Public Employees Retirement System of Ohio Takes Position in Costamare Inc. (NYSE:CMRE)

Public Employees Retirement System of Ohio purchased a new stake in Costamare Inc. (NYSE:CMRE) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 13,570 shares of the shipping company’s stock, valued at approximately $213,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CMRE. Oppenheimer & Co. Inc. bought a new stake in shares of Costamare in the 3rd quarter valued at approximately $886,000. Foundry Partners LLC purchased a new position in Costamare during the third quarter worth $4,032,000. Federated Hermes Inc. increased its position in Costamare by 25,731.0% during the second quarter. Federated Hermes Inc. now owns 401,414 shares of the shipping company’s stock valued at $6,595,000 after acquiring an additional 399,860 shares during the last quarter. Acadian Asset Management LLC raised its stake in shares of Costamare by 1,322.0% in the second quarter. Acadian Asset Management LLC now owns 1,469,697 shares of the shipping company’s stock valued at $24,119,000 after acquiring an additional 1,366,344 shares during the period. Finally, Creative Planning raised its position in Costamare by 5.2% in the 2nd quarter. Creative Planning now owns 55,067 shares of the shipping company’s stock worth $905,000 after purchasing an additional 2,703 shares during the period. Hedge funds and other institutional investors own 58.08% of the company’s stock.

Costamare Stock Performance

Shares of NYSE:CMRE opened at $12.39 on Friday. The firm’s 50 day simple moving average is $13.65 and its 200-day simple moving average is $14.40. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.56 and a current ratio of 1.65. Costamare Inc. has a one year low of $10.14 and a one year high of $17.58. The firm has a market cap of $1.46 billion, a PE ratio of 4.12 and a beta of 1.34.

Costamare (NYSE:CMRE) last released its quarterly earnings data on Friday, November 1st. The shipping company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.64 by $0.04. Costamare had a return on equity of 14.28% and a net margin of 19.11%. The company had revenue of $544.64 million for the quarter, compared to the consensus estimate of $434.13 million. During the same period last year, the business posted $0.46 EPS. As a group, equities analysts predict that Costamare Inc. will post 2.83 EPS for the current year.

Costamare Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 6th. Investors of record on Monday, October 21st were issued a $0.115 dividend. The ex-dividend date was Monday, October 21st. This represents a $0.46 annualized dividend and a dividend yield of 3.71%. Costamare’s payout ratio is currently 15.28%.

Analyst Ratings Changes

CMRE has been the subject of a number of research analyst reports. StockNews.com lowered Costamare from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Jefferies Financial Group reiterated a “hold” rating and set a $13.00 target price on shares of Costamare in a research report on Friday, November 1st.

About Costamare