ARMOUR Residential REIT (NYSE:ARR) Stock Rating Upgraded by Wall Street Zen

ARMOUR Residential REIT (NYSE:ARR – Get Free Report) was upgraded by equities researchers at Wall Street Zen from a “strong sell” rating to a “sell” rating in a research note issued on Saturday, Wall Street Zen reports.

ARR has been the topic of a number of other research reports. Zacks Research raised ARMOUR Residential REIT from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 21st. B. Riley Financial dropped their price target on ARMOUR Residential REIT from $18.00 to $14.50 and set a “neutral” rating for the company in a research note on Friday, October 23rd. JonesTrading cut their price objective on ARMOUR Residential REIT from $19.00 to $15.25 and set a “buy” rating for the company in a report on Thursday, October 22nd. Finally, Weiss Ratings cut ARMOUR Residential REIT from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, October 23rd. Two research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, ARMOUR Residential REIT has a consensus rating of “Hold” and an average target price of $16.56.

Check Out Our Latest Analysis on ARMOUR Residential REIT

ARMOUR Residential REIT Price Performance

ARR stock opened at $12.60 on Friday. The firm has a 50 day simple moving average of $14.04 and a two-hundred day simple moving average of $16.36. The stock has a market cap of $1.87 billion, a PE ratio of -419.87 and a beta of 1.47. ARMOUR Residential REIT has a one year low of $12.02 and a one year high of $19.31.

ARMOUR Residential REIT (NYSE:ARR – Get Free Report) last posted its quarterly earnings data on Wednesday, October 21st. The real estate investment trust reported $0.71 earnings per share for the quarter, meeting the consensus estimate of $0.71. ARMOUR Residential REIT had a negative net margin of 5.09% and a positive return on equity of 15.90%. The firm had revenue of $121.70 million for the quarter, compared to analysts’ expectations of $119.84 million. On average, research analysts expect that ARMOUR Residential REIT will post 2.88 EPS for the current fiscal year.

Insider Transactions at ARMOUR Residential REIT

In other news, Chairman Daniel Staton sold 35,583 shares of the firm’s stock in a transaction dated 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 SEC, which is available through the SEC website. 0.19% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ARMOUR Residential REIT

Hedge funds and other institutional investors have recently modified their holdings of the stock. Fisher Asset Management LLC purchased a new stake in shares of ARMOUR Residential REIT in the 3rd quarter worth about $377,000. Russell Investments Group Ltd. boosted its stake in shares of ARMOUR Residential REIT by 1.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 70,171 shares of the real estate investment trust’s stock valued at $970,000 after purchasing an additional 1,112 shares in the last quarter. Maryland State Retirement & Pension System increased its position in shares of ARMOUR Residential REIT by 76.3% during the third quarter. Maryland State Retirement & Pension System now owns 31,817 shares of the real estate investment trust’s stock valued at $440,000 after buying an additional 13,775 shares during the period. Illinois Municipal Retirement Fund increased its position in shares of ARMOUR Residential REIT by 5.6% during the third quarter. Illinois Municipal Retirement Fund now owns 63,073 shares of the real estate investment trust’s stock valued at $872,000 after buying an additional 3,359 shares during the period. Finally, Fulcrum Asset Management LLP increased its position in shares of ARMOUR Residential REIT by 79.0% during the third quarter. Fulcrum Asset Management LLP now owns 22,758 shares of the real estate investment trust’s stock valued at $319,000 after buying an additional 10,046 shares during the period. Institutional investors own 54.17% of the company’s stock.

About ARMOUR Residential REIT

(Get Free Report)

ARMOUR Residential REIT, Inc is a real estate investment trust that invests primarily in residential mortgage-backed securities. Its portfolio generally consists of securities issued or guaranteed by U.S. government-sponsored enterprises, including Fannie Mae and Freddie Mac, or by U.S. government agencies such as Ginnie Mae.

The company invests in a range of agency mortgage securities, including fixed-rate and adjustable-rate mortgage pass-through securities, collateralized mortgage obligations, specified pools and to-be-announced securities.

Further Reading

Analyst Recommendations for ARMOUR Residential REIT (NYSE:ARR)

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