ARMOUR Residential REIT (NYSE:ARR) Lowered to Strong Sell Rating by Zacks Research

by · The Markets Daily

Zacks Research cut shares of ARMOUR Residential REIT (NYSE:ARR – Free Report) from a hold rating to a strong sell rating in a research note issued to investors on Monday,Zacks.com reports.

Several other research firms have also recently weighed in on ARR. JonesTrading decreased their target price on shares of ARMOUR Residential REIT from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday, April 23rd. UBS Group reiterated a “neutral” rating and issued a $18.00 price target (up from $17.50) on shares of ARMOUR Residential REIT in a research note on Friday, April 24th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of ARMOUR Residential REIT in a research report on Wednesday, June 17th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, ARMOUR Residential REIT currently has an average rating of “Hold” and a consensus price target of $18.50.

Read Our Latest Stock Analysis on ARR

ARMOUR Residential REIT Stock Performance

Shares of NYSE ARR opened at $16.79 on Monday. The stock has a 50 day moving average price of $17.15 and a 200 day moving average price of $17.43. ARMOUR Residential REIT has a 52 week low of $13.98 and a 52 week high of $19.31. The stock has a market capitalization of $2.08 billion, a PE ratio of 8.74 and a beta of 1.36.

ARMOUR Residential REIT (NYSE:ARR – Get Free Report) last posted 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. ARMOUR Residential REIT had a return on equity of 15.39% and a net margin of 27.43%.The firm had revenue of $70.71 million for the quarter, compared to analyst estimates of $155.79 million. As a group, research analysts forecast that ARMOUR Residential REIT will post 2.82 EPS for the current year.

ARMOUR Residential REIT Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, June 29th. Stockholders of record on Monday, June 15th will be paid a dividend of $0.24 per share. This represents a c) annualized dividend and a dividend yield of 17.2%. The ex-dividend date is Monday, June 15th. ARMOUR Residential REIT’s payout ratio is currently 150.00%.

Institutional Investors Weigh In On ARMOUR Residential REIT

Large investors have recently added to or reduced their stakes in the business. Royal Bank of Canada boosted its position in ARMOUR Residential REIT by 50.3% during the first quarter. Royal Bank of Canada now owns 122,055 shares of the real estate investment trust’s stock worth $2,088,000 after purchasing an additional 40,860 shares during the period. AQR Capital Management LLC raised its position in shares of ARMOUR Residential REIT by 26.1% in the first quarter. AQR Capital Management LLC now owns 14,393 shares of the real estate investment trust’s stock valued at $246,000 after purchasing an additional 2,980 shares during the period. Goldman Sachs Group Inc. raised its position in shares of ARMOUR Residential REIT by 38.2% in the first quarter. Goldman Sachs Group Inc. now owns 807,027 shares of the real estate investment trust’s stock valued at $13,800,000 after purchasing an additional 222,923 shares during the period. Intech Investment Management LLC raised its position in shares of ARMOUR Residential REIT by 189.5% in the first quarter. Intech Investment Management LLC now owns 92,237 shares of the real estate investment trust’s stock valued at $1,577,000 after purchasing an additional 60,371 shares during the period. Finally, Strs Ohio acquired a new stake in shares of ARMOUR Residential REIT during the 1st quarter worth about $181,000. Institutional investors own 54.17% of the company’s stock.

About ARMOUR Residential REIT

(Get Free Report)

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.

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