Costamare Inc. (NYSE:CMRE) Stock Position Lifted by Horizon Kinetics Asset Management LLC

Horizon Kinetics Asset Management LLC boosted its stake in Costamare Inc. (NYSE:CMRE) by 41.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 323,000 shares of the shipping company’s stock after buying an additional 94,900 shares during the quarter. Horizon Kinetics Asset Management LLC owned approximately 0.27% of Costamare worth $5,078,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. increased its stake in shares of Costamare by 3.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 433,995 shares of the shipping company’s stock worth $6,822,000 after acquiring an additional 15,983 shares during the last quarter. Navellier & Associates Inc. acquired a new position in Costamare in the 3rd quarter worth about $408,000. Foundry Partners LLC purchased a new stake in shares of Costamare during the 3rd quarter worth about $4,032,000. Intech Investment Management LLC purchased a new stake in shares of Costamare during the 3rd quarter worth about $195,000. Finally, Gladius Capital Management LP acquired a new stake in shares of Costamare during the 3rd quarter valued at about $35,000. Institutional investors and hedge funds own 58.08% of the company’s stock.

Costamare Price Performance

Shares of NYSE:CMRE opened at $14.29 on Monday. The stock has a market capitalization of $1.68 billion, a P/E ratio of 4.75 and a beta of 1.37. The business has a 50-day moving average of $14.37 and a two-hundred day moving average of $14.62. Costamare Inc. has a fifty-two week low of $9.16 and a fifty-two week high of $17.58. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.65 and a quick ratio of 1.56.

Costamare (NYSE:CMRE) last issued its quarterly earnings data on Friday, November 1st. The shipping company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. Costamare had a return on equity of 14.28% and a net margin of 19.11%. The business had revenue of $544.64 million for the quarter, compared to the consensus estimate of $434.13 million. During the same period last year, the business earned $0.46 EPS. On average, equities research analysts predict that Costamare Inc. will post 2.83 EPS for the current fiscal year.

Costamare Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 6th. Investors of record on Monday, October 21st were issued a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 3.22%. The ex-dividend date of this dividend was Monday, October 21st. Costamare’s dividend payout ratio is currently 15.28%.

Wall Street Analyst Weigh In

CMRE has been the topic of a number of research reports. Jefferies Financial Group restated a “hold” rating and issued a $13.00 price objective on shares of Costamare in a report on Friday, November 1st. StockNews.com lowered shares of Costamare from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd.

Costamare Company Profile