ARMOUR Residential REIT (NYSE:ARR) Releases Quarterly Earnings Results, Hits Expectations

ARMOUR Residential REIT (NYSE:ARR) released its quarterly earnings data on Wednesday. The real estate investment trust reported $0.71 EPS for the quarter, hitting the consensus estimate of $0.71, Zacks reports. ARMOUR Residential REIT had a positive return on equity of 15.82% and a negative net margin of 5.09%. The company had revenue of $121.70 million during the quarter, compared to the consensus estimate of $119.84 million.

ARMOUR Residential REIT Trading Down 0.9%

ARR stock traded down $0.12 during midday trading on Friday, reaching $12.57. 314,246 shares of the company’s stock traded hands, compared to its average volume of 3,743,239. ARMOUR Residential REIT has a 52-week low of $12.27 and a 52-week high of $19.31. The stock has a market cap of $1.78 billion, a P/E ratio of 3.39 and a beta of 1.42. The stock’s 50-day moving average is $14.88 and its 200 day moving average is $16.26.

ARMOUR Residential REIT Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, November 27th. Investors of record on Monday, November 16th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Monday, November 16th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 22.9%. ARMOUR Residential REIT’s dividend payout ratio (DPR) is presently 77.42%.

Insider Activity

In other news, Chairman Daniel Staton sold 35,583 shares of the business’s stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $15.86, for a total transaction of $564,346.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.19% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on ARR shares. Zacks Research raised shares of ARMOUR Residential REIT from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 21st. JonesTrading decreased their price objective on shares of ARMOUR Residential REIT from $19.00 to $15.25 and set a “buy” rating for the company in a report on Thursday. Weiss Ratings downgraded shares of ARMOUR Residential REIT from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, August 19th. Finally, B. Riley Financial decreased their target price on shares of ARMOUR Residential REIT from $18.00 to $14.50 and set a “neutral” rating for the company in a research note on Friday. Two analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, ARMOUR Residential REIT currently has an average rating of “Hold” and an average target price of $16.56.

About ARMOUR Residential REIT

ARMOUR Residential REIT, Inc is a real estate investment trust that invests primarily in residential mortgage-backed securities. Its portfolio generally consists of securities issued or guaranteed by U.S. government-sponsored enterprises, including Fannie Mae and Freddie Mac, or by U.S. government agencies such as Ginnie Mae.

The company invests in a range of agency mortgage securities, including fixed-rate and adjustable-rate mortgage pass-through securities, collateralized mortgage obligations, specified pools and to-be-announced securities.