Armour Residential REIT Inc. (NYSE:ARR) Receives $20.30 Consensus Target Price from Analysts
Armour Residential REIT Inc. (NYSE:ARR) has been given an average recommendation of “Hold” by the eight analysts that are covering the company. Four analysts have rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $20.30.
A number of research analysts have recently commented on ARR shares. Zacks Investment Research upgraded Armour Residential REIT from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a report on Tuesday, July 12th. Credit Suisse Group AG restated a “sell” rating and set a $20.00 price objective on shares of Armour Residential REIT in a research report on Wednesday, August 3rd. Barclays PLC boosted their price objective on Armour Residential REIT from $18.00 to $21.00 and gave the company an “underweight” rating in a research report on Thursday, August 4th. Deutsche Bank AG boosted their price objective on Armour Residential REIT from $21.00 to $21.80 and gave the company a “hold” rating in a research report on Thursday, August 4th. Finally, National Securities restated a “sell” rating and set a $16.00 price objective on shares of Armour Residential REIT in a research report on Monday, August 8th.
Shares of Armour Residential REIT (NYSE:ARR) opened at 22.54 on Wednesday. The stock’s 50 day moving average is $22.28 and its 200-day moving average is $21.04. Armour Residential REIT has a 52-week low of $16.61 and a 52-week high of $23.23. The firm’s market cap is $827.29 million.
Armour Residential REIT (NYSE:ARR) last issued its quarterly 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 last year, the business earned $0.12 EPS. Equities analysts anticipate that Armour Residential REIT will post $3.50 earnings per share for the current fiscal year.
The business also recently declared a monthly dividend, which will be paid on Thursday, October 27th. Shareholders of record on Friday, October 14th will be given a $0.22 dividend. This represents a $2.64 dividend on an annualized basis and a yield of 11.71%. The ex-dividend date is Wednesday, October 12th. Armour Residential REIT’s dividend payout ratio (DPR) is -26.80%.
In related news, CEO Jeffrey J. Zimmer purchased 10,000 shares of the stock in a transaction on Monday, August 22nd. The shares were purchased at an average cost of $22.11 per share, for a total transaction of $221,100.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.20% of the stock is owned by company insiders.
Hedge funds have recently made changes to their positions in the stock. Teacher Retirement System of Texas boosted its stake in shares of Armour Residential REIT by 5.6% in the second quarter. Teacher Retirement System of Texas now owns 5,158 shares of the company’s stock worth $103,000 after buying an additional 273 shares during the period. IFP Advisors Inc boosted its stake in shares of Armour Residential REIT by 1.1% in the second quarter. IFP Advisors Inc now owns 7,357 shares of the company’s stock valued at $147,000 after buying an additional 81 shares during the last quarter. Murphy Capital Management Inc. boosted its stake in shares of Armour Residential REIT by 3.6% in the second quarter. Murphy Capital Management Inc. now owns 12,429 shares of the company’s stock valued at $248,000 after buying an additional 427 shares during the last quarter. Nomura Holdings Inc. acquired a new stake in shares of Armour Residential REIT during the second quarter valued at approximately $254,000. Finally, BlackRock Inc. boosted its stake in shares of Armour Residential REIT by 216.7% in the second quarter. BlackRock Inc. now owns 13,156 shares of the company’s stock valued at $263,000 after buying an additional 9,002 shares during the last quarter. Hedge funds and other institutional investors own 40.54% of the company’s stock.
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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