ARMOUR Residential REIT (NYSE:ARR) Upgraded at Wall Street Zen

by · The Markets Daily

Wall Street Zen upgraded shares of ARMOUR Residential REIT (NYSE:ARR – Free Report) from a strong sell rating to a sell rating in a report published on Saturday,Wall Street Zen reports.

Several other equities analysts have also recently commented on the stock. Zacks Research raised shares of ARMOUR Residential REIT from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 21st. B. Riley Financial decreased their price target on ARMOUR Residential REIT from $18.00 to $14.50 and set a “neutral” rating for the company in a research note on Friday, October 23rd. Weiss Ratings lowered ARMOUR Residential REIT from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, October 23rd. Finally, JonesTrading cut their price objective on ARMOUR Residential REIT from $19.00 to $15.25 and set a “buy” rating on the stock in a research note on Thursday, October 22nd. Two investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, ARMOUR Residential REIT presently has an average rating of “Hold” and a consensus price target of $16.56.

Read Our Latest Report on ARR

ARMOUR Residential REIT Price Performance

NYSE ARR opened at $12.77 on Friday. ARMOUR Residential REIT has a 12 month low of $12.02 and a 12 month high of $19.31. The company has a market capitalization of $1.89 billion, a price-to-earnings ratio of 4.34 and a beta of 1.47. The company’s fifty day moving average price is $13.97 and its two-hundred day moving average price is $16.33.

ARMOUR Residential REIT (NYSE:ARR – Get Free Report) last announced its quarterly earnings data on Wednesday, October 21st. The real estate investment trust reported $0.71 earnings per share for the quarter, hitting the consensus estimate of $0.71. The company had revenue of $121.70 million during the quarter, compared to analyst estimates of $119.84 million. ARMOUR Residential REIT had a negative net margin of 5.09% and a positive return on equity of 15.90%. As a group, analysts anticipate that ARMOUR Residential REIT will post 2.88 EPS for the current year.

ARMOUR Residential REIT Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, November 27th. Investors of record on Monday, November 16th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Monday, November 16th. This represents a $2.88 annualized dividend and a dividend yield of 22.6%. ARMOUR Residential REIT’s dividend payout ratio (DPR) is -9,600.00%.

Insider Activity

In related news, Chairman Daniel Staton sold 35,583 shares of the business’s stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $15.86, for a total transaction of $564,346.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.19% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. State Street Corp lifted its stake in ARMOUR Residential REIT by 15.0% in the second quarter. State Street Corp now owns 4,745,078 shares of the real estate investment trust’s stock valued at $82,802,000 after buying an additional 619,020 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in shares of ARMOUR Residential REIT during the second quarter valued at $13,757,000. First Trust Advisors LP grew its position in shares of ARMOUR Residential REIT by 234.6% during the first quarter. First Trust Advisors LP now owns 664,247 shares of the real estate investment trust’s stock worth $11,080,000 after acquiring an additional 465,733 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of ARMOUR Residential REIT by 2.0% during the first quarter. Principal Financial Group Inc. now owns 543,935 shares of the real estate investment trust’s stock worth $9,073,000 after acquiring an additional 10,592 shares during the last quarter. Finally, Ascentis Wealth Management LLC grew its position in shares of ARMOUR Residential REIT by 11.3% during the second quarter. Ascentis Wealth Management LLC now owns 395,000 shares of the real estate investment trust’s stock worth $6,892,750 after acquiring an additional 40,000 shares during the last quarter. 54.17% of the stock is currently owned by institutional investors.

About ARMOUR Residential REIT

(Get Free Report)

ARMOUR Residential REIT, Inc is a real estate investment trust focused on the U.S. residential mortgage market. The company primarily invests in agency mortgage-backed securities, which are backed by residential mortgage loans and guaranteed or issued by Fannie Mae, Freddie Mac or Ginnie Mae.

Its portfolio may include mortgage securities with fixed, adjustable or hybrid interest rates. ARMOUR also uses financing arrangements and hedging instruments to manage interest-rate and other investment risks.

Founded in 2009, ARMOUR is externally managed by ARMOUR Capital Management LP.

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