ARMOUR Residential REIT (NYSE:ARR) Issues Earnings Results

ARMOUR Residential REIT (NYSE:ARR) released its quarterly earnings results on Wednesday. The real estate investment trust reported $0.72 earnings per share for the quarter, meeting the consensus estimate of $0.72, Zacks reports. The firm had revenue of $113.29 million for the quarter, compared to analysts’ expectations of $111.98 million. ARMOUR Residential REIT had a return on equity of 15.67% and a net margin of 44.90%.

ARMOUR Residential REIT Stock Performance

Shares of ARR stock opened at $16.15 on Friday. ARMOUR Residential REIT has a 52-week low of $13.98 and a 52-week high of $19.31. The firm has a market capitalization of $2.00 billion, a PE ratio of 4.34 and a beta of 1.36. The stock has a fifty day simple moving average of $16.92 and a two-hundred day simple moving average of $17.37.

ARMOUR Residential REIT Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, August 28th. Investors of record on Monday, August 17th will be paid a dividend of $0.24 per share. The ex-dividend date is Monday, August 17th. This represents a c) dividend on an annualized basis and a dividend yield of 17.8%. ARMOUR Residential REIT’s payout ratio is 150.00%.

Analyst Upgrades and Downgrades

ARR has been the subject of several research reports. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of ARMOUR Residential REIT in a research report on Wednesday, June 17th. UBS Group reiterated a “neutral” rating and issued a $18.00 price target (up from $17.50) on shares of ARMOUR Residential REIT in a research report on Friday, April 24th. JonesTrading dropped their price target on shares of ARMOUR Residential REIT from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Thursday, April 23rd. Finally, Zacks Research upgraded ARMOUR Residential REIT from a “strong sell” rating to a “hold” rating in a research note on Tuesday. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $18.50.

Hedge Funds Weigh In On ARMOUR Residential REIT

Hedge funds have recently made changes to their positions in the business. Royal Bank of Canada raised its stake in ARMOUR Residential REIT by 50.3% during the 1st quarter. Royal Bank of Canada now owns 122,055 shares of the real estate investment trust’s stock valued at $2,088,000 after purchasing an additional 40,860 shares during the period. AQR Capital Management LLC grew its holdings in ARMOUR Residential REIT by 26.1% during the 1st quarter. AQR Capital Management LLC now owns 14,393 shares of the real estate investment trust’s stock valued at $246,000 after buying an additional 2,980 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in ARMOUR Residential REIT by 38.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 807,027 shares of the real estate investment trust’s stock valued at $13,800,000 after buying an additional 222,923 shares in the last quarter. Intech Investment Management LLC raised its position in shares of ARMOUR Residential REIT by 189.5% during the first quarter. Intech Investment Management LLC now owns 92,237 shares of the real estate investment trust’s stock valued at $1,577,000 after buying an additional 60,371 shares during the last quarter. Finally, Strs Ohio bought a new stake in shares of ARMOUR Residential REIT during the first quarter valued at approximately $181,000. Institutional investors own 54.17% of the company’s stock.

ARMOUR Residential REIT Company Profile

ARMOUR Residential REIT (NYSE:ARR) is a mortgage real estate investment trust that was formed in 2008 to acquire and manage a portfolio of residential mortgage-backed securities (RMBS). The company’s investments are primarily agency-sponsored and agency-guaranteed RMBS issued by U.S. government-sponsored enterprises, along with credit risk transfer securities and select non-agency residential and multifamily RMBS. By focusing on high-quality mortgage assets, ARMOUR Residential REIT seeks to generate stable income and preserve capital through diversified exposure to the U.S.