ARMOUR Residential REIT, Inc. to Issue Monthly Dividend of $0.24 (NYSE:ARR)

ARMOUR Residential REIT, Inc. (NYSE:ARR) announced a monthly dividend on Tuesday, September 24th, NASDAQ reports. Stockholders of record on Tuesday, October 15th will be given a dividend of 0.24 per share by the real estate investment trust on Wednesday, October 30th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 14.60%. The ex-dividend date is Tuesday, October 15th.

ARMOUR Residential REIT has a dividend payout ratio of 70.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect ARMOUR Residential REIT to earn $3.96 per share next year, which means the company should continue to be able to cover its $2.88 annual dividend with an expected future payout ratio of 72.7%.

ARMOUR Residential REIT Price Performance

Shares of NYSE:ARR opened at $19.73 on Friday. ARMOUR Residential REIT has a one year low of $13.31 and a one year high of $21.93. The company has a market cap of $961.88 million, a price-to-earnings ratio of -27.40 and a beta of 1.50. The firm has a 50 day simple moving average of $20.22 and a 200 day simple moving average of $19.71.

ARMOUR Residential REIT (NYSE:ARR) last released its quarterly earnings results on Wednesday, July 24th. The real estate investment trust reported $1.08 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.09. ARMOUR Residential REIT had a positive return on equity of 16.64% and a negative net margin of 19.85%. The company had revenue of $129.93 million for the quarter, compared to analysts’ expectations of $28.47 million. As a group, analysts expect that ARMOUR Residential REIT will post 3.81 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on ARR shares. StockNews.com lowered shares of ARMOUR Residential REIT from a “hold” rating to a “sell” rating in a report on Wednesday, August 21st. B. Riley boosted their target price on shares of ARMOUR Residential REIT from $20.00 to $21.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Finally, JMP Securities reiterated a “market perform” rating on shares of ARMOUR Residential REIT in a report on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. According to data from MarketBeat.com, ARMOUR Residential REIT presently has an average rating of “Hold” and an average target price of $19.83.

Insider Buying and Selling

In other news, Chairman Daniel C. Staton bought 10,000 shares of ARMOUR Residential REIT stock in a transaction dated Thursday, October 3rd. The stock was purchased at an average price of $19.86 per share, for a total transaction of $198,600.00. Following the purchase, the chairman now directly owns 24,040 shares in the company, valued at $477,434.40. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.35% of the stock is currently owned by company insiders.

ARMOUR Residential REIT Company Profile

ARMOUR Residential REIT, Inc invests in residential mortgage-backed securities (MBS) in the United States. 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; and unsecured notes and bonds issued by the GSE and the United States treasuries, as well as money market instruments.