Short Interest in ARMOUR Residential REIT, Inc. (NYSE:ARR) Declines By 10.1%
ARMOUR Residential REIT, Inc. (NYSE:ARR) was the recipient of a significant decline in short interest in January. As of January 31st, there was short interest totalling 2,400,000 shares, a decline of 10.1% from the January 15th total of 2,670,000 shares. Based on an average trading volume of 611,600 shares, the days-to-cover ratio is presently 3.9 days. Approximately 4.1% of the shares of the stock are short sold.
Institutional investors and hedge funds have recently modified their holdings of the stock. Global Retirement Partners LLC purchased a new position in ARMOUR Residential REIT in the 4th quarter worth about $27,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in ARMOUR Residential REIT by 45.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,892 shares of the real estate investment trust’s stock worth $70,000 after purchasing an additional 1,214 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in ARMOUR Residential REIT by 160.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,777 shares of the real estate investment trust’s stock worth $85,000 after purchasing an additional 2,945 shares in the last quarter. Victory Capital Management Inc. increased its stake in ARMOUR Residential REIT by 7.6% in the 4th quarter. Victory Capital Management Inc. now owns 9,842 shares of the real estate investment trust’s stock worth $176,000 after purchasing an additional 691 shares in the last quarter. Finally, Amalgamated Bank purchased a new position in ARMOUR Residential REIT in the 4th quarter worth about $180,000. 62.65% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have commented on ARR. LADENBURG THALM/SH SH upgraded shares of ARMOUR Residential REIT from a “neutral” rating to a “buy” rating and set a $18.00 price target on the stock in a research report on Thursday, October 24th. Zacks Investment Research upgraded shares of ARMOUR Residential REIT from a “sell” rating to a “hold” rating in a research report on Thursday, December 19th. Finally, Nomura reiterated a “hold” rating and issued a $20.00 price target on shares of ARMOUR Residential REIT in a research report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. ARMOUR Residential REIT currently has a consensus rating of “Hold” and an average price target of $19.75.
The business also recently declared a monthly dividend, which will be paid on Thursday, February 27th. Investors of record on Friday, February 14th will be paid a $0.17 dividend. The ex-dividend date is Thursday, February 13th. This represents a $2.04 dividend on an annualized basis and a yield of 10.21%. ARMOUR Residential REIT’s dividend payout ratio is currently 81.60%.
About ARMOUR Residential REIT
ARMOUR Residential REIT, Inc invests in residential mortgage backed securities in the United States. The company is managed by ARMOUR Capital Management LP. Its securities portfolio primarily consists of the United States Government-sponsored entity's (GSE) and the Government National Mortgage Administration's issued or guaranteed securities backed by fixed rate, hybrid adjustable rate, and adjustable rate home loans, as well as unsecured notes and bonds issued by the GSE and the United States treasuries; and money market instruments.
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