JonesTrading Issues Pessimistic Forecast for ARMOUR Residential REIT (NYSE:ARR) Stock Price

ARMOUR Residential REIT (NYSE:ARR) had its price target cut by equities researchers at JonesTrading from $20.00 to $19.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the real estate investment trust’s stock. JonesTrading’s target price would indicate a potential upside of 7.99% from the stock’s current price.

Several other research firms have also commented on ARR. Weiss Ratings lowered shares of ARMOUR Residential REIT from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, March 20th. Zacks Research upgraded ARMOUR Residential REIT from a “strong sell” rating to a “hold” rating in a report on Friday, March 20th. Finally, Wall Street Zen lowered shares of ARMOUR Residential REIT from a “hold” rating to a “sell” rating in a research note on Saturday, February 21st. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $18.50.

ARMOUR Residential REIT Stock Up 0.5%

Shares of NYSE ARR opened at $17.60 on Thursday. The firm has a 50-day simple moving average of $17.30 and a 200-day simple moving average of $17.23. The stock has a market capitalization of $2.16 billion, a price-to-earnings ratio of 9.16 and a beta of 1.42. ARMOUR Residential REIT has a 52 week low of $13.98 and a 52 week high of $19.31.

ARMOUR Residential REIT (NYSE:ARR) last issued its earnings results on Wednesday, April 22nd. The real estate investment trust reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.03. ARMOUR Residential REIT had a return on equity of 15.39% and a net margin of 27.43%.The business had revenue of $70.71 million for the quarter, compared to analysts’ expectations of $155.79 million. As a group, equities research analysts expect that ARMOUR Residential REIT will post 3.06 EPS for the current year.

Institutional Trading of ARMOUR Residential REIT

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Pictet Asset Management Holding SA grew its position in shares of ARMOUR Residential REIT by 16.0% in the 1st quarter. Pictet Asset Management Holding SA now owns 20,036 shares of the real estate investment trust’s stock valued at $334,000 after buying an additional 2,764 shares during the last quarter. Sterling Capital Management LLC lifted its position in ARMOUR Residential REIT by 262.9% in the first quarter. Sterling Capital Management LLC now owns 23,632 shares of the real estate investment trust’s stock valued at $394,000 after acquiring an additional 17,120 shares during the last quarter. Louisiana State Employees Retirement System acquired a new position in ARMOUR Residential REIT in the first quarter valued at $827,000. World Investment Advisors purchased a new position in shares of ARMOUR Residential REIT during the fourth quarter worth about $198,000. Finally, Corient Private Wealth LLC purchased a new position in ARMOUR Residential REIT during the 4th quarter worth approximately $465,000. Institutional investors and hedge funds own 54.17% of the company’s stock.

ARMOUR Residential REIT Company Profile

ARMOUR Residential REIT (NYSE:ARR) is a mortgage real estate investment trust that was formed in 2008 to acquire and manage a portfolio of residential mortgage-backed securities (RMBS). The company’s investments are primarily agency-sponsored and agency-guaranteed RMBS issued by U.S. government-sponsored enterprises, along with credit risk transfer securities and select non-agency residential and multifamily RMBS. By focusing on high-quality mortgage assets, ARMOUR Residential REIT seeks to generate stable income and preserve capital through diversified exposure to the U.S.