Costamare: Undervalued Cash Flow Machine With Secured Upside (NYSE:CMRE)

Core Thesis - The bullish thesis for Costamare Inc. (NYSE: CMRE) is based on five key ideas: charter renewals in the coming years, delivery of newbuilds, quarterly earnings movements, maintenance of dividends, and a focus on building a resilient, income-generating portfolio with long-term growth in mind [1]. Group 1: Charter Renewals and Newbuilds - Charter renewals are expected to occur over the next few years, which may provide stable revenue streams for the company [1]. - The delivery of newbuilds is anticipated to take place over the next couple of years, potentially enhancing operational capacity and revenue generation [1]. Group 2: Earnings and Dividends - Quarterly earnings movements are a critical factor in assessing the company's financial health and investment potential [1]. - The ability to maintain dividends is emphasized, indicating a focus on returning value to shareholders while ensuring financial stability [1]. Group 3: Investment Strategy - The investment approach is primarily long-only, blending dividend-paying equities, REITs, and other income strategies with selective growth opportunities [1]. - There is a strong emphasis on disciplined, fundamentals-driven investing, prioritizing capital preservation while compounding returns over time [1].