ARMOUR Residential REIT, Inc. (NYSE:ARR – Get Free Report) has received a consensus rating of “Hold” from the five brokerages that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $18.50.
A number of research firms have recently commented on ARR. Weiss Ratings cut ARMOUR Residential REIT from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, August 19th. Zacks Research upgraded shares of ARMOUR Residential REIT from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 21st.
Read Our Latest Analysis on ARMOUR Residential REIT
ARMOUR Residential REIT Stock Down 0.6%
ARMOUR Residential REIT (NYSE:ARR – Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The real estate investment trust reported $0.72 EPS for the quarter, hitting analysts’ consensus estimates of $0.72. ARMOUR Residential REIT had a return on equity of 15.10% and a net margin of 44.90%.The business had revenue of $113.29 million for the quarter, compared to analyst estimates of $111.98 million. On average, research analysts expect that ARMOUR Residential REIT will post 2.93 earnings per share for the current year.
ARMOUR Residential REIT Dividend Announcement
The business also recently announced a monthly dividend, which will be paid on Thursday, October 29th. Shareholders of record on Thursday, October 15th will be paid a $0.24 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 21.3%. The ex-dividend date is Thursday, October 15th. ARMOUR Residential REIT’s payout ratio is presently 77.42%.
Insider Buying and Selling at ARMOUR Residential REIT
In other news, Chairman Daniel Staton sold 35,583 shares of the firm’s stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $15.86, for a total transaction of $564,346.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.19% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On ARMOUR Residential REIT
Institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp purchased a new position in ARMOUR Residential REIT during the 2nd quarter valued at about $13,757,000. State Street Corp increased its position in shares of ARMOUR Residential REIT by 15.0% during the second quarter. State Street Corp now owns 4,745,078 shares of the real estate investment trust’s stock valued at $82,802,000 after buying an additional 619,020 shares during the period. First Trust Advisors LP lifted its holdings in shares of ARMOUR Residential REIT by 234.6% in the first quarter. First Trust Advisors LP now owns 664,247 shares of the real estate investment trust’s stock worth $11,080,000 after buying an additional 465,733 shares in the last quarter. Envestnet Asset Management Inc. purchased a new stake in shares of ARMOUR Residential REIT in the second quarter worth about $6,536,000. Finally, Independent Financial Group LLC bought a new position in shares of ARMOUR Residential REIT in the first quarter valued at approximately $1,458,000. Hedge funds and other institutional investors own 54.17% of the company’s stock.
ARMOUR Residential REIT Company Profile
ARMOUR Residential REIT, Inc is a real estate investment trust that invests primarily in residential mortgage-backed securities (RMBS) issued or guaranteed by U.S. government agencies and government-sponsored enterprises, including Ginnie Mae, Fannie Mae and Freddie Mac. Its portfolio may include fixed-rate and adjustable-rate mortgage securities, as well as other investments related to the U.S. residential mortgage market.
The company seeks to generate income from its investments and manages interest-rate and prepayment risks through portfolio composition, financing arrangements and hedging strategies.
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