ARMOUR Residential REIT (NYSE:ARR) Given New $14.50 Price Target at B. Riley Financial

ARMOUR Residential REIT (NYSE:ARR) had its price target cut by research analysts at B. Riley Financial from $18.00 to $14.50 in a note issued to investors on Friday, Benzinga reports. The firm presently has a “neutral” rating on the real estate investment trust’s stock. B. Riley Financial‘s target price indicates a potential upside of 14.40% from the company’s current price.

Several other research firms also recently weighed in on ARR. Zacks Research raised ARMOUR Residential REIT from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 21st. Weiss Ratings downgraded shares of ARMOUR Residential REIT from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, August 19th. Finally, JonesTrading dropped their price objective on shares of ARMOUR Residential REIT from $19.00 to $15.25 and set a “buy” rating on the stock in a report on Thursday. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, ARMOUR Residential REIT has a consensus rating of “Hold” and an average price target of $16.56.

ARMOUR Residential REIT Stock Performance

ARMOUR Residential REIT stock opened at $12.68 on Friday. The stock has a 50-day simple moving average of $14.88 and a 200 day simple moving average of $16.26. The stock has a market capitalization of $1.79 billion, a P/E ratio of 4.42 and a beta of 1.42. ARMOUR Residential REIT has a 52 week low of $12.27 and a 52 week high of $19.31.

ARMOUR Residential REIT (NYSE:ARR) last announced its earnings results on Wednesday, October 21st. The real estate investment trust reported $0.71 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.71. The company had revenue of $121.70 million for the quarter, compared to analyst estimates of $119.84 million. ARMOUR Residential REIT had a positive return on equity of 15.82% and a negative net margin of 5.09%. Research analysts forecast that ARMOUR Residential REIT will post 2.93 earnings per share for the current year.

Insiders Place Their Bets

In related news, Chairman Daniel Staton sold 35,583 shares of ARMOUR Residential REIT stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $15.86, for a total value of $564,346.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On ARMOUR Residential REIT

Institutional investors have recently added to or reduced their stakes in the stock. State Street Corp grew its holdings in ARMOUR Residential REIT by 15.0% during the 2nd quarter. State Street Corp now owns 4,745,078 shares of the real estate investment trust’s stock valued at $82,802,000 after buying an additional 619,020 shares in the last quarter. Bank of New York Mellon Corp bought a new position in shares of ARMOUR Residential REIT during the 2nd quarter valued at approximately $13,757,000. First Trust Advisors LP increased its position in ARMOUR Residential REIT by 234.6% in the first quarter. First Trust Advisors LP now owns 664,247 shares of the real estate investment trust’s stock worth $11,080,000 after purchasing an additional 465,733 shares during the last quarter. Principal Financial Group Inc. increased its position in ARMOUR Residential REIT by 2.0% in the first quarter. Principal Financial Group Inc. now owns 543,935 shares of the real estate investment trust’s stock worth $9,073,000 after purchasing an additional 10,592 shares during the last quarter. Finally, Ascentis Wealth Management LLC increased its position in ARMOUR Residential REIT by 11.3% in the second quarter. Ascentis Wealth Management LLC now owns 395,000 shares of the real estate investment trust’s stock worth $6,892,750 after purchasing an additional 40,000 shares during the last quarter. 54.17% of the stock is owned by hedge funds and other institutional investors.

ARMOUR Residential REIT Company Profile

ARMOUR Residential REIT, Inc is a real estate investment trust that invests primarily in residential mortgage-backed securities. Its portfolio generally consists of securities issued or guaranteed by U.S. government-sponsored enterprises, including Fannie Mae and Freddie Mac, or by U.S. government agencies such as Ginnie Mae.

The company invests in a range of agency mortgage securities, including fixed-rate and adjustable-rate mortgage pass-through securities, collateralized mortgage obligations, specified pools and to-be-announced securities.