ARMOUR Residential REIT, Inc. Plans Monthly Dividend of $0.19 (ARR)
ARMOUR Residential REIT, Inc. (NYSE:ARR) declared a monthly dividend on Tuesday, August 29th, Wall Street Journal reports. Investors of record on Friday, September 15th will be given a dividend of 0.19 per share by the real estate investment trust on Thursday, September 28th. This represents a $2.28 dividend on an annualized basis and a yield of 8.65%. The ex-dividend date of this dividend is Thursday, September 14th.
ARMOUR Residential REIT has decreased its dividend payment by an average of 22.5% per year over the last three years and has raised its dividend annually for the last 2 consecutive years. ARMOUR Residential REIT has a dividend payout ratio of 85.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Research analysts expect ARMOUR Residential REIT to earn $2.41 per share next year, which means the company should continue to be able to cover its $2.28 annual dividend with an expected future payout ratio of 94.6%.
Shares of ARMOUR Residential REIT (NYSE:ARR) traded down 0.64% during midday trading on Tuesday, hitting $26.37. 331,556 shares of the company’s stock were exchanged. The company has a 50-day moving average of $25.63 and a 200-day moving average of $24.45. ARMOUR Residential REIT has a 52 week low of $20.29 and a 52 week high of $27.60. The firm has a market cap of $1.09 billion, a price-to-earnings ratio of 3.47 and a beta of 0.78.
ARMOUR Residential REIT (NYSE:ARR) last announced its quarterly earnings results on Wednesday, July 26th. The real estate investment trust reported $0.69 EPS for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.07. The business had revenue of $39.06 million during the quarter, compared to analyst estimates of $34.53 million. ARMOUR Residential REIT had a net margin of 114.11% and a return on equity of 9.26%. During the same quarter in the previous year, the business posted $0.63 EPS. Equities research analysts expect that ARMOUR Residential REIT will post $2.68 EPS for the current fiscal year.
A number of analysts have commented on ARR shares. BidaskClub lowered shares of ARMOUR Residential REIT from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 30th. TheStreet upgraded shares of ARMOUR Residential REIT from a “d” rating to a “c” rating in a research note on Wednesday, May 24th. Finally, ValuEngine upgraded shares of ARMOUR Residential REIT from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a strong buy rating to the stock. ARMOUR Residential REIT currently has a consensus rating of “Buy” and an average price target of $23.67.
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In other ARMOUR Residential REIT news, COO Mark Gruber purchased 2,000 shares of the firm’s stock in a transaction on Monday, July 31st. The stock was acquired at an average price of $25.33 per share, for a total transaction of $50,660.00. Following the purchase, the chief operating officer now owns 15,619 shares of the company’s stock, valued at approximately $395,629.27. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.50% of the company’s stock.
ARMOUR Residential REIT Company Profile
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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