ARMOUR Residential REIT (ARR) Lifted to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of ARMOUR Residential REIT (NYSE:ARR) from a hold rating to a buy rating in a research report sent to investors on Wednesday. The firm currently has $25.00 target price on the real estate investment trust’s stock.

According to Zacks, “ARMOUR Residential REIT, Inc. invests primarily in residential mortgage-backed securities issued or guaranteed by a United States Government-chartered entity. “

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Shares of ARR stock opened at $22.45 on Wednesday. The firm has a market capitalization of $940.14, a P/E ratio of 8.08 and a beta of 0.61. ARMOUR Residential REIT has a 52-week low of $21.40 and a 52-week high of $27.60.

ARMOUR Residential REIT (NYSE:ARR) last released its earnings results on Tuesday, February 13th. The real estate investment trust reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.03. ARMOUR Residential REIT had a return on equity of 12.51% and a net margin of 65.90%. During the same period in the prior year, the business earned $0.71 earnings per share. research analysts forecast that ARMOUR Residential REIT will post 2.75 EPS for the current fiscal year.

The company also recently announced a monthly dividend, which will be paid on Wednesday, March 28th. Shareholders of record on Thursday, March 15th will be given a $0.19 dividend. The ex-dividend date is Wednesday, March 14th. This represents a $2.28 dividend on an annualized basis and a yield of 10.16%. ARMOUR Residential REIT’s dividend payout ratio (DPR) is 45.06%.

In related news, CEO Jeffrey J. Zimmer acquired 6,500 shares of the business’s stock in a transaction dated Friday, March 9th. The stock was bought at an average price of $22.52 per share, for a total transaction of $146,380.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Mark Gruber acquired 2,000 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were bought at an average price of $22.70 per share, with a total value of $45,400.00. Following the transaction, the chief operating officer now directly owns 22,300 shares in the company, valued at approximately $506,210. The disclosure for this purchase can be found here. Insiders acquired 12,500 shares of company stock valued at $283,740 over the last 90 days. 1.20% of the stock is currently owned by insiders.

Several large investors have recently made changes to their positions in the company. Aperio Group LLC lifted its position in shares of ARMOUR Residential REIT by 19.9% during the 4th quarter. Aperio Group LLC now owns 14,387 shares of the real estate investment trust’s stock valued at $370,000 after acquiring an additional 2,388 shares during the last quarter. Paloma Partners Management Co lifted its position in shares of ARMOUR Residential REIT by 26.0% during the 4th quarter. Paloma Partners Management Co now owns 14,525 shares of the real estate investment trust’s stock valued at $374,000 after acquiring an additional 2,994 shares during the last quarter. California Public Employees Retirement System lifted its position in shares of ARMOUR Residential REIT by 2.4% during the 3rd quarter. California Public Employees Retirement System now owns 140,252 shares of the real estate investment trust’s stock valued at $3,773,000 after acquiring an additional 3,277 shares during the last quarter. Crossmark Global Holdings Inc. lifted its position in shares of ARMOUR Residential REIT by 42.8% during the 4th quarter. Crossmark Global Holdings Inc. now owns 11,280 shares of the real estate investment trust’s stock valued at $290,000 after acquiring an additional 3,380 shares during the last quarter. Finally, Texas Permanent School Fund lifted its position in shares of ARMOUR Residential REIT by 16.0% during the 4th quarter. Texas Permanent School Fund now owns 28,302 shares of the real estate investment trust’s stock valued at $728,000 after acquiring an additional 3,894 shares during the last quarter. Institutional investors own 60.22% of the company’s stock.

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About ARMOUR Residential REIT

ARMOUR Residential REIT, Inc is a real estate investment trust. The Company invests in and manages a leveraged portfolio of mortgage-backed securities (MBS) and mortgage loans. The Company invests in residential mortgage backed securities issued or guaranteed by a United States Government-sponsored enterprise (GSE), such as the Federal National Mortgage Association or the Federal Home Loan Mortgage Corporation, or a government agency, such as the Government National Mortgage Association (collectively, Agency Securities).

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