ARMOUR Residential REIT, Inc. (NYSE:ARR) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Tuesday.

According to Zacks, “ARMOUR Residential REIT, Inc. invests primarily in residential mortgage-backed securities issued or guaranteed by a United States Government-chartered entity. “

ARR has been the topic of a number of other reports. BidaskClub lowered ARMOUR Residential REIT from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 30th. ValuEngine raised ARMOUR Residential REIT from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. Two analysts have rated the stock with a hold rating and two have issued a strong buy rating to the company’s stock. ARMOUR Residential REIT currently has an average rating of “Buy” and a consensus target price of $24.00.

ARMOUR Residential REIT (ARR) traded up 0.11% during mid-day trading on Tuesday, hitting $27.16. 635,676 shares of the stock were exchanged. The stock has a 50 day moving average price of $26.62 and a 200 day moving average price of $25.61. The company has a market capitalization of $1.12 billion, a PE ratio of 3.57 and a beta of 0.77. ARMOUR Residential REIT has a 1-year low of $20.29 and a 1-year high of $27.60.

ARMOUR Residential REIT (NYSE:ARR) last issued its earnings results on Wednesday, July 26th. The real estate investment trust reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.07. ARMOUR Residential REIT had a return on equity of 9.26% and a net margin of 114.11%. The company had revenue of $39.06 million for the quarter, compared to analyst estimates of $34.53 million. During the same period in the prior year, the firm earned $0.63 earnings per share. On average, equities analysts anticipate that ARMOUR Residential REIT will post $2.68 earnings per share for the current fiscal year.

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In related news, COO Mark Gruber purchased 2,000 shares of the stock in a transaction that occurred on Monday, July 31st. The stock was acquired at an average cost of $25.33 per share, with a total value of $50,660.00. Following the transaction, the chief operating officer now owns 15,619 shares of the company’s stock, valued at approximately $395,629.27. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.50% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its position in ARMOUR Residential REIT by 5.8% in the 2nd quarter. BlackRock Inc. now owns 3,626,651 shares of the real estate investment trust’s stock valued at $90,666,000 after buying an additional 198,425 shares during the last quarter. Vanguard Group Inc. raised its position in ARMOUR Residential REIT by 4.7% in the 2nd quarter. Vanguard Group Inc. now owns 3,220,482 shares of the real estate investment trust’s stock valued at $80,512,000 after buying an additional 143,749 shares during the last quarter. Global X Management Co. LLC raised its position in ARMOUR Residential REIT by 6.1% in the 2nd quarter. Global X Management Co. LLC now owns 842,638 shares of the real estate investment trust’s stock valued at $21,066,000 after buying an additional 48,510 shares during the last quarter. State Street Corp raised its position in ARMOUR Residential REIT by 4.5% in the 2nd quarter. State Street Corp now owns 819,433 shares of the real estate investment trust’s stock valued at $20,483,000 after buying an additional 35,592 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in ARMOUR Residential REIT by 2.3% in the 2nd quarter. Renaissance Technologies LLC now owns 560,121 shares of the real estate investment trust’s stock valued at $14,003,000 after buying an additional 12,803 shares during the last quarter. 46.07% of the stock is owned by institutional investors and hedge funds.

About ARMOUR Residential REIT

ARMOUR Residential REIT, Inc is a real estate investment trust. The Company invests in and manages a leveraged portfolio of mortgage-backed securities (MBS) and mortgage loans. The Company invests in residential mortgage backed securities issued or guaranteed by a United States Government-sponsored enterprise (GSE), such as the Federal National Mortgage Association or the Federal Home Loan Mortgage Corporation, or a government agency, such as the Government National Mortgage Association (collectively, Agency Securities).

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