. Analysts forecast that Costamare will post 2.73 earnings per share for the current fiscal year.

Costamare Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 6th. Stockholders of record on Friday, April 19th will be given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 4.19%. The ex-dividend date is Thursday, April 18th. Costamare's dividend payout ratio (DPR) is presently 15.59%.

About Costamare

Costamare Inc engages in owning and chartering containerships and dry bulk vessels that are chartered to liner companies providing transportation of cargoes worldwide. As of March 21, 2023, it had a fleet of fleet of 71 containerships and 45 dry bulk vessels. The company was founded in 1974 and is based in Monaco.