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 commented on the company. Credit Suisse Group AG reissued a sell rating and issued a $22.00 target price on shares of Armour Residential REIT in a research note on Friday, September 9th. National Securities reissued a sell rating and issued a $16.00 target price on shares of Armour Residential REIT in a research note on Monday, August 8th. Deutsche Bank AG increased their target price on Armour Residential REIT from $21.00 to $21.80 and gave the stock a hold rating in a research note on Thursday, August 4th. Finally, Barclays PLC increased their target price on Armour Residential REIT from $18.00 to $21.00 and gave the stock an underweight rating in a research note on Thursday, August 4th. Four research analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. Armour Residential REIT presently has a consensus rating of Hold and an average price target of $21.35.
Shares of Armour Residential REIT (NYSE:ARR) opened at 22.15 on Tuesday. The stock’s market cap is $812.97 million. Armour Residential REIT has a one year low of $16.61 and a one year high of $23.23. The company has a 50-day moving average price of $22.24 and a 200 day moving average price of $21.11.
Armour Residential REIT (NYSE:ARR) last released its earnings results on Tuesday, August 2nd. The company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by $0.08. Armour Residential REIT had a positive return on equity of 13.00% and a negative net margin of 113.98%. During the same period in the previous year, the firm earned $0.12 earnings per share. Equities research analysts expect that Armour Residential REIT will post $3.50 earnings per share for the current year.
The company also recently announced a monthly dividend, which will be paid on Thursday, October 27th. Shareholders of record on Friday, October 14th will be issued a $0.22 dividend. This represents a $2.64 dividend on an annualized basis and a yield of 11.92%. The ex-dividend date is Wednesday, October 12th. Armour Residential REIT’s dividend payout ratio is -26.80%.
In other news, CEO Jeffrey J. Zimmer bought 10,000 shares of the stock in a transaction on Monday, August 22nd. The shares were bought at an average price of $22.11 per share, with a total value of $221,100.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.20% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Armour Residential REIT by 0.5% in the second quarter. Vanguard Group Inc. now owns 2,712,736 shares of the company’s stock worth $54,254,000 after buying an additional 14,736 shares in the last quarter. BlackRock Fund Advisors increased its position in Armour Residential REIT by 18.8% in the second quarter. BlackRock Fund Advisors now owns 1,726,972 shares of the company’s stock worth $34,539,000 after buying an additional 272,710 shares in the last quarter. Renaissance Technologies LLC increased its position in Armour Residential REIT by 19.6% in the first quarter. Renaissance Technologies LLC now owns 1,109,500 shares of the company’s stock worth $23,888,000 after buying an additional 181,700 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its position in Armour Residential REIT by 2.0% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,107,991 shares of the company’s stock worth $22,160,000 after buying an additional 22,155 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in Armour Residential REIT by 426.4% in the first quarter. JPMorgan Chase & Co. now owns 1,002,017 shares of the company’s stock worth $21,573,000 after buying an additional 811,652 shares in the last quarter. 40.48% of the stock is currently owned by institutional investors.
About Armour Residential REIT
ARMOUR Residential REIT, Inc (ARMOUR) is an externally managed real estate investment trust (REIT). The Company invests in residential mortgage backed securities issued or guaranteed by the United States Government-sponsored entity (GSE), such as the Federal National Mortgage Association (Fannie Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac) or guaranteed by the Government National Mortgage Administration (Ginnie Mae) (collectively, Agency Securities).
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