ARMOUR Residential REIT, Inc. (NYSE:ARR) to Issue Monthly Dividend of $0.24

ARMOUR Residential REIT, Inc. (NYSE:ARR) announced a monthly dividend on Thursday, September 24th. Stockholders of record on Thursday, October 15th will be given a dividend of $0.24 per share by the real estate investment trust on Thursday, October 29th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 20.6%. The ex-dividend date of this dividend is Thursday, October 15th.

ARMOUR Residential REIT has decreased its dividend payment by an average of 0.1%annually over the last three years. ARMOUR Residential REIT has a payout ratio of 82.1% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities research analysts expect ARMOUR Residential REIT to earn $3.11 per share next year, which means the company should continue to be able to cover its $2.88 annual dividend with an expected future payout ratio of 92.6%.

ARMOUR Residential REIT Price Performance

ARR traded down $0.10 during trading on Friday, hitting $14.01. The company had a trading volume of 336,934 shares, compared to its average volume of 3,594,196. ARMOUR Residential REIT has a 1-year low of $14.05 and a 1-year high of $19.31. The company has a market cap of $1.98 billion, a PE ratio of 3.77 and a beta of 1.36. The business has a 50-day moving average of $16.09 and a 200-day moving average of $16.73.

ARMOUR Residential REIT (NYSE:ARR) last released its earnings results on Wednesday, July 22nd. The real estate investment trust reported $0.72 earnings per share for the quarter, hitting the consensus estimate of $0.72. The company had revenue of $113.29 million during the quarter, compared to the consensus estimate of $111.98 million. ARMOUR Residential REIT had a net margin of 44.90% and a return on equity of 15.10%. Research analysts forecast that ARMOUR Residential REIT will post 2.93 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ARR has been the topic of several research reports. Weiss Ratings cut ARMOUR Residential REIT from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, August 19th. Zacks Research upgraded shares of ARMOUR Residential REIT from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 21st. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, ARMOUR Residential REIT presently has a consensus rating of “Hold” and an average price target of $18.50.

About ARMOUR Residential REIT

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.