Verition Fund Management LLC Invests $460,000 in ARMOUR Residential REIT, Inc. (ARR) Stock

Verition Fund Management LLC purchased a new stake in shares of ARMOUR Residential REIT, Inc. (NYSE:ARR) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 18,380 shares of the real estate investment trust’s stock, valued at approximately $460,000.

A number of other hedge funds also recently made changes to their positions in ARR. Renaissance Technologies LLC raised its position in ARMOUR Residential REIT by 221.4% during the first quarter. Renaissance Technologies LLC now owns 547,318 shares of the real estate investment trust’s stock valued at $12,430,000 after acquiring an additional 377,037 shares in the last quarter. Acadian Asset Management LLC purchased a new position in ARMOUR Residential REIT during the second quarter valued at approximately $5,351,000. Goldman Sachs Group Inc. raised its position in ARMOUR Residential REIT by 211.5% during the second quarter. Goldman Sachs Group Inc. now owns 305,933 shares of the real estate investment trust’s stock valued at $7,648,000 after acquiring an additional 207,711 shares in the last quarter. Vanguard Group Inc. raised its position in ARMOUR Residential REIT by 7.0% during the first quarter. Vanguard Group Inc. now owns 3,076,733 shares of the real estate investment trust’s stock valued at $69,873,000 after acquiring an additional 200,754 shares in the last quarter. Finally, Jacobs Asset Management LLC purchased a new position in ARMOUR Residential REIT during the second quarter valued at approximately $5,000,000. Institutional investors own 46.07% of the company’s stock.

Several research analysts recently weighed in on the company. Zacks Investment Research cut ARMOUR Residential REIT from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. ValuEngine upgraded ARMOUR Residential REIT from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. Finally, BidaskClub upgraded ARMOUR Residential REIT from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 10th. Two equities research analysts have rated the stock with a hold rating and two have given a strong buy rating to the company’s stock. ARMOUR Residential REIT currently has a consensus rating of “Buy” and a consensus target price of $24.00.

TRADEMARK VIOLATION WARNING: “Verition Fund Management LLC Invests $460,000 in ARMOUR Residential REIT, Inc. (ARR) Stock” was first posted by Transcript Daily and is the property of of Transcript Daily. If you are viewing this article on another site, it was illegally stolen and reposted in violation of United States & international trademark and copyright laws. The original version of this article can be accessed at https://transcriptdaily.com/2017/10/20/verition-fund-management-llc-invests-460000-in-armour-residential-reit-inc-arr-stock.html.

Shares of ARMOUR Residential REIT, Inc. (NYSE:ARR) opened at 27.22 on Friday. ARMOUR Residential REIT, Inc. has a 52-week low of $20.29 and a 52-week high of $27.60. The stock has a market capitalization of $1.12 billion, a PE ratio of 3.58 and a beta of 0.77. The stock has a 50 day moving average price of $26.71 and a 200-day moving average price of $25.70.

ARMOUR Residential REIT (NYSE:ARR) last posted its quarterly earnings results on Wednesday, July 26th. The real estate investment trust reported $0.69 EPS for the quarter, beating the consensus estimate of $0.62 by $0.07. The business had revenue of $39.06 million during the quarter, compared to analysts’ expectations of $34.53 million. ARMOUR Residential REIT had a return on equity of 9.26% and a net margin of 114.11%. During the same period last year, the firm earned $0.63 EPS. On average, equities research analysts anticipate that ARMOUR Residential REIT, Inc. will post $2.68 EPS for the current fiscal year.

The firm also recently declared a monthly dividend, which will be paid on Friday, October 27th. Stockholders of record on Monday, October 16th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Friday, October 13th. This represents a $2.28 annualized dividend and a dividend yield of 8.38%. ARMOUR Residential REIT’s dividend payout ratio is currently 30.00%.

In other ARMOUR Residential REIT news, COO Mark Gruber purchased 2,000 shares of ARMOUR Residential REIT stock in a transaction dated Monday, July 31st. The stock was acquired at an average cost of $25.33 per share, with a total value of $50,660.00. Following the acquisition, the chief operating officer now directly owns 15,619 shares of the company’s stock, valued at $395,629.27. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 1.20% of the stock is owned by company insiders.

ARMOUR Residential REIT 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).

Want to see what other hedge funds are holding ARR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ARMOUR Residential REIT, Inc. (NYSE:ARR).

Institutional Ownership by Quarter for ARMOUR Residential REIT (NYSE:ARR)

Receive News & Ratings for ARMOUR Residential REIT Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ARMOUR Residential REIT Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply