Costamare Inc. (NYSE:CMRE) Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System reduced its stake in Costamare Inc. (NYSE:CMRE) by 38.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,674 shares of the shipping company’s stock after selling 2,975 shares during the period. California State Teachers Retirement System’s holdings in Costamare were worth $53,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SummerHaven Investment Management LLC increased its holdings in Costamare by 1.5% during the 4th quarter. SummerHaven Investment Management LLC now owns 72,729 shares of the shipping company’s stock worth $757,000 after purchasing an additional 1,083 shares during the period. Quarry LP increased its stake in shares of Costamare by 48.5% during the fourth quarter. Quarry LP now owns 4,216 shares of the shipping company’s stock worth $44,000 after buying an additional 1,376 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Costamare by 3.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 40,427 shares of the shipping company’s stock valued at $459,000 after acquiring an additional 1,390 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Costamare by 12.7% in the fourth quarter. Victory Capital Management Inc. now owns 13,252 shares of the shipping company’s stock worth $138,000 after acquiring an additional 1,498 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in Costamare by 19.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,681 shares of the shipping company’s stock worth $156,000 after acquiring an additional 2,223 shares in the last quarter. 58.08% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CMRE has been the topic of a number of analyst reports. StockNews.com lowered shares of Costamare from a “buy” rating to a “hold” rating in a report on Thursday, August 15th. Stifel Nicolaus raised their price target on Costamare from $12.00 to $14.00 and gave the company a “hold” rating in a research note on Wednesday, July 24th. Finally, Jefferies Financial Group upped their price objective on Costamare from $12.00 to $13.00 and gave the stock a “hold” rating in a research report on Wednesday, July 31st.

Costamare Stock Up 1.4 %

Shares of NYSE:CMRE opened at $14.05 on Tuesday. The firm has a 50 day simple moving average of $15.13 and a 200-day simple moving average of $13.25. Costamare Inc. has a twelve month low of $8.54 and a twelve month high of $17.58. The company has a current ratio of 1.61, a quick ratio of 1.81 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $1.65 billion, a PE ratio of 5.44 and a beta of 1.38.

Costamare Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, July 19th were given a $0.115 dividend. The ex-dividend date was Friday, July 19th. This represents a $0.46 dividend on an annualized basis and a yield of 3.28%. Costamare’s dividend payout ratio (DPR) is presently 17.83%.

Costamare Company Profile