ARMOUR Residential REIT, Inc. (NYSE:ARR) announced a monthly dividend on Wednesday, July 24th, Zacks reports. Investors of record on Thursday, August 15th will be given a dividend of 0.17 per share by the real estate investment trust on Tuesday, August 27th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 11.66%. The ex-dividend date of this dividend is Wednesday, August 14th.
ARMOUR Residential REIT has decreased its dividend payment by an average of 16.3% per year over the last three years. ARMOUR Residential REIT has a dividend payout ratio of 83.3% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities research analysts expect ARMOUR Residential REIT to earn $2.15 per share next year, which means the company should continue to be able to cover its $2.04 annual dividend with an expected future payout ratio of 94.9%.
ARR stock opened at $17.50 on Monday. The firm has a market capitalization of $1.04 billion, a PE ratio of 7.00 and a beta of 0.67. The stock’s 50 day moving average is $18.31. ARMOUR Residential REIT has a 52 week low of $17.03 and a 52 week high of $24.07.
ARMOUR Residential REIT (NYSE:ARR) last posted its quarterly earnings results on Wednesday, July 24th. The real estate investment trust reported $0.63 EPS for the quarter, topping the consensus estimate of $0.58 by $0.05. ARMOUR Residential REIT had a negative net margin of 124.06% and a positive return on equity of 10.62%. The business had revenue of $40.86 million during the quarter. Equities research analysts forecast that ARMOUR Residential REIT will post 2.3 EPS for the current fiscal year.
In related news, CEO Scott Ulm acquired 80,000 shares of the stock in a transaction dated Wednesday, May 22nd. The stock was bought at an average cost of $17.93 per share, for a total transaction of $1,434,400.00. Following the completion of the transaction, the chief executive officer now directly owns 120,764 shares of the company’s stock, valued at $2,165,298.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO James R. Mountain acquired 3,000 shares of the stock in a transaction dated Wednesday, May 15th. The shares were bought at an average price of $18.55 per share, with a total value of $55,650.00. Following the completion of the transaction, the chief financial officer now directly owns 44,500 shares of the company’s stock, valued at $825,475. The disclosure for this purchase can be found here. 1.30% of the stock is currently owned by corporate insiders.
A number of equities analysts have recently commented on the stock. Zacks Investment Research lowered shares of ARMOUR Residential REIT from a “hold” rating to a “sell” rating in a research report on Wednesday, July 31st. Barclays set a $18.00 price target on shares of ARMOUR Residential REIT and gave the company a “sell” rating in a research report on Friday, July 26th. Three investment analysts have rated the stock with a sell rating and one has assigned a hold rating to the company’s stock. ARMOUR Residential REIT currently has a consensus rating of “Sell” and an average target price of $20.33.
ARMOUR Residential REIT Company Profile
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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