ARMOUR Residential REIT (NYSE:ARR) Lowered to Strong Sell Rating by Zacks Research

ARMOUR Residential REIT (NYSE:ARRGet Free Report) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Monday,Zacks.com reports.

Other analysts have also issued reports about the stock. JonesTrading reduced their price target on shares of ARMOUR Residential REIT from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, April 23rd. UBS Group reaffirmed a “neutral” rating and set a $18.00 price objective (up from $17.50) on shares of ARMOUR Residential REIT in a research report on Friday, April 24th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of ARMOUR Residential REIT in a research note on Wednesday, June 17th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $18.50.

Read Our Latest Stock Report on ARMOUR Residential REIT

ARMOUR Residential REIT Trading Up 1.5%

Shares of ARMOUR Residential REIT stock opened at $16.79 on Monday. The stock has a 50-day moving average price of $17.15 and a 200 day moving average price of $17.43. The company has a market cap of $2.08 billion, a P/E ratio of 8.74 and a beta of 1.36. ARMOUR Residential REIT has a 1 year low of $13.98 and a 1 year high of $19.31.

ARMOUR Residential REIT (NYSE:ARRGet Free Report) last released its earnings results on Wednesday, April 22nd. The real estate investment trust reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.03. ARMOUR Residential REIT had a return on equity of 15.39% and a net margin of 27.43%.The company had revenue of $70.71 million for the quarter, compared to analysts’ expectations of $155.79 million. On average, equities analysts forecast that ARMOUR Residential REIT will post 2.82 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ARMOUR Residential REIT

Hedge funds and other institutional investors have recently made changes to their positions in the company. Royal Bank of Canada grew its stake in shares of ARMOUR Residential REIT by 50.3% in the 1st quarter. Royal Bank of Canada now owns 122,055 shares of the real estate investment trust’s stock valued at $2,088,000 after buying an additional 40,860 shares in the last quarter. AQR Capital Management LLC raised its position in ARMOUR Residential REIT by 26.1% during the first quarter. AQR Capital Management LLC now owns 14,393 shares of the real estate investment trust’s stock valued at $246,000 after acquiring an additional 2,980 shares in the last quarter. Goldman Sachs Group Inc. raised its position in ARMOUR Residential REIT by 38.2% during the first quarter. Goldman Sachs Group Inc. now owns 807,027 shares of the real estate investment trust’s stock valued at $13,800,000 after acquiring an additional 222,923 shares in the last quarter. Intech Investment Management LLC lifted its stake in ARMOUR Residential REIT by 189.5% in the first quarter. Intech Investment Management LLC now owns 92,237 shares of the real estate investment trust’s stock valued at $1,577,000 after acquiring an additional 60,371 shares during the last quarter. Finally, Strs Ohio acquired a new stake in ARMOUR Residential REIT in the first quarter valued at approximately $181,000. 54.17% of the stock is owned by hedge funds and other institutional investors.

ARMOUR Residential REIT Company Profile

(Get Free Report)

ARMOUR Residential REIT (NYSE:ARR) is a mortgage real estate investment trust that was formed in 2008 to acquire and manage a portfolio of residential mortgage-backed securities (RMBS). The company’s investments are primarily agency-sponsored and agency-guaranteed RMBS issued by U.S. government-sponsored enterprises, along with credit risk transfer securities and select non-agency residential and multifamily RMBS. By focusing on high-quality mortgage assets, ARMOUR Residential REIT seeks to generate stable income and preserve capital through diversified exposure to the U.S.

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Analyst Recommendations for ARMOUR Residential REIT (NYSE:ARR)

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