Principal Financial Group Inc. Buys 138,039 Shares of ARMOUR Residential REIT, Inc. $ARR

Principal Financial Group Inc. grew its position in shares of ARMOUR Residential REIT, Inc. (NYSE:ARR) by 34.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 543,434 shares of the real estate investment trust’s stock after purchasing an additional 138,039 shares during the period. Principal Financial Group Inc. owned approximately 0.49% of ARMOUR Residential REIT worth $8,119,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in ARR. Allworth Financial LP grew its holdings in ARMOUR Residential REIT by 139.1% during the 2nd quarter. Allworth Financial LP now owns 2,675 shares of the real estate investment trust’s stock valued at $45,000 after buying an additional 1,556 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of ARMOUR Residential REIT during the 2nd quarter valued at approximately $55,000. Russell Investments Group Ltd. grew its holdings in shares of ARMOUR Residential REIT by 80.9% in the second quarter. Russell Investments Group Ltd. now owns 3,289 shares of the real estate investment trust’s stock valued at $55,000 after purchasing an additional 1,471 shares in the last quarter. Spire Wealth Management increased its position in ARMOUR Residential REIT by 311.2% in the second quarter. Spire Wealth Management now owns 3,388 shares of the real estate investment trust’s stock worth $57,000 after purchasing an additional 2,564 shares during the last quarter. Finally, CWM LLC raised its stake in ARMOUR Residential REIT by 126.2% during the second quarter. CWM LLC now owns 6,429 shares of the real estate investment trust’s stock valued at $108,000 after purchasing an additional 3,587 shares in the last quarter. 54.17% of the stock is currently owned by hedge funds and other institutional investors.

ARMOUR Residential REIT Price Performance

Shares of NYSE ARR opened at $18.31 on Friday. ARMOUR Residential REIT, Inc. has a 1 year low of $13.18 and a 1 year high of $19.31. The firm has a 50-day simple moving average of $17.84 and a two-hundred day simple moving average of $16.53. The company has a market cap of $2.05 billion, a P/E ratio of 457.65 and a beta of 1.46.

ARMOUR Residential REIT Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, February 27th. Stockholders of record on Tuesday, February 17th will be issued a $0.24 dividend. The ex-dividend date is Tuesday, February 17th. This represents a c) dividend on an annualized basis and a dividend yield of 15.7%. ARMOUR Residential REIT’s dividend payout ratio is presently 7,200.00%.

Insider Buying and Selling

In related news, Director Robert C. Hain sold 6,833 shares of the firm’s stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $18.06, for a total value of $123,403.98. Following the transaction, the director owned 1,010 shares of the company’s stock, valued at $18,240.60. This trade represents a 87.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.35% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

ARR has been the subject of a number of recent research reports. Weiss Ratings reissued a “sell (d)” rating on shares of ARMOUR Residential REIT in a research note on Wednesday, January 21st. Compass Point started coverage on ARMOUR Residential REIT in a research report on Monday, December 15th. They issued a “buy” rating and a $18.50 price target for the company. Jones Trading upgraded ARMOUR Residential REIT from a “hold” rating to a “buy” rating and set a $20.50 price objective on the stock in a research report on Friday, January 16th. Finally, Zacks Research upgraded ARMOUR Residential REIT from a “strong sell” rating to a “hold” rating in a report on Friday, January 16th. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $18.33.

ARMOUR Residential REIT Profile

ARMOUR Residential REIT (NYSE:ARR) is a mortgage real estate investment trust that was formed in 2008 to acquire and manage a portfolio of residential mortgage-backed securities (RMBS). The company’s investments are primarily agency-sponsored and agency-guaranteed RMBS issued by U.S. government-sponsored enterprises, along with credit risk transfer securities and select non-agency residential and multifamily RMBS. By focusing on high-quality mortgage assets, ARMOUR Residential REIT seeks to generate stable income and preserve capital through diversified exposure to the U.S.