Key Points
- CIO Sergey Losyev purchased 725 shares of ARMOUR Residential REIT at an average price of $13.91, increasing his ownership by 8.1% to 9,677 shares.
- ARMOUR reported quarterly EPS of $0.72, matching analyst estimates, while revenue of $113.29 million exceeded expectations.
- The company declared a monthly dividend of $0.24 per share, or $2.88 annualized, representing a 20.8% yield; analysts maintain an average “Hold” rating with an $18.50 price target.
ARMOUR Residential REIT, Inc. (NYSE:ARR - Get Free Report) CIO Sergey Losyev purchased 725 shares of the stock in a transaction that occurred on Tuesday, September 29th. The stock was bought at an average price of $13.91 per share, with a total value of $10,084.75. Following the completion of the transaction, the executive owned 9,677 shares of the company's stock, valued at $134,607.07. The trade was a 8.10% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
ARMOUR Residential REIT Stock Down 1.4%
ARR stock opened at $13.82 on Thursday. ARMOUR Residential REIT, Inc. has a twelve month low of $13.76 and a twelve month high of $19.31. The stock has a market capitalization of $1.96 billion, a price-to-earnings ratio of 3.71 and a beta of 1.36. The firm's fifty day simple moving average is $15.89 and its two-hundred day simple moving average is $16.62.
ARMOUR Residential REIT (NYSE:ARR - Get Free Report) last released its earnings results on Wednesday, July 22nd. The real estate investment trust reported $0.72 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.72. The firm had revenue of $113.29 million during the quarter, compared to analyst estimates of $111.98 million. ARMOUR Residential REIT had a net margin of 44.90% and a return on equity of 15.10%. As a group, equities research analysts expect that ARMOUR Residential REIT, Inc. will post 2.93 EPS for the current year.
ARMOUR Residential REIT Announces Dividend
The company also recently disclosed a monthly dividend, which will be paid on Thursday, October 29th. Investors of record on Thursday, October 15th will be given a $0.24 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 20.8%. The ex-dividend date of this dividend is Thursday, October 15th. ARMOUR Residential REIT's dividend payout ratio is 77.42%.
Hedge Funds Weigh In On ARMOUR Residential REIT
Hedge funds and other institutional investors have recently modified their holdings of the business. Kovack Advisors Inc. raised its stake in ARMOUR Residential REIT by 2.9% in the second quarter. Kovack Advisors Inc. now owns 29,016 shares of the real estate investment trust's stock worth $501,000 after buying an additional 814 shares in the last quarter. Allworth Financial LP lifted its holdings in ARMOUR Residential REIT by 16.8% during the second quarter. Allworth Financial LP now owns 7,593 shares of the real estate investment trust's stock worth $133,000 after buying an additional 1,091 shares during the period. IFP Advisors Inc boosted its position in ARMOUR Residential REIT by 576.2% during the 2nd quarter. IFP Advisors Inc now owns 1,420 shares of the real estate investment trust's stock valued at $25,000 after acquiring an additional 1,210 shares in the last quarter. GAMMA Investing LLC boosted its position in ARMOUR Residential REIT by 61.0% during the 2nd quarter. GAMMA Investing LLC now owns 3,454 shares of the real estate investment trust's stock valued at $60,000 after acquiring an additional 1,309 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of ARMOUR Residential REIT by 3.3% in the 1st quarter. The Manufacturers Life Insurance Company now owns 50,103 shares of the real estate investment trust's stock valued at $836,000 after acquiring an additional 1,612 shares during the period. 54.17% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several research analysts have issued reports on the company. Weiss Ratings lowered ARMOUR Residential REIT from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Wednesday, August 19th. Zacks Research upgraded ARMOUR Residential REIT from a "strong sell" rating to a "hold" rating in a report on Tuesday, July 21st. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $18.50.
Check Out Our Latest Research Report 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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