ARMOUR Residential REIT, Inc. (NYSE:ARR – Get Free Report) announced a monthly dividend on Tuesday, July 23rd, Wall Street Journal reports. Stockholders of record on Thursday, August 15th will be given a dividend of 0.24 per share by the real estate investment trust on Thursday, August 29th. This represents a $2.88 annualized dividend and a dividend yield of 13.93%. The ex-dividend date is Thursday, August 15th.
ARMOUR Residential REIT has a dividend payout ratio of 71.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect ARMOUR Residential REIT to earn $3.85 per share next year, which means the company should continue to be able to cover its $2.88 annual dividend with an expected future payout ratio of 74.8%.
ARMOUR Residential REIT Stock Down 3.1 %
Shares of ARR traded down $0.67 during midday trading on Wednesday, hitting $20.68. The company had a trading volume of 1,245,014 shares, compared to its average volume of 1,081,950. The company’s 50 day moving average price is $19.68 and its 200 day moving average price is $19.30. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of -28.72 and a beta of 1.51. ARMOUR Residential REIT has a 52 week low of $13.31 and a 52 week high of $26.90.
Wall Street Analyst Weigh In
Several research firms have recently commented on ARR. Janney Montgomery Scott initiated coverage on shares of ARMOUR Residential REIT in a report on Thursday, June 6th. They issued a “neutral” rating and a $20.00 price target for the company. StockNews.com lowered shares of ARMOUR Residential REIT from a “hold” rating to a “sell” rating in a research note on Friday, April 5th. Finally, JMP Securities reissued a “market perform” rating on shares of ARMOUR Residential REIT in a research note on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, ARMOUR Residential REIT presently has a consensus rating of “Hold” and a consensus price target of $19.50.
Get Our Latest Research Report on ARMOUR Residential REIT
ARMOUR Residential REIT Company Profile
ARMOUR Residential REIT, Inc invests in residential mortgage-backed securities (MBS) in the United States. 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; and unsecured notes and bonds issued by the GSE and the United States treasuries, as well as money market instruments.
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