ARMOUR Residential REIT, Inc. (NYSE:ARR) announced a monthly dividend on Thursday, October 26th, Wall Street Journal reports. Stockholders of record on Wednesday, November 15th will be paid a dividend of 0.19 per share by the real estate investment trust on Monday, November 27th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 9.42%. The ex-dividend date is Tuesday, November 14th.
ARMOUR Residential REIT has decreased its dividend by an average of 22.5% per year over the last three years and has raised its dividend every year for the last 2 years. ARMOUR Residential REIT has a dividend payout ratio of 84.8% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Research analysts expect ARMOUR Residential REIT to earn $2.39 per share next year, which means the company should continue to be able to cover its $2.28 annual dividend with an expected future payout ratio of 95.4%.
Shares of ARMOUR Residential REIT (NYSE ARR) traded down $0.10 during trading on Friday, hitting $24.21. 570,100 shares of the stock were exchanged, compared to its average volume of 599,269. The company has a market cap of $1,017.83, a P/E ratio of 8.74 and a beta of 0.73. ARMOUR Residential REIT has a 12 month low of $20.29 and a 12 month high of $27.60.
ARMOUR Residential REIT (NYSE:ARR) last released its quarterly earnings data on Wednesday, October 25th. The real estate investment trust reported $0.69 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.03. The business had revenue of $39.64 million during the quarter, compared to analysts’ expectations of $37.49 million. ARMOUR Residential REIT had a net margin of 76.46% and a return on equity of 9.39%. During the same period in the prior year, the company earned $0.68 EPS. equities research analysts forecast that ARMOUR Residential REIT will post 2.69 EPS for the current year.
ARR has been the subject of a number of research analyst reports. Zacks Investment Research upgraded shares of ARMOUR Residential REIT from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a research report on Tuesday, October 31st. ValuEngine upgraded shares of ARMOUR Residential REIT from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. Finally, BidaskClub upgraded shares of ARMOUR Residential REIT from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 10th.
In other ARMOUR Residential REIT news, COO Mark Gruber purchased 4,000 shares of the firm’s stock in a transaction on Monday, October 30th. The stock was purchased at an average cost of $25.38 per share, for a total transaction of $101,520.00. Following the transaction, the chief operating officer now owns 19,958 shares in the company, valued at approximately $506,534.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders acquired 4,700 shares of company stock valued at $119,411. Corporate insiders own 1.20% of the company’s stock.
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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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