Zacks Investment Research cut shares of ARMOUR Residential REIT, Inc. (NYSE:ARR) from a strong-buy rating to a hold rating in a research report released on Tuesday, October 17th.
According to Zacks, “ARMOUR Residential REIT, Inc. invests primarily in residential mortgage-backed securities issued or guaranteed by a United States Government-chartered entity. “
A number of other equities analysts also recently commented on ARR. BidaskClub upgraded shares of ARMOUR Residential REIT from a buy rating to a strong-buy rating in a research note on Thursday, August 10th. ValuEngine upgraded shares of ARMOUR Residential REIT from a buy rating to a strong-buy rating in a research note on Friday, September 1st. Two investment analysts have rated the stock with a hold rating and two have assigned a strong buy rating to the stock. The company presently has an average rating of Buy and an average price target of $24.00.
ARMOUR Residential REIT (NYSE ARR) opened at 25.44 on Tuesday. The company’s 50-day moving average price is $26.74 and its 200-day moving average price is $25.82. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of 3.35 and a beta of 0.77. ARMOUR Residential REIT has a one year low of $20.29 and a one year high of $27.60.
ARMOUR Residential REIT (NYSE:ARR) last posted its quarterly earnings data on Wednesday, October 25th. The real estate investment trust reported $0.69 EPS for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.03. ARMOUR Residential REIT had a net margin of 114.11% and a return on equity of 9.26%. During the same quarter in the prior year, the business posted $0.68 earnings per share. On average, analysts anticipate that ARMOUR Residential REIT will post $2.68 EPS for the current year.
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The company also recently announced a monthly dividend, which will be paid on Monday, November 27th. Investors of record on Wednesday, November 15th will be paid a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $2.28 annualized dividend and a yield of 8.96%. ARMOUR Residential REIT’s dividend payout ratio (DPR) is currently 30.00%.
In other news, COO Mark Gruber bought 2,000 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The stock was acquired at an average cost of $25.33 per share, for a total transaction of $50,660.00. Following the purchase, the chief operating officer now owns 15,619 shares of the company’s stock, valued at approximately $395,629.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.20% of the company’s stock.
Hedge funds have recently modified their holdings of the business. IFP Advisors Inc lifted its position in ARMOUR Residential REIT by 1.1% during the second quarter. IFP Advisors Inc now owns 6,484 shares of the real estate investment trust’s stock worth $162,000 after acquiring an additional 69 shares during the last quarter. BNP Paribas Arbitrage SA lifted its position in ARMOUR Residential REIT by 136.8% during the second quarter. BNP Paribas Arbitrage SA now owns 7,092 shares of the real estate investment trust’s stock worth $177,000 after acquiring an additional 4,097 shares during the last quarter. OMERS ADMINISTRATION Corp acquired a new stake in ARMOUR Residential REIT during the second quarter worth approximately $212,000. ETRADE Capital Management LLC lifted its position in ARMOUR Residential REIT by 4.1% during the second quarter. ETRADE Capital Management LLC now owns 9,451 shares of the real estate investment trust’s stock worth $236,000 after acquiring an additional 373 shares during the last quarter. Finally, Sei Investments Co. lifted its position in ARMOUR Residential REIT by 197.2% during the second quarter. Sei Investments Co. now owns 10,696 shares of the real estate investment trust’s stock worth $268,000 after acquiring an additional 7,097 shares during the last quarter. Hedge funds and other institutional investors own 46.10% of the company’s stock.
ARMOUR Residential REIT Company Profile
ARMOUR Residential REIT, Inc is a real estate investment trust. The Company invests in and manages a leveraged portfolio of mortgage-backed securities (MBS) and mortgage loans. The Company invests in residential mortgage backed securities issued or guaranteed by a United States Government-sponsored enterprise (GSE), such as the Federal National Mortgage Association or the Federal Home Loan Mortgage Corporation, or a government agency, such as the Government National Mortgage Association (collectively, Agency Securities).
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