ARMOUR Residential REIT (NYSE:ARR) Sets New 52-Week Low at $7.02

ARMOUR Residential REIT, Inc. (NYSE:ARRGet Rating)’s stock price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $7.02 and last traded at $7.02, with a volume of 56395 shares. The stock had previously closed at $7.49.

ARR has been the subject of several recent research reports. Credit Suisse Group reduced their price target on ARMOUR Residential REIT from $10.00 to $9.00 and set a “neutral” rating for the company in a research report on Thursday, March 10th. StockNews.com initiated coverage on ARMOUR Residential REIT in a research report on Thursday, March 31st. They set a “sell” rating for the company. B. Riley reduced their price target on ARMOUR Residential REIT from $11.00 to $9.50 and set a “neutral” rating for the company in a research report on Tuesday, February 22nd. Finally, Barclays reduced their price target on ARMOUR Residential REIT from $8.00 to $6.00 in a research report on Friday, May 27th.

The stock has a 50-day moving average price of $7.65 and a 200 day moving average price of $8.64.

ARMOUR Residential REIT (NYSE:ARRGet Rating) last posted its quarterly earnings data on Wednesday, April 27th. The real estate investment trust reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. ARMOUR Residential REIT had a positive return on equity of 8.60% and a negative net margin of 128.09%. Analysts forecast that ARMOUR Residential REIT, Inc. will post 1.08 EPS for the current fiscal year.

The company also recently declared a monthly dividend, which will be paid on Wednesday, June 29th. Stockholders of record on Wednesday, June 15th will be paid a $0.10 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 17.44%. The ex-dividend date of this dividend is Tuesday, June 14th. ARMOUR Residential REIT’s dividend payout ratio is presently -74.07%.

Large investors have recently modified their holdings of the company. Aaron Wealth Advisors LLC acquired a new stake in shares of ARMOUR Residential REIT in the first quarter worth approximately $295,000. PNC Financial Services Group Inc. boosted its stake in ARMOUR Residential REIT by 66.4% during the first quarter. PNC Financial Services Group Inc. now owns 4,766 shares of the real estate investment trust’s stock worth $41,000 after buying an additional 1,901 shares during the last quarter. Penserra Capital Management LLC acquired a new position in ARMOUR Residential REIT during the third quarter worth $83,000. Profund Advisors LLC acquired a new position in ARMOUR Residential REIT during the fourth quarter worth $98,000. Finally, Guggenheim Capital LLC acquired a new position in ARMOUR Residential REIT during the fourth quarter worth $110,000. 51.92% of the stock is currently owned by hedge funds and other institutional investors.

About ARMOUR Residential REIT (NYSE:ARR)

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.

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