ARMOUR Residential REIT, Inc. (NYSE:ARR – Get Free Report) shares hit a new 52-week low on Monday. The stock traded as low as $12.85 and last traded at $12.6670, with a volume of 752,831 shares traded. The stock had previously closed at $13.20.
Analysts Set New Price Targets
A number of equities analysts have recently commented on ARR shares. Weiss Ratings cut ARMOUR Residential REIT from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, August 19th. Zacks Research upgraded shares of ARMOUR Residential REIT from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 21st. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $18.50.
Read Our Latest Stock Report on ARR
ARMOUR Residential REIT Trading Down 3.7%
The stock has a 50-day moving average price of $15.21 and a two-hundred day moving average price of $16.39. The stock has a market cap of $1.80 billion, a price-to-earnings ratio of 3.41 and a beta of 1.42.
ARMOUR Residential REIT (NYSE:ARR – Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The real estate investment trust reported $0.72 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.72. The business had revenue of $113.29 million for the quarter, compared to analyst estimates of $111.98 million. ARMOUR Residential REIT had a return on equity of 15.10% and a net margin of 44.90%. Research analysts predict that ARMOUR Residential REIT, Inc. will post 2.93 earnings per share for the current fiscal year.
ARMOUR Residential REIT Dividend Announcement
The business also recently declared a monthly dividend, which will be paid on Thursday, October 29th. Investors of record on Thursday, October 15th will be issued a $0.24 dividend. This represents a $2.88 annualized dividend and a yield of 22.7%. The ex-dividend date of this dividend is Thursday, October 15th. ARMOUR Residential REIT’s payout ratio is presently 77.42%.
Insider Buying and Selling at ARMOUR Residential REIT
In other ARMOUR Residential REIT news, Chairman Daniel Staton sold 35,583 shares of the stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $15.86, for a total transaction of $564,346.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.19% of the stock is currently owned by company insiders.
Institutional Trading of ARMOUR Residential REIT
Several large investors have recently added to or reduced their stakes in ARR. Kovack Advisors Inc. grew its holdings in shares of ARMOUR Residential REIT by 2.9% in the second quarter. Kovack Advisors Inc. now owns 29,016 shares of the real estate investment trust’s stock valued at $501,000 after purchasing an additional 814 shares during the period. Allworth Financial LP raised its stake in ARMOUR Residential REIT by 16.8% during the second quarter. Allworth Financial LP now owns 7,593 shares of the real estate investment trust’s stock worth $133,000 after purchasing an additional 1,091 shares during the period. IFP Advisors Inc raised its stake in ARMOUR Residential REIT by 576.2% during the second quarter. IFP Advisors Inc now owns 1,420 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 1,210 shares during the period. GAMMA Investing LLC boosted its holdings in ARMOUR Residential REIT by 61.0% in the 2nd quarter. GAMMA Investing LLC now owns 3,454 shares of the real estate investment trust’s stock valued at $60,000 after purchasing an additional 1,309 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in shares of ARMOUR Residential REIT by 3.3% in the 1st quarter. The Manufacturers Life Insurance Company now owns 50,103 shares of the real estate investment trust’s stock valued at $836,000 after buying an additional 1,612 shares during the period. 54.17% of the stock is currently owned by hedge funds and other institutional investors.
About ARMOUR Residential REIT
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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