ARMOUR Residential REIT, Inc. to Issue Monthly Dividend of $0.24 (NYSE:ARR)

ARMOUR Residential REIT, Inc. (NYSE:ARR) declared a monthly dividend on Thursday, May 28th. Stockholders of record on Monday, June 15th will be paid a dividend of 0.24 per share by the real estate investment trust on Monday, June 29th. This represents a c) annualized dividend and a dividend yield of 16.8%. The ex-dividend date is Monday, June 15th.

ARMOUR Residential REIT has decreased its dividend payment by an average of 0.1%per year over the last three years. ARMOUR Residential REIT has a payout ratio of 82.1% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities research analysts expect ARMOUR Residential REIT to earn $3.00 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 96.0%.

ARMOUR Residential REIT Price Performance

Shares of ARMOUR Residential REIT stock opened at $17.13 on Friday. The company’s fifty day simple moving average is $17.04 and its 200-day simple moving average is $17.42. The stock has a market capitalization of $2.12 billion, a PE ratio of 8.92 and a beta of 1.39. ARMOUR Residential REIT has a 1-year low of $13.98 and a 1-year high of $19.31.

ARMOUR Residential REIT (NYSE:ARR) last issued its quarterly earnings results on Wednesday, April 22nd. The real estate investment trust reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.03. The business had revenue of $70.71 million for the quarter, compared to analysts’ expectations of $155.79 million. ARMOUR Residential REIT had a net margin of 27.43% and a return on equity of 15.39%. As a group, research analysts anticipate that ARMOUR Residential REIT will post 2.82 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. UBS Group restated a “neutral” rating and set a $18.00 target price (up from $17.50) on shares of ARMOUR Residential REIT in a research note on Friday, April 24th. JonesTrading lowered their target price 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. Wall Street Zen cut shares of ARMOUR Residential REIT from a “hold” rating to a “sell” rating in a research note on Saturday, February 21st. Weiss Ratings cut ARMOUR Residential REIT from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, March 20th. Finally, Zacks Research upgraded ARMOUR Residential REIT from a “strong sell” rating to a “hold” rating in a research report on Friday, March 20th. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $18.50.

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.