Lifestyle Asset Management Inc. Purchases Shares of 21,097 Costamare Inc. (NYSE:CMRE)

Lifestyle Asset Management Inc. acquired a new position in Costamare Inc. (NYSE:CMRE) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 21,097 shares of the shipping company’s stock, valued at approximately $332,000.

Several other large investors have also recently modified their holdings of CMRE. nVerses Capital LLC raised its holdings in shares of Costamare by 1,700.0% in the third quarter. nVerses Capital LLC now owns 1,800 shares of the shipping company’s stock worth $28,000 after buying an additional 1,700 shares during the last quarter. CWM LLC raised its stake in Costamare by 53.6% in the 2nd quarter. CWM LLC now owns 4,302 shares of the shipping company’s stock worth $71,000 after acquiring an additional 1,502 shares during the last quarter. Redwood Wealth Management Group LLC acquired a new stake in Costamare during the 2nd quarter worth about $80,000. Blue Trust Inc. grew its stake in Costamare by 2,540.4% during the 3rd quarter. Blue Trust Inc. now owns 7,393 shares of the shipping company’s stock valued at $121,000 after purchasing an additional 7,113 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in shares of Costamare in the second quarter worth about $185,000. Institutional investors own 58.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on CMRE shares. StockNews.com lowered Costamare from a “buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Stifel Nicolaus boosted their target price on shares of Costamare from $12.00 to $14.00 and gave the company a “hold” rating in a research report on Wednesday, July 24th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $13.00 price target on shares of Costamare in a report on Friday, November 1st.

Costamare Price Performance

NYSE:CMRE opened at $14.55 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.65 and a quick ratio of 1.54. The company has a 50 day moving average price of $14.18 and a 200-day moving average price of $14.41. Costamare Inc. has a 1-year low of $8.61 and a 1-year high of $17.58. The firm has a market cap of $1.71 billion, a price-to-earnings ratio of 4.83 and a beta of 1.37.

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, topping analysts’ consensus estimates of $0.64 by $0.04. Costamare had a net margin of 19.11% and a return on equity of 14.28%. The business had revenue of $544.64 million during the quarter, compared to the consensus estimate of $434.13 million. During the same quarter in the prior year, the firm posted $0.46 earnings per share. Equities research analysts forecast that Costamare Inc. will post 2.82 EPS for the current year.

Costamare Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 6th. Stockholders of record on Monday, October 21st were given a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date was Monday, October 21st. Costamare’s dividend payout ratio (DPR) is presently 15.28%.

Costamare Profile