Kendall Capital Management Purchases 9,594 Shares of Costamare Inc. (NYSE:CMRE)

Kendall Capital Management grew its position in Costamare Inc. (NYSE:CMRE) by 4.1% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 245,094 shares of the shipping company’s stock after buying an additional 9,594 shares during the period. Costamare accounts for about 1.3% of Kendall Capital Management’s portfolio, making the stock its 18th largest position. Kendall Capital Management owned approximately 0.21% of Costamare worth $4,027,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Acadian Asset Management LLC bought a new stake in shares of Costamare in the 1st quarter valued at about $1,172,000. Russell Investments Group Ltd. boosted its stake in Costamare by 56,543.3% in the 1st quarter. Russell Investments Group Ltd. now owns 143,874 shares of the shipping company’s stock worth $1,633,000 after purchasing an additional 143,620 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Costamare in the 2nd quarter worth approximately $1,999,000. Bridgeway Capital Management LLC boosted its stake in Costamare by 16.2% in the 4th quarter. Bridgeway Capital Management LLC now owns 1,313,829 shares of the shipping company’s stock worth $13,677,000 after purchasing an additional 183,193 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in Costamare by 12.7% in the 4th quarter. Victory Capital Management Inc. now owns 13,252 shares of the shipping company’s stock worth $138,000 after purchasing an additional 1,498 shares in the last quarter. 58.08% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on CMRE shares. Stifel Nicolaus lifted their target price on shares of Costamare from $12.00 to $14.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. StockNews.com upgraded shares of Costamare from a “hold” rating to a “buy” rating in a research note on Friday, August 23rd. Finally, Jefferies Financial Group raised their price target on shares of Costamare from $12.00 to $13.00 and gave the stock a “hold” rating in a research report on Wednesday, July 31st.

Costamare Stock Performance

Shares of CMRE opened at $13.91 on Thursday. The stock has a 50 day moving average price of $14.09 and a 200 day moving average price of $13.62. The company has a quick ratio of 1.54, a current ratio of 1.61 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of 5.42 and a beta of 1.37. Costamare Inc. has a 52-week low of $8.54 and a 52-week high of $17.58.

Costamare (NYSE:CMRE) last issued its quarterly earnings results on Wednesday, July 31st. The shipping company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.05. The firm had revenue of $515.42 million during the quarter, compared to the consensus estimate of $380.41 million. Costamare had a return on equity of 13.63% and a net margin of 19.63%. Research analysts predict that Costamare Inc. will post 3.05 EPS for the current fiscal year.

Costamare Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, July 19th were given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date of this dividend was Friday, July 19th. Costamare’s dividend payout ratio is presently 17.83%.

Costamare Profile