Sanctuary Advisors LLC Has $1.20 Million Stock Position in Costamare Inc. (NYSE:CMRE)

Sanctuary Advisors LLC boosted its holdings in Costamare Inc. (NYSE:CMRE) by 577.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 76,309 shares of the shipping company’s stock after purchasing an additional 65,040 shares during the quarter. Sanctuary Advisors LLC owned about 0.06% of Costamare worth $1,200,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. nVerses Capital LLC grew its stake in shares of Costamare by 1,700.0% in the 3rd quarter. nVerses Capital LLC now owns 1,800 shares of the shipping company’s stock valued at $28,000 after buying an additional 1,700 shares during the period. Gladius Capital Management LP bought a new position in Costamare in the third quarter worth approximately $35,000. Quarry LP grew its stake in Costamare by 157.5% in the third quarter. Quarry LP now owns 3,275 shares of the shipping company’s stock valued at $51,000 after acquiring an additional 2,003 shares during the period. Redwood Wealth Management Group LLC bought a new stake in shares of Costamare during the second quarter valued at approximately $80,000. Finally, Blue Trust Inc. raised its position in shares of Costamare by 2,540.4% during the third quarter. Blue Trust Inc. now owns 7,393 shares of the shipping company’s stock worth $121,000 after purchasing an additional 7,113 shares during the period. 58.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Jefferies Financial Group restated a “hold” rating and set a $13.00 price target on shares of Costamare in a research note on Friday, November 1st. StockNews.com downgraded shares of Costamare from a “buy” rating to a “hold” rating in a research report on Wednesday, October 23rd.

Costamare Stock Down 0.2 %

Shares of NYSE:CMRE opened at $12.39 on Friday. The business’s 50 day moving average is $13.65 and its 200 day moving average is $14.40. Costamare Inc. has a 12-month low of $10.14 and a 12-month high of $17.58. The stock has a market cap of $1.46 billion, a price-to-earnings ratio of 4.12 and a beta of 1.34. The company has a quick ratio of 1.56, a current ratio of 1.65 and a debt-to-equity ratio of 0.73.

Costamare (NYSE:CMRE) last posted its earnings results on Friday, November 1st. The shipping company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.04. Costamare had a net margin of 19.11% and a return on equity of 14.28%. The firm had revenue of $544.64 million during the quarter, compared to analyst estimates of $434.13 million. During the same quarter in the prior year, the business posted $0.46 EPS. On average, sell-side analysts forecast that Costamare Inc. will post 2.83 earnings per share for the current fiscal year.

Costamare Dividend Announcement

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

Costamare Company Profile