ARMOUR Residential REIT (NYSE:ARR) Shares Gap Down to $5.07

ARMOUR Residential REIT, Inc. (NYSE:ARR) gapped down before the market opened on Wednesday . The stock had previously closed at $5.07, but opened at $4.78. ARMOUR Residential REIT shares last traded at $4.90, with a volume of 3,858,827 shares.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on ARMOUR Residential REIT in a research report on Thursday, August 17th. They set a “sell” rating for the company.

ARMOUR Residential REIT Trading Up 0.2 %

The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of -7.20 and a beta of 1.22. The company has a fifty day moving average price of $5.07 and a 200-day moving average price of $5.13.

ARMOUR Residential REIT shares are going to reverse split on the morning of Monday, October 2nd. The 1-5 reverse split was announced on Monday, October 2nd. The number of shares owned by shareholders will be adjusted after the market closes on Monday, October 2nd.

ARMOUR Residential REIT Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Friday, September 15th will be issued a dividend of $0.08 per share. The ex-dividend date is Thursday, September 14th. This represents a $0.96 annualized dividend and a dividend yield of 19.55%. ARMOUR Residential REIT’s dividend payout ratio is -141.17%.

Institutional Investors Weigh In On ARMOUR Residential REIT

Institutional investors have recently made changes to their positions in the company. LPL Financial LLC raised its stake in shares of ARMOUR Residential REIT by 111.1% in the 4th quarter. LPL Financial LLC now owns 167,121 shares of the real estate investment trust’s stock valued at $941,000 after acquiring an additional 87,971 shares in the last quarter. Van ECK Associates Corp increased its position in shares of ARMOUR Residential REIT by 56.2% during the first quarter. Van ECK Associates Corp now owns 943,065 shares of the real estate investment trust’s stock valued at $4,951,000 after purchasing an additional 339,206 shares during the period. First Trust Direct Indexing L.P. bought a new stake in shares of ARMOUR Residential REIT during the first quarter valued at approximately $60,000. KBC Group NV increased its position in shares of ARMOUR Residential REIT by 80.7% during the first quarter. KBC Group NV now owns 14,612 shares of the real estate investment trust’s stock valued at $77,000 after purchasing an additional 6,524 shares during the period. Finally, Pinnacle Wealth Planning Services Inc. bought a new stake in shares of ARMOUR Residential REIT during the first quarter valued at approximately $144,000. 42.72% of the stock is currently owned by institutional investors and hedge funds.

About ARMOUR Residential REIT

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.