Costamare Inc. $CMRE Stock Position Reduced by Kendall Capital Management

Key Points

• Kendall Capital Management reduced its stake in Costamare Inc. by 8.5%, owning 231,889 shares after selling 21,520 shares in the second quarter.
• Costamare recently reported $0.77 earnings per share, surpassing analysts' estimates of $0.48, along with a quarterly revenue of $211.20 million.
• The company announced a quarterly dividend of $0.115 per share, yielding approximately 3.7%, with a dividend payout ratio of 19.49%.

Kendall Capital Management cut its stake in shares of Costamare Inc. (NYSE:CMRE - Free Report) by 8.5% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 231,889 shares of the shipping company's stock after selling 21,520 shares during the period. Kendall Capital Management owned about 0.19% of Costamare worth $2,113,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of CMRE. Quarry LP boosted its holdings in shares of Costamare by 21,575.0% during the 1st quarter. Quarry LP now owns 3,468 shares of the shipping company's stock worth $34,000 after buying an additional 3,452 shares during the period. New Age Alpha Advisors LLC boosted its holdings in shares of Costamare by 89.4% during the 1st quarter. New Age Alpha Advisors LLC now owns 7,393 shares of the shipping company's stock worth $73,000 after buying an additional 3,489 shares during the period. Ballentine Partners LLC bought a new stake in Costamare in the 2nd quarter valued at $128,000. Aigen Investment Management LP bought a new stake in Costamare in the 1st quarter valued at $150,000. Finally, ProShare Advisors LLC bought a new stake in Costamare in the 4th quarter valued at $155,000. Institutional investors and hedge funds own 58.08% of the company's stock.

Costamare Trading Down 1.7%

Shares of CMRE stock opened at $12.50 on Friday. Costamare Inc. has a 52-week low of $6.63 and a 52-week high of $15.96. The stock has a market cap of $1.50 billion, a price-to-earnings ratio of 5.30 and a beta of 1.29. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.64 and a current ratio of 1.68. The firm has a fifty day moving average of $11.32 and a 200-day moving average of $9.91.

Costamare (NYSE:CMRE - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The shipping company reported $0.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.48 by $0.29. Costamare had a net margin of 17.10% and a return on equity of 13.67%. The company had revenue of $211.20 million during the quarter, compared to analysts' expectations of $209.72 million. During the same quarter in the prior year, the company posted $0.76 EPS. On average, equities research analysts forecast that Costamare Inc. will post 2.52 earnings per share for the current fiscal year.

Costamare Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 6th. Investors of record on Monday, July 21st were given a dividend of $0.115 per share. The ex-dividend date was Monday, July 21st. This represents a $0.46 dividend on an annualized basis and a dividend yield of 3.7%. Costamare's dividend payout ratio (DPR) is 19.49%.

Wall Street Analyst Weigh In

Separately, Zacks Research raised shares of Costamare from a "strong sell" rating to a "strong-buy" rating in a report on Monday, September 22nd. One analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $13.00.

Costamare Company Profile

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