Zacks Investment Research cut shares of ARMOUR Residential REIT, Inc. (NYSE:ARR) from a strong-buy rating to a hold rating in a report issued on Tuesday, October 17th.
According to Zacks, “ARMOUR Residential REIT, Inc. invests primarily in residential mortgage-backed securities issued or guaranteed by a United States Government-chartered entity. “
A number of other equities research analysts have also recently weighed in on ARR. BidaskClub cut shares of ARMOUR Residential REIT from a strong-buy rating to a buy rating in a research report on Friday, June 30th. ValuEngine raised shares of ARMOUR Residential REIT from a buy rating to a strong-buy rating in a report on Friday, September 1st. One research analyst has rated the stock with a hold rating, one has issued a buy rating and two have issued a strong buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $26.00.
ARMOUR Residential REIT (NYSE ARR) traded down $0.27 during trading hours on Tuesday, hitting $24.18. 501,513 shares of the company’s stock traded hands, compared to its average volume of 655,276. The firm has a market cap of $1,023.69, a price-to-earnings ratio of 8.80 and a beta of 0.73.
ARMOUR Residential REIT (NYSE:ARR) last posted its quarterly earnings results on Wednesday, October 25th. The real estate investment trust reported $0.69 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.03. The business had revenue of $39.64 million during the quarter, compared to the consensus estimate of $37.49 million. ARMOUR Residential REIT had a net margin of 76.46% and a return on equity of 9.39%. During the same quarter in the previous year, the firm posted $0.68 earnings per share. sell-side analysts predict that ARMOUR Residential REIT will post 2.69 earnings per share for the current year.
The firm also recently announced a monthly dividend, which will be paid on Monday, November 27th. Stockholders of record on Wednesday, November 15th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 9.43%. ARMOUR Residential REIT’s payout ratio is 45.06%.
In other news, COO Mark Gruber purchased 4,000 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The stock was purchased at an average cost of $25.38 per share, with a total value of $101,520.00. Following the completion of the acquisition, the chief operating officer now directly owns 19,958 shares of the company’s stock, valued at approximately $506,534.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have purchased 4,700 shares of company stock valued at $119,411 over the last three months. 1.50% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. IFP Advisors Inc raised its holdings in ARMOUR Residential REIT by 1.1% during the second quarter. IFP Advisors Inc now owns 6,484 shares of the real estate investment trust’s stock worth $162,000 after purchasing an additional 69 shares in the last quarter. BNP Paribas Arbitrage SA grew its position in ARMOUR Residential REIT by 136.8% during the second quarter. BNP Paribas Arbitrage SA now owns 7,092 shares of the real estate investment trust’s stock worth $177,000 after buying an additional 4,097 shares during the period. OMERS ADMINISTRATION Corp acquired a new position in ARMOUR Residential REIT during the second quarter worth about $212,000. Crossmark Global Holdings Inc. acquired a new position in ARMOUR Residential REIT during the third quarter worth about $213,000. Finally, ETRADE Capital Management LLC grew its position in ARMOUR Residential REIT by 4.1% during the second quarter. ETRADE Capital Management LLC now owns 9,451 shares of the real estate investment trust’s stock worth $236,000 after buying an additional 373 shares during the period. 45.32% of the stock is owned by hedge funds and other institutional investors.
ARMOUR Residential REIT Company Profile
ARMOUR Residential REIT, Inc is a real estate investment trust. The Company invests in and manages a leveraged portfolio of mortgage-backed securities (MBS) and mortgage loans. The Company invests in residential mortgage backed securities issued or guaranteed by a United States Government-sponsored enterprise (GSE), such as the Federal National Mortgage Association or the Federal Home Loan Mortgage Corporation, or a government agency, such as the Government National Mortgage Association (collectively, Agency Securities).
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