Costamare’s series E preferreds free to trade; Colony NorthStar, Two Harbors down

By Abigail W. Adams

Portland, Me., Jan. 26 – Costamare, Inc.’s recently priced $25-par perpetual 8.875% series E cumulative redeemable preferreds freed for OTC trading on Friday under the ticker “CTMMF.”

The notes were trading in a range of $24.64 to $24.90 early in the session with the most recent trade of $24.71 an increase of 7 cents, or 0.28%.

Costamare sold $115 million, or 4.6 million shares, in perpetual 8.875% series E cumulative redeemable preferreds after the market close on Thursday at par of $25.00.

The Konstantakopoulos family, majority shareholders of the Monaco-based owner of containerships for charter in the shipping industry, planned to purchase $7.5 million of the series E preferred stock at the public offering price.

The preferreds will be listed for trade on the New York Stock Exchange under the symbol “CMREPrE.”

Colony NorthStar Inc.’s series J and series I preferreds and Two Harbors Investment Corp.’s series A and series B preferreds lost footing early in Friday’s session.

Colony NorthStar’s perpetual 7.125% series J cumulative redeemable preferred stock was down 35 cents, or 1.49%, to $23.40 in early trading Friday.

Colony NorthStar’s perpetual 7.15% series I preferred stock was down 32 cents, or 1.35% to $23.67.

Two Harbors 8.125% series A cumulative redeemable preferred stock was down 40 cents, or 1.53%, to $25.93.

Two Harbors 7.625% series B cumulative redeemable preferred stock was down 26 cents, or 1.01%, to $24.98.

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