B. Riley Increases ARMOUR Residential REIT (NYSE:ARR) Price Target to $21.00

ARMOUR Residential REIT (NYSE:ARR) had its price target hoisted by B. Riley from $20.00 to $21.00 in a research note published on Monday, Benzinga reports. They currently have a neutral rating on the real estate investment trust’s stock. B. Riley also issued estimates for ARMOUR Residential REIT’s Q3 2024 earnings at $0.92 EPS, Q4 2024 earnings at $0.95 EPS, FY2024 earnings at $3.77 EPS, Q1 2025 earnings at $1.05 EPS, Q1 2026 earnings at $1.17 EPS and Q2 2026 earnings at $1.19 EPS.

Other analysts have also issued reports about the stock. StockNews.com lowered shares of ARMOUR Residential REIT from a hold rating to a sell rating in a research report on Friday, April 5th. JMP Securities reaffirmed a market perform rating on shares of ARMOUR Residential REIT in a research note on Thursday, April 18th. Finally, Janney Montgomery Scott assumed coverage on shares of ARMOUR Residential REIT in a report on Thursday, June 6th. They issued a neutral rating and a $20.00 target price on the stock. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $19.83.

ARMOUR Residential REIT Stock Up 0.3 %

Shares of ARR stock opened at $20.27 on Monday. The firm has a market cap of $988.20 million, a P/E ratio of -28.10 and a beta of 1.51. The business has a 50-day moving average price of $19.83 and a two-hundred day moving average price of $19.33. ARMOUR Residential REIT has a 12-month low of $13.31 and a 12-month high of $25.70.

ARMOUR Residential REIT (NYSE:ARR) last released its earnings results on Wednesday, July 24th. The real estate investment trust reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.09. The company had revenue of $129.93 million during the quarter, compared to the consensus estimate of $28.47 million. ARMOUR Residential REIT had a positive return on equity of 16.64% and a negative net margin of 19.85%. As a group, research analysts expect that ARMOUR Residential REIT will post 3.72 EPS for the current fiscal year.

ARMOUR Residential REIT Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th will be given a $0.24 dividend. The ex-dividend date is Thursday, August 15th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 14.21%. ARMOUR Residential REIT’s dividend payout ratio is currently -400.00%.

Hedge Funds Weigh In On ARMOUR Residential REIT

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in ARMOUR Residential REIT by 16.6% during the 3rd quarter. Vanguard Group Inc. now owns 24,968,254 shares of the real estate investment trust’s stock valued at $106,115,000 after purchasing an additional 3,550,122 shares during the period. Louisiana State Employees Retirement System purchased a new position in shares of ARMOUR Residential REIT during the fourth quarter valued at about $473,000. Strs Ohio bought a new position in ARMOUR Residential REIT in the fourth quarter worth about $187,000. Wolverine Asset Management LLC purchased a new stake in ARMOUR Residential REIT in the fourth quarter worth about $6,913,000. Finally, Maryland State Retirement & Pension System bought a new stake in ARMOUR Residential REIT during the 4th quarter valued at approximately $344,000. Institutional investors own 54.17% of the company’s stock.

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.