Armour Residential REIT Inc. (ARR) Raised to Hold at Zacks Investment Research
According to Zacks, “ARMOUR Residential REIT, Inc. invests primarily in residential mortgage-backed securities issued or guaranteed by a United States Government-chartered entity. “
Several other analysts have also recently commented on ARR. Credit Suisse Group AG restated a sell rating and set a $20.00 price target on shares of Armour Residential REIT in a report on Wednesday, August 3rd. Barclays PLC lifted their target price on shares of Armour Residential REIT from $18.00 to $21.00 and gave the company an underweight rating in a research note on Thursday, August 4th. Deutsche Bank AG lifted their target price on shares of Armour Residential REIT from $21.00 to $21.80 and gave the company a hold rating in a research note on Thursday, August 4th. Finally, National Securities reiterated a sell rating and issued a $16.00 target price on shares of Armour Residential REIT in a research note on Monday, August 8th. Four equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $21.35.
Armour Residential REIT (NYSE:ARR) opened at 22.02 on Tuesday. The firm’s 50-day moving average is $22.23 and its 200-day moving average is $21.12. Armour Residential REIT has a 1-year low of $16.61 and a 1-year high of $23.23. The company’s market capitalization is $808.20 million.
Armour Residential REIT (NYSE:ARR) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.71 by $0.08. Armour Residential REIT had a positive return on equity of 13.00% and a negative net margin of 113.98%. During the same quarter last year, the firm earned $0.12 EPS. Equities research analysts predict that Armour Residential REIT will post $3.50 EPS for the current year.
The company also recently declared a monthly dividend, which will be paid on Thursday, October 27th. Stockholders of record on Friday, October 14th will be given a $0.22 dividend. This represents a $2.64 dividend on an annualized basis and a dividend yield of 11.99%. The ex-dividend date is Wednesday, October 12th. Armour Residential REIT’s dividend payout ratio is -26.80%.
In other news, CEO Jeffrey J. Zimmer purchased 10,000 shares of the company’s stock in a transaction dated Monday, August 22nd. The shares were bought at an average price of $22.11 per share, with a total value of $221,100.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.20% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Whitebox Advisors LLC purchased a new position in Armour Residential REIT during the second quarter worth approximately $15,337,000. UBS Group AG raised its position in shares of Armour Residential REIT by 18.9% in the first quarter. UBS Group AG now owns 393,795 shares of the company’s stock worth $8,478,000 after buying an additional 62,482 shares during the period. Virginia Retirement System bought a new position in shares of Armour Residential REIT during the first quarter worth about $457,000. Nomura Holdings Inc. bought a new position in shares of Armour Residential REIT during the second quarter worth about $254,000. Finally, IFP Advisors Inc raised its position in shares of Armour Residential REIT by 277.6% in the first quarter. IFP Advisors Inc now owns 7,276 shares of the company’s stock worth $157,000 after buying an additional 5,349 shares during the period. 40.48% of the stock is currently owned by institutional investors.
About Armour Residential REIT
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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