Costamare said on April 3, 2023 that its board of directors declared a regular
quarterly dividend of $0.12 per share ($0.46 annualized).
Previously, the company paid $0.12 per share.
Shares must be purchased before the ex-div date of April 18, 2023 to qualify for the dividend.
Shareholders of record as of April 19, 2023
will receive the payment on May 5, 2023.
At the current share price of $9.22 / share,
the stock’s dividend yield is 4.99%.
Looking back five years and taking a sample every week, the average dividend yield has been
5.53%,
the lowest has been 2.60%,
and the highest has been 11.24%.
The standard deviation of yields is 1.80 (n=237).
The current dividend yield is
0.30 standard deviations
below
the historical average.
Additionally, the company’s dividend payout ratio is 0.10.
The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0)
means 100% of the company’s income is paid in a dividend.
A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a
healthy situation.
Companies with few growth prospects are expected to pay out most of their income in dividends, which typically
means a payout ratio between 0.5 and 1.0.
Companies with good growth prospects are expected to retain some earnings in order to invest
in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company’s 3-Year dividend growth rate is 0.15%,
demonstrating that it has increased its dividend over time.
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Analyst Price Forecast Suggests 43.82% Upside
As of March 30, 2023,
the average one-year price target for Costamare is $13.26.
The forecasts range from a low of $11.11 to a high of $15.75.
The average price target represents an increase of 43.82% from its latest reported closing price of $9.22.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Costamare
is $1,115MM, an increase of 0.10%.
The projected annual non-GAAP EPS
is $3.63.
What is the Fund Sentiment?
There are 295 funds or institutions reporting positions in Costamare.
This is a decrease
of
1
owner(s) or 0.34% in the last quarter.
Average portfolio weight of all funds dedicated to CMRE is 0.07%,
an increase
of 19.80%.
Total shares owned by institutions increased
in the last three months by 2.23% to 33,922K shares.
The put/call ratio of CMRE is 0.16, indicating a
bullish
outlook.
What are Large Shareholders Doing?
Renaissance Technologies
holds 2,207K shares
representing 1.81% ownership of the company.
In it’s prior filing, the firm reported owning 2,559K shares, representing
a decrease
of 15.96%.
The firm
decreased
its portfolio allocation in CMRE by 13.52% over the last quarter.
DFSVX – U.s. Small Cap Value Portfolio – Institutional Class
holds 1,973K shares
representing 1.62% ownership of the company.
In it’s prior filing, the firm reported owning 1,854K shares, representing
an increase
of 6.00%.
The firm
increased
its portfolio allocation in CMRE by 11.20% over the last quarter.
Goldman Sachs Group
holds 1,427K shares
representing 1.17% ownership of the company.
In it’s prior filing, the firm reported owning 1,303K shares, representing
an increase
of 8.66%.
The firm
increased
its portfolio allocation in CMRE by 9.90% over the last quarter.
IWM – iShares Russell 2000 ETF
holds 1,225K shares
representing 1.01% ownership of the company.
In it’s prior filing, the firm reported owning 1,150K shares, representing
an increase
of 6.16%.
The firm
increased
its portfolio allocation in CMRE by 0.06% over the last quarter.
DFFVX – U.S. Targeted Value Portfolio – Institutional Class
holds 1,148K shares
representing 0.94% ownership of the company.
In it’s prior filing, the firm reported owning 1,100K shares, representing
an increase
of 4.22%.
The firm
increased
its portfolio allocation in CMRE by 4.13% over the last quarter.
Costamare Background Information
(This description is provided by the company.)
Costamare Inc. is a Greek and Marshall Islands corporation and one of the leading owners and providers of containerships for charter. Its headquarters are in Athens, Greece.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
