ARMOUR Residential REIT (NYSE:ARR) Hits New 52-Week High on Analyst Upgrade

Shares of ARMOUR Residential REIT, Inc. (NYSE:ARR) reached a new 52-week high on Friday after Jones Trading upgraded the stock from a hold rating to a buy rating. Jones Trading now has a $20.50 price target on the stock. ARMOUR Residential REIT traded as high as $19.31 and last traded at $19.1760, with a volume of 5106253 shares traded. The stock had previously closed at $18.82.

Other analysts have also recently issued reports about the stock. Weiss Ratings reissued a “sell (d)” rating on shares of ARMOUR Residential REIT in a report on Wednesday, October 8th. Zacks Research lowered ARMOUR Residential REIT from a “hold” rating to a “strong sell” rating in a report on Thursday, December 18th. UBS Group restated a “neutral” rating and set a $16.00 price objective on shares of ARMOUR Residential REIT in a research report on Wednesday, October 8th. Finally, Compass Point started coverage on ARMOUR Residential REIT in a research note on Monday, December 15th. They issued a “buy” rating and a $18.50 target price on the stock. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $18.33.

Insider Transactions at ARMOUR Residential REIT

In other ARMOUR Residential REIT news, Director Robert C. Hain sold 6,833 shares of the firm’s stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $18.06, for a total transaction of $123,403.98. Following the transaction, the director owned 1,010 shares of the company’s stock, valued at approximately $18,240.60. This trade represents a 87.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.35% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ARMOUR Residential REIT

Hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC raised its stake in ARMOUR Residential REIT by 217.5% during the 4th quarter. GAMMA Investing LLC now owns 1,721 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 1,179 shares during the period. Quarry LP increased its stake in shares of ARMOUR Residential REIT by 620.6% in the third quarter. Quarry LP now owns 1,823 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 1,570 shares during the last quarter. Fifth Third Bancorp raised its holdings in shares of ARMOUR Residential REIT by 184.3% during the second quarter. Fifth Third Bancorp now owns 2,198 shares of the real estate investment trust’s stock worth $37,000 after acquiring an additional 1,425 shares in the last quarter. Allworth Financial LP grew its stake in ARMOUR Residential REIT by 139.1% in the second quarter. Allworth Financial LP now owns 2,675 shares of the real estate investment trust’s stock valued at $45,000 after purchasing an additional 1,556 shares in the last quarter. Finally, Danske Bank A S acquired a new position in ARMOUR Residential REIT in the third quarter worth approximately $42,000. Hedge funds and other institutional investors own 54.17% of the company’s stock.

ARMOUR Residential REIT Stock Up 1.7%

The stock has a market cap of $2.14 billion, a P/E ratio of 478.63 and a beta of 1.44. The firm’s 50-day moving average is $17.37 and its two-hundred day moving average is $16.33.

ARMOUR Residential REIT (NYSE:ARR) last released its quarterly earnings results on Wednesday, October 22nd. The real estate investment trust reported $0.72 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.03). The business had revenue of $210.90 million for the quarter, compared to the consensus estimate of $63.25 million. ARMOUR Residential REIT had a net margin of 9.01% and a return on equity of 15.37%. During the same quarter in the prior year, the business posted $1.00 EPS. Analysts anticipate that ARMOUR Residential REIT, Inc. will post 3.8 earnings per share for the current fiscal year.

ARMOUR Residential REIT Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, January 29th. Investors of record on Thursday, January 15th will be issued a dividend of $0.24 per share. This represents a c) annualized dividend and a dividend yield of 15.1%. The ex-dividend date of this dividend is Thursday, January 15th. ARMOUR Residential REIT’s dividend payout ratio is currently 7,200.00%.

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.