Armour Residential REIT Inc. (ARR) Rating Increased to Hold at Zacks Investment Research
Armour Residential REIT Inc. (NYSE:ARR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors 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. “
Other research analysts have also recently issued research reports about the stock. Credit Suisse Group AG reiterated a “sell” rating and issued a $20.00 price target on shares of Armour Residential REIT in a report on Wednesday, August 3rd. National Securities reiterated a “sell” rating and issued a $16.00 price target on shares of Armour Residential REIT in a report on Monday, August 8th. Deutsche Bank AG upped their price target on shares of Armour Residential REIT from $21.00 to $21.80 and gave the company a “hold” rating in a report on Thursday, August 4th. Finally, Barclays PLC upped their price target on shares of Armour Residential REIT from $18.00 to $21.00 and gave the company an “underweight” rating in a report on Thursday, August 4th. Four investment analysts have rated the stock with a sell rating and four have given a hold rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $21.35.
Shares of Armour Residential REIT (NYSE:ARR) traded down 0.14% on Tuesday, reaching $22.02. 327,297 shares of the company traded hands. The stock has a 50 day moving average of $22.27 and a 200 day moving average of $21.09. The stock’s market cap is $808.20 million. Armour Residential REIT has a 52-week low of $16.61 and a 52-week high of $23.23.
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 quarter last year, the firm posted $0.12 EPS. On average, analysts expect that Armour Residential REIT will post $3.50 earnings per share for the current year.
The company 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 dividend of $0.22 per share. This represents a $2.64 annualized dividend and a yield of 11.99%. The ex-dividend date of this dividend is Wednesday, October 12th. Armour Residential REIT’s dividend payout ratio (DPR) is currently -26.80%.
In other news, CEO Jeffrey J. Zimmer purchased 10,000 shares of the company’s stock in a transaction on Monday, August 22nd. The shares were purchased at an average cost of $22.11 per share, with a total value of $221,100.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.20% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Teacher Retirement System of Texas raised its stake in 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 valued at $103,000 after buying an additional 273 shares during the period. IFP Advisors Inc raised its stake 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 period. Murphy Capital Management Inc. raised its stake in 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 period. Nomura Holdings Inc. purchased a new stake in Armour Residential REIT during the second quarter valued at about $254,000. Finally, BlackRock Inc. raised its stake in 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 period. 40.48% of the stock is currently owned by hedge funds and other institutional investors.
Armour Residential REIT Company Profile
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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