DGS Capital Management LLC Lowers Stake in Costamare Inc. (NYSE:CMRE)

DGS Capital Management LLC lowered its position in shares of Costamare Inc. (NYSE:CMRE) by 7.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,619 shares of the shipping company’s stock after selling 1,899 shares during the quarter. DGS Capital Management LLC’s holdings in Costamare were worth $256,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in CMRE. PNC Financial Services Group Inc. lifted its holdings in Costamare by 1,877.2% during the second quarter. PNC Financial Services Group Inc. now owns 2,689 shares of the shipping company’s stock valued at $26,000 after purchasing an additional 2,553 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Costamare by 157.0% in the third quarter. Tower Research Capital LLC TRC now owns 5,290 shares of the shipping company’s stock worth $47,000 after buying an additional 3,232 shares in the last quarter. Sunbelt Securities Inc. purchased a new position in shares of Costamare in the second quarter worth $51,000. Price T Rowe Associates Inc. MD purchased a new position in shares of Costamare in the first quarter worth $95,000. Finally, Point72 Middle East FZE purchased a new position in shares of Costamare in the fourth quarter worth $98,000. Hedge funds and other institutional investors own 58.08% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Costamare from a “hold” rating to a “buy” rating in a report on Thursday, April 11th.

Costamare Trading Down 0.8 %

Shares of CMRE opened at $10.98 on Wednesday. The company’s fifty day moving average is $11.25 and its 200 day moving average is $10.39. Costamare Inc. has a fifty-two week low of $7.71 and a fifty-two week high of $11.85. The stock has a market capitalization of $1.29 billion, a PE ratio of 3.72 and a beta of 1.38. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.59 and a current ratio of 1.69.

Costamare (NYSE:CMRE) last announced its quarterly earnings results on Wednesday, February 7th. The shipping company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.06. Costamare had a net margin of 25.26% and a return on equity of 11.37%. The company had revenue of $494.85 million for the quarter, compared to analysts’ expectations of $419.00 million. During the same quarter in the previous year, the business posted $0.61 earnings per share. Sell-side analysts expect that Costamare Inc. will post 2.73 earnings per share for the current fiscal year.

Costamare Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 6th. Investors of record on Friday, April 19th will be given a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 4.19%. The ex-dividend date of this dividend is Thursday, April 18th. Costamare’s dividend payout ratio 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.