Armour Residential REIT Inc. (ARR) Downgraded by Zacks Investment Research
Armour Residential REIT Inc. (NYSE:ARR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday.
According to Zacks, “ARMOUR Residential REIT, Inc. invests primarily in residential mortgage-backed securities issued or guaranteed by a United States Government-chartered entity. “
A number of other research analysts have also recently issued reports on the company. Deutsche Bank AG lifted their price target on Armour Residential REIT from $21.00 to $21.80 and gave the company a “hold” rating in a report on Thursday, August 4th. National Securities reaffirmed a “sell” rating and issued a $16.00 price target on shares of Armour Residential REIT in a report on Monday, August 8th. Credit Suisse Group AG reaffirmed a “sell” rating and issued a $22.00 price target on shares of Armour Residential REIT in a report on Friday, September 9th. Finally, Barclays PLC lifted their price target on Armour Residential REIT from $18.00 to $21.00 and gave the company an “underweight” rating in a report on Thursday, August 4th. Five analysts have rated the stock with a sell rating and three have given a hold rating to the stock. The stock currently has an average rating of “Sell” and an average price target of $21.35.
Shares of Armour Residential REIT (NYSE:ARR) traded down 1.16% on Tuesday, hitting $22.11. 564,908 shares of the company’s stock traded hands. The company’s market cap is $811.50 million. Armour Residential REIT has a 1-year low of $16.61 and a 1-year high of $23.23. The firm’s 50-day moving average price is $22.28 and its 200 day moving average price is $21.07.
Armour Residential REIT (NYSE:ARR) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $0.63 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.71 by $0.08. Armour Residential REIT had a negative net margin of 113.98% and a positive return on equity of 13.00%. During the same period in the prior year, the firm earned $0.12 EPS. On average, equities research analysts expect that Armour Residential REIT will post $3.50 earnings per share for the current year.
The company also recently disclosed a monthly dividend, which will be paid on Thursday, October 27th. Shareholders of record on Friday, October 14th will be issued a dividend of $0.22 per share. The ex-dividend date is Wednesday, October 12th. This represents a $2.64 annualized dividend and a yield of 11.94%. Armour Residential REIT’s dividend payout ratio is currently -26.80%.
In related news, CEO Jeffrey J. Zimmer bought 10,000 shares of the firm’s stock in a transaction dated Monday, August 22nd. The stock was bought at an average cost of $22.11 per share, for a total transaction of $221,100.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.20% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Norges Bank bought a new position in Armour Residential REIT during the fourth quarter valued at about $9,152,000. Nisa Investment Advisors L.L.C. bought a new position in Armour Residential REIT during the first quarter valued at about $398,000. Virginia Retirement System bought a new position in Armour Residential REIT during the first quarter valued at about $457,000. IFP Advisors Inc raised its position in Armour Residential REIT by 277.6% in the first quarter. IFP Advisors Inc now owns 7,276 shares of the company’s stock valued at $157,000 after buying an additional 5,349 shares during the last quarter. Finally, Prudential Financial Inc. bought a new position in Armour Residential REIT during the first quarter valued at about $1,687,000. Institutional investors own 40.48% 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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