Costamare (NYSE:CMRE) Rating Lowered to Hold at StockNews.com

StockNews.com lowered shares of Costamare (NYSE:CMRE) from a buy rating to a hold rating in a research note issued to investors on Thursday morning.

A number of other analysts have also recently issued reports on CMRE. Stifel Nicolaus boosted their target price on Costamare from $12.00 to $14.00 and gave the stock a hold rating in a report on Wednesday, July 24th. Jefferies Financial Group boosted their price target 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 Down 1.3 %

Shares of NYSE:CMRE opened at $13.85 on Thursday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.81 and a current ratio of 1.61. Costamare has a 1 year low of $8.54 and a 1 year high of $17.58. The stock has a market capitalization of $1.63 billion, a P/E ratio of 5.37 and a beta of 1.38. The stock has a 50-day simple moving average of $15.17 and a 200-day simple moving average of $13.23.

Costamare Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, July 19th were given a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date was Friday, July 19th. Costamare’s payout ratio is 17.83%.

Hedge Funds Weigh In On Costamare

A number of institutional investors have recently made changes to their positions in the business. Creative Planning raised its position in shares of Costamare by 5.2% during the 2nd quarter. Creative Planning now owns 55,067 shares of the shipping company’s stock valued at $905,000 after acquiring an additional 2,703 shares in the last quarter. Susquehanna Fundamental Investments LLC raised its position in shares of Costamare by 408.6% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 118,495 shares of the shipping company’s stock valued at $1,947,000 after acquiring an additional 95,196 shares in the last quarter. AQR Capital Management LLC raised its position in shares of Costamare by 69.8% during the 2nd quarter. AQR Capital Management LLC now owns 77,622 shares of the shipping company’s stock valued at $1,275,000 after acquiring an additional 31,896 shares in the last quarter. Marshall Wace LLP raised its position in shares of Costamare by 985.5% during the 2nd quarter. Marshall Wace LLP now owns 357,557 shares of the shipping company’s stock valued at $5,875,000 after acquiring an additional 324,618 shares in the last quarter. Finally, Sei Investments Co. acquired a new stake in shares of Costamare during the 2nd quarter valued at approximately $674,000. 58.08% of the stock is owned by institutional investors and hedge funds.

About Costamare