ARMOUR Residential REIT, Inc. (NYSE:ARR) announced a monthly dividend on Wednesday, April 24th, Zacks reports. Stockholders of record on Wednesday, May 15th will be paid a dividend of 0.19 per share by the real estate investment trust on Tuesday, May 28th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 11.32%. The ex-dividend date is Tuesday, May 14th.
ARMOUR Residential REIT has decreased its dividend by an average of 16.3% annually over the last three years. ARMOUR Residential REIT has a payout ratio of 93.1% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Analysts expect ARMOUR Residential REIT to earn $2.55 per share next year, which means the company should continue to be able to cover its $2.28 annual dividend with an expected future payout ratio of 89.4%.
Shares of ARR stock opened at $20.14 on Thursday. ARMOUR Residential REIT has a 12 month low of $19.32 and a 12 month high of $24.07. The stock has a market cap of $1.20 billion, a PE ratio of 8.06 and a beta of 0.62.
ARMOUR Residential REIT (NYSE:ARR) last announced its quarterly earnings results on Wednesday, April 24th. The real estate investment trust reported $0.61 EPS for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.01). ARMOUR Residential REIT had a negative net margin of 37.42% and a positive return on equity of 10.59%. Sell-side analysts anticipate that ARMOUR Residential REIT will post 2.55 EPS for the current fiscal year.
ARR has been the topic of a number of recent research reports. Barclays reissued a “sell” rating and set a $19.00 price target on shares of ARMOUR Residential REIT in a research note on Tuesday, February 19th. Nomura assumed coverage on ARMOUR Residential REIT in a research report on Wednesday, March 27th. They set a “neutral” rating and a $20.00 price objective for the company. TheStreet downgraded ARMOUR Residential REIT from a “c” rating to a “d” rating in a research report on Tuesday, February 19th. Zacks Investment Research upgraded ARMOUR Residential REIT from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a research report on Wednesday, February 20th. Finally, ValuEngine downgraded ARMOUR Residential REIT from a “hold” rating to a “sell” rating in a research report on Monday, April 1st. Two equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $20.67.
In related news, Chairman Daniel C. Staton acquired 12,863 shares of the stock in a transaction dated Friday, March 22nd. The stock was bought at an average cost of $19.51 per share, for a total transaction of $250,957.13. Following the completion of the transaction, the chairman now directly owns 10,377 shares of the company’s stock, valued at $202,455.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO James R. Mountain acquired 1,500 shares of the stock in a transaction dated Tuesday, March 5th. The shares were bought at an average price of $19.77 per share, with a total value of $29,655.00. Following the completion of the transaction, the chief financial officer now directly owns 41,000 shares of the company’s stock, valued at $810,570. The disclosure for this purchase can be found here. 1.30% of the stock is owned by company insiders.
About ARMOUR Residential REIT
ARMOUR Residential REIT, Inc invests in residential mortgage backed securities in the United States. The company is managed by ARMOUR Capital Management LP. Its 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; and money market instruments.
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