Zacks Investment Research cut shares of ARMOUR Residential REIT (NYSE:ARR) from a buy rating to a hold rating in a research note issued to investors on Friday.
According to Zacks, “ARMOUR Residential REIT, Inc. invests primarily in residential mortgage-backed securities issued or guaranteed by a United States Government-chartered entity. “
ARMOUR Residential REIT stock traded up $0.07 during mid-day trading on Friday, reaching $23.51. 628,373 shares of the company’s stock were exchanged, compared to its average volume of 438,516. The firm has a market cap of $981.61, a PE ratio of 8.58 and a beta of 0.53. ARMOUR Residential REIT has a twelve month low of $21.40 and a twelve month high of $27.60.
The firm also recently announced a monthly dividend, which will be paid on Friday, April 27th. Shareholders of record on Friday, April 13th will be issued a dividend of $0.19 per share. The ex-dividend date is Thursday, April 12th. This represents a $2.28 dividend on an annualized basis and a yield of 9.70%. ARMOUR Residential REIT’s dividend payout ratio (DPR) is presently 83.21%.
In other news, COO Mark Gruber acquired 2,000 shares of ARMOUR Residential REIT stock in a transaction dated Tuesday, February 20th. The shares were acquired at an average cost of $22.70 per share, for a total transaction of $45,400.00. Following the acquisition, the chief operating officer now owns 22,300 shares of the company’s stock, valued at $506,210. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Jeffrey J. Zimmer acquired 6,500 shares of ARMOUR Residential REIT stock in a transaction dated Friday, March 9th. The stock was purchased at an average price of $22.52 per share, for a total transaction of $146,380.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 12,500 shares of company stock worth $283,740. 1.20% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp raised its holdings in shares of ARMOUR Residential REIT by 34.9% in the 4th quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 309,000 shares of the real estate investment trust’s stock valued at $7,947,000 after purchasing an additional 80,000 shares in the last quarter. Sterling Capital Management LLC raised its holdings in shares of ARMOUR Residential REIT by 14.2% in the 4th quarter. Sterling Capital Management LLC now owns 39,795 shares of the real estate investment trust’s stock valued at $1,024,000 after purchasing an additional 4,946 shares in the last quarter. MetLife Investment Advisors LLC acquired a new stake in shares of ARMOUR Residential REIT in the 4th quarter valued at $499,000. Municipal Employees Retirement System of Michigan raised its holdings in shares of ARMOUR Residential REIT by 32.4% in the 4th quarter. Municipal Employees Retirement System of Michigan now owns 20,550 shares of the real estate investment trust’s stock valued at $528,000 after purchasing an additional 5,030 shares in the last quarter. Finally, Teachers Advisors LLC raised its holdings in shares of ARMOUR Residential REIT by 9.0% in the 4th quarter. Teachers Advisors LLC now owns 74,338 shares of the real estate investment trust’s stock valued at $1,912,000 after purchasing an additional 6,164 shares in the last quarter. Institutional investors and hedge funds own 60.22% of the company’s stock.
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ARMOUR Residential REIT Company Profile
ARMOUR Residential REIT, Inc invests in residential mortgage backed securities in the United States. The company is managed by ARMOUR Capital Management LP. Its securities portfolio primarily consists of the United States Government-sponsored entity's (GSE) and the Government National Mortgage Administration's issued or guaranteed securities backed by fixed rate, hybrid adjustable rate, and adjustable rate home loans, as well as unsecured notes and bonds issued by the GSE and the United States treasuries; and money market instruments.
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