StockNews.com Downgrades ARMOUR Residential REIT (NYSE:ARR) to Sell

StockNews.com cut shares of ARMOUR Residential REIT (NYSE:ARR) from a hold rating to a sell rating in a report published on Wednesday morning.

Other equities research analysts also recently issued research reports about the company. Janney Montgomery Scott started coverage on ARMOUR Residential REIT in a report on Thursday, June 6th. They issued a neutral rating and a $20.00 price objective for the company. B. Riley increased their price objective on ARMOUR Residential REIT from $20.00 to $21.00 and gave the company a neutral rating in a report on Monday, July 29th. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. According to data from MarketBeat.com, ARMOUR Residential REIT has a consensus rating of Hold and a consensus price target of $19.83.

ARMOUR Residential REIT Stock Up 0.4 %

Shares of ARR opened at $20.09 on Wednesday. The stock has a market capitalization of $979.43 million, a P/E ratio of -27.90 and a beta of 1.51. ARMOUR Residential REIT has a twelve month low of $13.31 and a twelve month high of $25.40. The company has a 50 day moving average of $20.11 and a 200-day moving average of $19.42.

ARMOUR Residential REIT (NYSE:ARR) last issued 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. The company had revenue of $129.93 million during the quarter, compared to analysts’ expectations of $28.47 million. ARMOUR Residential REIT had a negative net margin of 19.85% and a positive return on equity of 16.64%. On average, sell-side analysts anticipate that ARMOUR Residential REIT will post 3.81 earnings per share for the current fiscal year.

ARMOUR Residential REIT Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th will be issued a $0.24 dividend. This represents a $2.88 annualized dividend and a dividend yield of 14.34%. The ex-dividend date is Thursday, August 15th. ARMOUR Residential REIT’s payout ratio is presently -400.00%.

Institutional Investors Weigh In On ARMOUR Residential REIT

Several hedge funds have recently added to or reduced their stakes in the business. Van ECK Associates Corp lifted its holdings in ARMOUR Residential REIT by 15.8% during the 2nd quarter. Van ECK Associates Corp now owns 349,241 shares of the real estate investment trust’s stock valued at $6,768,000 after purchasing an additional 47,735 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in ARMOUR Residential REIT by 2.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 338,652 shares of the real estate investment trust’s stock valued at $6,563,000 after purchasing an additional 6,509 shares during the last quarter. Rhumbline Advisers lifted its holdings in ARMOUR Residential REIT by 4.2% during the 2nd quarter. Rhumbline Advisers now owns 149,834 shares of the real estate investment trust’s stock valued at $2,904,000 after purchasing an additional 6,088 shares during the last quarter. Susquehanna Fundamental Investments LLC lifted its holdings in ARMOUR Residential REIT by 76.3% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 138,140 shares of the real estate investment trust’s stock valued at $2,677,000 after purchasing an additional 59,791 shares during the last quarter. Finally, Public Sector Pension Investment Board lifted its holdings in ARMOUR Residential REIT by 5.5% during the 2nd quarter. Public Sector Pension Investment Board now owns 107,251 shares of the real estate investment trust’s stock valued at $2,079,000 after purchasing an additional 5,581 shares during the last quarter. Institutional investors and hedge funds own 54.17% of the company’s stock.

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.