BidaskClub Upgrades ARMOUR Residential REIT, Inc. (ARR) to Strong-Buy
ARMOUR Residential REIT, Inc. (NYSE:ARR) was upgraded by equities researchers at BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Thursday.
A number of other equities analysts have also issued reports on the company. TheStreet raised ARMOUR Residential REIT from a “d” rating to a “c” rating in a report on Wednesday, May 24th. ValuEngine raised ARMOUR Residential REIT from a “buy” rating to a “strong-buy” rating in a report on Friday, June 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $23.67.
ARMOUR Residential REIT (ARR) traded up 0.35% during mid-day trading on Thursday, reaching $25.80. The company’s stock had a trading volume of 627,205 shares. The stock’s 50 day moving average is $25.48 and its 200 day moving average is $24.10. ARMOUR Residential REIT has a one year low of $20.29 and a one year high of $27.60. The firm has a market cap of $1.06 billion, a PE ratio of 3.39 and a beta of 0.78.
ARMOUR Residential REIT (NYSE:ARR) last issued its quarterly earnings data on Wednesday, July 26th. The real estate investment trust reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.07. The company had revenue of $39.06 million for the quarter, compared to analyst estimates of $34.53 million. ARMOUR Residential REIT had a return on equity of 9.26% and a net margin of 114.11%. During the same quarter last year, the company posted $0.63 earnings per share. On average, analysts anticipate that ARMOUR Residential REIT will post $2.68 EPS for the current year.
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In related news, COO Mark Gruber purchased 2,000 shares of the stock in a transaction that occurred on Monday, July 31st. The shares were purchased at an average price of $25.33 per share, with a total value of $50,660.00. Following the completion of the acquisition, the chief operating officer now directly owns 15,619 shares in the company, valued at approximately $395,629.27. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 1.20% of the company’s stock.
A number of large investors have recently made changes to their positions in ARR. Global X Management Co. LLC acquired a new stake in shares of ARMOUR Residential REIT during the first quarter worth $18,035,000. Norges Bank acquired a new stake in shares of ARMOUR Residential REIT during the fourth quarter worth $9,122,000. Renaissance Technologies LLC raised its stake in shares of ARMOUR Residential REIT by 221.4% in the first quarter. Renaissance Technologies LLC now owns 547,318 shares of the real estate investment trust’s stock worth $12,430,000 after buying an additional 377,037 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in shares of ARMOUR Residential REIT during the second quarter worth $5,351,000. Finally, Vanguard Group Inc. raised its stake in shares of ARMOUR Residential REIT by 7.0% in the first quarter. Vanguard Group Inc. now owns 3,076,733 shares of the real estate investment trust’s stock worth $69,873,000 after buying an additional 200,754 shares in the last quarter. 42.74% of the stock is currently owned by institutional investors.
About ARMOUR Residential REIT
ARMOUR Residential REIT, Inc is a real estate investment trust. The Company invests in and manages a leveraged portfolio of mortgage-backed securities (MBS) and mortgage loans. The Company invests in residential mortgage backed securities issued or guaranteed by a United States Government-sponsored enterprise (GSE), such as the Federal National Mortgage Association or the Federal Home Loan Mortgage Corporation, or a government agency, such as the Government National Mortgage Association (collectively, Agency Securities).
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