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

ARMOUR Residential REIT, Inc. (NYSE:ARR) 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.

ARMOUR Residential REIT (NYSE:ARR) last released its earnings results on Friday, April 26th. The real estate investment trust reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.22. The company had revenue of $141.48 million during the quarter, compared to the consensus estimate of $39.60 million. ARMOUR Residential REIT had a negative net margin of 3.83% and a positive return on equity of 15.68%. Equities analysts anticipate that ARMOUR Residential REIT will post 3.62 EPS for the current fiscal year.

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.

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.