Armour Residential REIT Inc. (ARR) Upgraded at Nomura
Nomura upgraded shares of Armour Residential REIT Inc. (NYSE:ARR) from a reduce rating to a neutral rating in a research note released on Wednesday. They currently have $24.00 price target on the stock, up from their previous price target of $19.00.
Several other research firms also recently weighed in on ARR. National Securities reissued a sell rating and issued a $16.00 price objective on shares of Armour Residential REIT in a report on Monday, August 8th. Credit Suisse Group AG reissued a sell rating and issued a $22.00 price objective on shares of Armour Residential REIT in a report on Friday, September 9th. Deutsche Bank AG increased their price objective on Armour Residential REIT from $21.00 to $21.80 and gave the company a hold rating in a report on Thursday, August 4th. Barclays PLC increased their price objective on Armour Residential REIT from $18.00 to $21.00 and gave the company an underweight rating in a report on Thursday, August 4th. Finally, Zacks Investment Research downgraded Armour Residential REIT from a hold rating to a sell rating in a report on Tuesday, October 4th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. Armour Residential REIT presently has an average rating of Hold and an average target price of $22.11.
Shares of Armour Residential REIT (NYSE:ARR) opened at 22.72 on Wednesday. Armour Residential REIT has a one year low of $16.61 and a one year high of $23.40. The company has a 50-day moving average of $22.46 and a 200 day moving average of $21.27. The stock’s market cap is $834.12 million.
Armour Residential REIT (NYSE:ARR) last announced its quarterly earnings results on Wednesday, November 2nd. The company reported $0.68 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.05. Armour Residential REIT had a negative net margin of 7.51% and a positive return on equity of 11.54%. During the same period last year, the company earned $1.11 EPS. On average, equities analysts forecast that Armour Residential REIT will post $3.50 earnings per share for the current fiscal year.
The company also recently declared a monthly dividend, which will be paid on Tuesday, December 27th. Stockholders of record on Thursday, December 15th will be given a $0.22 dividend. This represents a $2.64 dividend on an annualized basis and a dividend yield of 11.62%. The ex-dividend date of this dividend is Tuesday, December 13th. Armour Residential REIT’s dividend payout ratio is currently -170.32%.
In other news, CEO Jeffrey J. Zimmer purchased 10,000 shares of the company’s stock in a transaction dated Monday, August 22nd. The stock was acquired at an average price of $22.11 per share, for a total transaction of $221,100.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.20% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in ARR. Teacher Retirement System of Texas boosted its position 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 in the last quarter. IFP Advisors Inc boosted its position 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 worth $147,000 after buying an additional 81 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Armour Residential REIT during the third quarter worth $174,000. LSV Asset Management purchased a new position in shares of Armour Residential REIT during the third quarter worth $250,000. Finally, Murphy Capital Management Inc. boosted its position 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 worth $248,000 after buying an additional 427 shares in the last quarter. Institutional investors and hedge funds own 40.55% of the company’s stock.
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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