ARMOUR Residential REIT (NYSE:ARR – Get Free Report) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.
A number of other research firms have also issued reports on ARR. UBS Group reaffirmed a “neutral” rating and set a $18.00 target price (up from $17.50) on shares of ARMOUR Residential REIT in a report on Friday, April 24th. Weiss Ratings reissued a “sell (d+)” rating on shares of ARMOUR Residential REIT in a report on Wednesday, June 17th. Finally, JonesTrading cut 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 report on Thursday, April 23rd. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $18.50.
Get Our Latest Stock Analysis on ARMOUR Residential REIT
ARMOUR Residential REIT Stock Performance
ARMOUR Residential REIT (NYSE:ARR – Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The real estate investment trust reported $0.72 EPS for the quarter, hitting analysts’ consensus estimates of $0.72. The company had revenue of $113.29 million for the quarter, compared to the consensus estimate of $111.98 million. ARMOUR Residential REIT had a return on equity of 15.39% and a net margin of 27.43%. On average, research analysts predict that ARMOUR Residential REIT will post 2.82 earnings per share for the current fiscal year.
Institutional Investors Weigh In On ARMOUR Residential REIT
Large investors have recently modified their holdings of the stock. Royal Bank of Canada raised its position in shares of ARMOUR Residential REIT by 50.3% during the first quarter. Royal Bank of Canada now owns 122,055 shares of the real estate investment trust’s stock worth $2,088,000 after purchasing an additional 40,860 shares during the period. AQR Capital Management LLC boosted its position in shares of ARMOUR Residential REIT by 26.1% in the 1st quarter. AQR Capital Management LLC now owns 14,393 shares of the real estate investment trust’s stock valued at $246,000 after purchasing an additional 2,980 shares during the period. Goldman Sachs Group Inc. increased its stake in ARMOUR Residential REIT by 38.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 807,027 shares of the real estate investment trust’s stock worth $13,800,000 after purchasing an additional 222,923 shares in the last quarter. Intech Investment Management LLC increased its stake in ARMOUR Residential REIT by 189.5% in the 1st quarter. Intech Investment Management LLC now owns 92,237 shares of the real estate investment trust’s stock worth $1,577,000 after purchasing an additional 60,371 shares in the last quarter. Finally, Strs Ohio acquired a new stake in ARMOUR Residential REIT during the 1st quarter worth about $181,000. 54.17% of the stock is owned by institutional investors.
About ARMOUR Residential REIT
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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