Zacks Investment Research Downgrades ARMOUR Residential REIT (ARR) to Hold

ARMOUR Residential REIT (NYSE:ARR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

According to Zacks, “ARMOUR Residential REIT, Inc. invests primarily in residential mortgage-backed securities issued or guaranteed by a United States Government-chartered entity. “

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Shares of ARR opened at $23.51 on Friday. ARMOUR Residential REIT has a 52-week low of $21.40 and a 52-week high of $27.60. The firm has a market capitalization of $981.61, a price-to-earnings ratio of 8.58 and a beta of 0.53.

ARMOUR Residential REIT (NYSE:ARR) last issued its quarterly earnings data on Tuesday, February 13th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.03. ARMOUR Residential REIT had a return on equity of 12.51% and a net margin of 65.90%. During the same quarter in the prior year, the business posted $0.71 earnings per share. sell-side analysts anticipate that ARMOUR Residential REIT will post 2.75 earnings per share for the current fiscal year.

In other ARMOUR Residential REIT news, COO Mark Gruber acquired 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was purchased at an average cost of $22.70 per share, with a total value of $45,400.00. Following the transaction, the chief operating officer now owns 22,300 shares of the company’s stock, valued at $506,210. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Jeffrey J. Zimmer acquired 6,500 shares of the business’s stock in a transaction that occurred on Friday, March 9th. The shares were acquired at an average cost of $22.52 per share, with a total value of $146,380.00. The disclosure for this purchase can be found here. Insiders have purchased a total of 12,500 shares of company stock valued at $283,740 over the last three months. Corporate insiders own 1.20% of the company’s stock.

Several large investors have recently modified their holdings of ARR. LSV Asset Management increased its position in shares of ARMOUR Residential REIT by 224.6% during the 4th quarter. LSV Asset Management now owns 578,697 shares of the real estate investment trust’s stock worth $14,884,000 after purchasing an additional 400,426 shares during the last quarter. First Trust Advisors LP acquired a new stake in shares of ARMOUR Residential REIT during the 4th quarter worth about $9,879,000. JPMorgan Chase & Co. increased its position in shares of ARMOUR Residential REIT by 30,665.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 378,411 shares of the real estate investment trust’s stock worth $10,141,000 after purchasing an additional 377,181 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of ARMOUR Residential REIT by 450.5% during the 3rd quarter. Ameriprise Financial Inc. now owns 409,897 shares of the real estate investment trust’s stock worth $11,027,000 after purchasing an additional 335,434 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of ARMOUR Residential REIT by 170.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 502,226 shares of the real estate investment trust’s stock worth $13,511,000 after purchasing an additional 316,291 shares during the last quarter. 60.22% of the stock is owned by hedge funds and other institutional investors.

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About ARMOUR Residential REIT

ARMOUR Residential REIT, Inc invests in residential mortgage backed securities in the United States. The company is managed by ARMOUR Capital Management LP. Its securities portfolio primarily consists of the United States Government-sponsored entity's (GSE) and the Government National Mortgage Administration's issued or guaranteed securities backed by fixed rate, hybrid adjustable rate, and adjustable rate home loans, as well as unsecured notes and bonds issued by the GSE and the United States treasuries; and money market instruments.

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