ARMOUR Residential REIT (NYSE:ARR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Monday.
According to Zacks, “ARMOUR Residential REIT, Inc. invests primarily in residential mortgage-backed securities issued or guaranteed by a United States Government-chartered entity. “
ARMOUR Residential REIT (NYSE:ARR) traded down $0.25 during mid-day trading on Monday, reaching $25.72. 368,200 shares of the company traded hands, compared to its average volume of 584,735. The stock has a market cap of $1,090.00, a P/E ratio of 5.08 and a beta of 0.75. ARMOUR Residential REIT has a 52 week low of $20.81 and a 52 week high of $27.60.
ARMOUR Residential REIT (NYSE:ARR) last posted its earnings results on Wednesday, October 25th. The real estate investment trust reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.03. The business had revenue of $39.64 million for the quarter, compared to the consensus estimate 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 quarter last year, the firm posted $0.68 EPS. analysts expect that ARMOUR Residential REIT will post 2.69 EPS for the current year.
In other ARMOUR Residential REIT news, COO Mark Gruber purchased 4,000 shares of the business’s stock in a transaction on Monday, October 30th. The shares were bought at an average cost of $25.38 per share, for a total transaction of $101,520.00. Following the completion of the purchase, the chief operating officer now directly owns 19,958 shares of the company’s stock, valued at $506,534.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.50% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. boosted its holdings in shares of ARMOUR Residential REIT by 5.8% in the second quarter. BlackRock Inc. now owns 3,626,651 shares of the real estate investment trust’s stock valued at $90,666,000 after acquiring an additional 198,425 shares during the period. Vanguard Group Inc. increased its holdings in shares of ARMOUR Residential REIT by 4.7% in the 2nd quarter. Vanguard Group Inc. now owns 3,220,482 shares of the real estate investment trust’s stock valued at $80,512,000 after acquiring an additional 143,749 shares during the last quarter. Global X MANAGEMENT CO LLC increased its holdings in shares of ARMOUR Residential REIT by 5.6% in the 3rd quarter. Global X MANAGEMENT CO LLC now owns 889,951 shares of the real estate investment trust’s stock valued at $23,940,000 after acquiring an additional 47,313 shares during the last quarter. State Street Corp increased its holdings in shares of ARMOUR Residential REIT by 4.5% in the 2nd quarter. State Street Corp now owns 819,433 shares of the real estate investment trust’s stock valued at $20,483,000 after acquiring an additional 35,592 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of ARMOUR Residential REIT by 2.3% in the 2nd quarter. Renaissance Technologies LLC now owns 560,121 shares of the real estate investment trust’s stock valued at $14,003,000 after acquiring an additional 12,803 shares during the last quarter. 58.19% of the stock is owned by institutional investors and hedge funds.
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About ARMOUR Residential REIT
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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