Key Points
- ARMOUR Residential REIT Chairman Daniel Staton sold 35,583 shares at an average price of $15.86, generating proceeds of approximately $564,346. The sale was disclosed in a filing with the SEC.
- ARR shares opened at $15.85, with the stock trading below its 50-day and 200-day moving averages. Analysts have an average “Hold” rating and an $18.50 price target.
- The company declared a monthly dividend of $0.24 per share, implying an annualized yield of approximately 18.2%; institutional investors own 54.17% of ARR’s outstanding stock.
ARMOUR Residential REIT, Inc. (NYSE:ARR - Get Free Report) Chairman Daniel Staton sold 35,583 shares of ARMOUR Residential REIT stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website.
ARMOUR Residential REIT Trading Up 0.1%
Shares of ARR stock opened at $15.85 on Friday. The stock has a market capitalization of $2.24 billion, a P/E ratio of 4.26 and a beta of 1.36. The firm's 50 day moving average is $16.50 and its 200 day moving average is $16.93. ARMOUR Residential REIT, Inc. has a 12 month low of $13.98 and a 12 month high of $19.31.
ARMOUR Residential REIT (NYSE:ARR - Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The real estate investment trust reported $0.72 EPS for the quarter, hitting the consensus estimate of $0.72. ARMOUR Residential REIT had a net margin of 44.90% and a return on equity of 15.10%. The company had revenue of $113.29 million during the quarter, compared to the consensus estimate of $111.98 million. On average, equities analysts predict that ARMOUR Residential REIT, Inc. will post 2.93 EPS for the current year.
ARMOUR Residential REIT Announces Dividend
The business also recently announced a monthly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be given a dividend of $0.24 per share. The ex-dividend date is Tuesday, September 15th. This represents a c) annualized dividend and a dividend yield of 18.2%. ARMOUR Residential REIT's dividend payout ratio is currently 77.42%.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in ARR. California State Teachers Retirement System raised its position in shares of ARMOUR Residential REIT by 1,605.3% in the second quarter. California State Teachers Retirement System now owns 2,523,096 shares of the real estate investment trust's stock worth $44,028,000 after buying an additional 2,375,141 shares in the last quarter. Marshall Wace LLP grew its position in ARMOUR Residential REIT by 365.7% during the third quarter. Marshall Wace LLP now owns 2,495,203 shares of the real estate investment trust's stock worth $37,278,000 after buying an additional 1,959,447 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in ARMOUR Residential REIT during the second quarter worth about $13,757,000. UBS Group AG increased its stake in ARMOUR Residential REIT by 115.9% in the 3rd quarter. UBS Group AG now owns 1,109,852 shares of the real estate investment trust's stock worth $16,581,000 after acquiring an additional 595,773 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in ARMOUR Residential REIT by 234.6% in the 1st 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. Institutional investors own 54.17% of the company's stock.
Analysts Set New Price Targets
ARR has been the subject of several recent research reports. Zacks Research upgraded ARMOUR Residential REIT from a "strong sell" rating to a "hold" rating in a research report on Tuesday, July 21st. Weiss Ratings cut ARMOUR Residential REIT from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Wednesday, August 19th. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, ARMOUR Residential REIT currently has an average rating of "Hold" and an average price target of $18.50.
Get Our Latest Stock Analysis on ARR
About ARMOUR Residential REIT
(
Get Free Report)
ARMOUR Residential REIT, Inc is a real estate investment trust that invests primarily in residential mortgage-backed securities (RMBS). Its portfolio is focused mainly on securities issued or guaranteed by government-sponsored enterprises and U.S. government agencies, including Fannie Mae, Freddie Mac and Ginnie Mae.
The company seeks to generate income from its investment portfolio and finances its activities through arrangements such as repurchase agreements. ARMOUR also uses interest-rate hedging strategies and other financial instruments to manage exposure to changing interest rates, financing costs and market conditions.
ARMOUR Residential REIT was organized in 2007 and is externally managed by ARMOUR Capital Management LP.
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