Armour Residential REIT Inc. (NYSE:ARR) dropped 1.8% during mid-day trading on Thursday . The stock traded as low as $22.44 and last traded at $22.47, with a volume of 279,536 shares traded. The stock had previously closed at $22.89.

A number of brokerages recently issued reports on ARR. Zacks Investment Research downgraded Armour Residential REIT from a “hold” rating to a “sell” rating in a research report on Monday, April 25th. Credit Suisse Group AG reiterated a “sell” rating and issued a $20.00 price objective on shares of Armour Residential REIT in a research report on Wednesday, August 3rd. Deutsche Bank AG increased their price objective on Armour Residential REIT from $21.00 to $21.80 and gave the stock a “hold” rating in a research report on Thursday, August 4th. National Securities reiterated a “neutral” rating and issued a $21.00 price objective on shares of Armour Residential REIT in a research report on Monday, April 18th. Finally, Ladenburg Thalmann downgraded Armour Residential REIT from a “buy” rating to a “neutral” rating in a research report on Wednesday, May 4th. Four equities research analysts have rated the stock with a sell rating and four have given a hold rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $21.10.

The stock’s market cap is $821.05 million. The firm’s 50 day moving average price is $20.90 and its 200-day moving average price is $20.29.

Armour Residential REIT (NYSE:ARR) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by $0.08. During the same quarter in the previous year, the company earned $0.12 EPS. Analysts forecast that Armour Residential REIT Inc. will post $3.50 EPS for the current fiscal year.

The firm also recently disclosed a monthly dividend, which will be paid on Monday, August 29th. Stockholders of record on Monday, August 15th will be given a dividend of $0.22 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 11.80%. The ex-dividend date is Thursday, August 11th.

A hedge fund recently raised its stake in Armour Residential REIT stock. California Public Employees Retirement System raised its position in shares of Armour Residential REIT Inc. (NYSE:ARR) by 7.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 154,275 shares of the company’s stock after buying an additional 11,200 shares during the period. California Public Employees Retirement System owned about 0.39% of Armour Residential REIT worth $3,357,000 as of its most recent filing with the SEC.

ARMOUR Residential REIT, Inc (ARMOUR) is an externally managed real estate investment trust (REIT). The Company invests in residential mortgage backed securities issued or guaranteed by the United States Government-sponsored entity (GSE), such as the Federal National Mortgage Association (Fannie Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac) or guaranteed by the Government National Mortgage Administration (Ginnie Mae) (collectively, Agency Securities).

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