ARMOUR Residential REIT, Inc. (NYSE:ARR – Get Rating) announced a monthly dividend on Friday, March 25th, Zacks reports. Stockholders of record on Monday, April 18th will be given a dividend of 0.10 per share by the real estate investment trust on Friday, April 29th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 14.85%. The ex-dividend date of this dividend is Thursday, April 14th.
ARMOUR Residential REIT has a payout ratio of 115.4% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect ARMOUR Residential REIT to earn $1.00 per share next year, which means the company may not be able to cover its $1.20 annual dividend with an expected future payout ratio of 120.0%.
NYSE ARR opened at $8.08 on Wednesday. ARMOUR Residential REIT has a fifty-two week low of $7.51 and a fifty-two week high of $12.56. The firm has a market capitalization of $776.08 million, a P/E ratio of 62.16 and a beta of 0.97. The stock’s fifty day moving average is $8.51 and its two-hundred day moving average is $9.60.
Several institutional investors have recently made changes to their positions in the company. Royal Bank of Canada lifted its position in shares of ARMOUR Residential REIT by 54.4% during the 2nd quarter. Royal Bank of Canada now owns 15,804 shares of the real estate investment trust’s stock worth $180,000 after purchasing an additional 5,568 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in shares of ARMOUR Residential REIT by 12.8% in the second quarter. Wells Fargo & Company MN now owns 71,260 shares of the real estate investment trust’s stock valued at $813,000 after acquiring an additional 8,092 shares in the last quarter. Morgan Stanley increased its position in ARMOUR Residential REIT by 404.3% during the 2nd quarter. Morgan Stanley now owns 1,131,926 shares of the real estate investment trust’s stock worth $12,926,000 after purchasing an additional 907,467 shares during the period. UBS Group AG boosted its position in shares of ARMOUR Residential REIT by 33.5% during the 3rd quarter. UBS Group AG now owns 173,680 shares of the real estate investment trust’s stock worth $1,872,000 after purchasing an additional 43,569 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in ARMOUR Residential REIT by 19.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 762,414 shares of the real estate investment trust’s stock valued at $8,218,000 after acquiring an additional 121,789 shares in the last quarter. 54.46% of the stock is owned by institutional investors and hedge funds.
Several brokerages recently weighed in on ARR. StockNews.com started coverage on ARMOUR Residential REIT in a research report on Thursday, March 31st. They issued a “sell” rating for the company. Credit Suisse Group lowered their target price on shares of ARMOUR Residential REIT from $10.00 to $9.00 and set a “neutral” rating for the company in a research note on Thursday, March 10th. Zacks Investment Research downgraded shares of ARMOUR Residential REIT from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 23rd. Finally, B. Riley decreased their target price on ARMOUR Residential REIT from $11.00 to $9.50 and set a “neutral” rating on the stock in a research note on Tuesday, February 22nd. Two investment analysts have rated the stock with a sell rating and three have given a hold rating to the company. According to MarketBeat, ARMOUR Residential REIT presently has a consensus rating of “Hold” and a consensus target price of $10.50.
ARMOUR Residential REIT Company Profile (Get Rating)
ARMOUR Residential REIT, Inc invests in residential mortgage-backed securities (MBS) in the United States. The company's 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, as well as money market instruments.
- Get a free copy of the StockNews.com research report on ARMOUR Residential REIT (ARR)
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