Summit Securities Group LLC Decreases Stock Holdings in ARMOUR Residential REIT, Inc. (NYSE:ARR)

Summit Securities Group LLC cut its holdings in shares of ARMOUR Residential REIT, Inc. (NYSE:ARR) by 33.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,300 shares of the real estate investment trust’s stock after selling 2,700 shares during the period. Summit Securities Group LLC’s holdings in ARMOUR Residential REIT were worth $100,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in ARR. Jupiter Asset Management Ltd. bought a new position in shares of ARMOUR Residential REIT in the 4th quarter worth approximately $19,865,000. Vanguard Group Inc. increased its position in ARMOUR Residential REIT by 17.4% during the 4th quarter. Vanguard Group Inc. now owns 6,046,157 shares of the real estate investment trust’s stock valued at $114,031,000 after buying an additional 895,433 shares in the last quarter. Norges Bank bought a new stake in ARMOUR Residential REIT in the fourth quarter worth $2,619,000. Van ECK Associates Corp increased its holdings in shares of ARMOUR Residential REIT by 36.7% during the fourth quarter. Van ECK Associates Corp now owns 449,871 shares of the real estate investment trust’s stock valued at $8,485,000 after acquiring an additional 120,718 shares in the last quarter. Finally, Segall Bryant & Hamill LLC bought a new stake in ARMOUR Residential REIT during the 4th quarter valued at about $1,848,000. 54.17% of the stock is currently owned by institutional investors.

ARMOUR Residential REIT Stock Down 2.9 %

NYSE ARR opened at $17.07 on Friday. The business has a 50-day moving average price of $18.70 and a 200-day moving average price of $19.10. The firm has a market cap of $1.36 billion, a price-to-earnings ratio of -39.69 and a beta of 1.53. ARMOUR Residential REIT, Inc. has a twelve month low of $16.96 and a twelve month high of $21.93.

ARMOUR Residential REIT Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, April 29th. Stockholders of record on Tuesday, April 15th will be issued a $0.24 dividend. This represents a $2.88 annualized dividend and a dividend yield of 16.88%. The ex-dividend date is Tuesday, April 15th. ARMOUR Residential REIT’s dividend payout ratio (DPR) is presently -669.77%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. BTIG Research assumed coverage on shares of ARMOUR Residential REIT in a report on Monday, February 10th. They issued a “neutral” rating for the company. StockNews.com cut shares of ARMOUR Residential REIT from a “hold” rating to a “sell” rating in a report on Friday, February 14th. JMP Securities reaffirmed a “market perform” rating on shares of ARMOUR Residential REIT in a report on Thursday, January 23rd. Finally, B. Riley upgraded ARMOUR Residential REIT to a “hold” rating in a research note on Tuesday, January 7th. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $20.50.

Insider Buying and Selling at ARMOUR Residential REIT

In related news, Director Stewart J. Paperin sold 24,852 shares of the stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $18.78, for a total value of $466,720.56. Following the transaction, the director now owns 363 shares of the company’s stock, valued at $6,817.14. This represents a 98.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert C. Hain sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $18.07, for a total transaction of $45,175.00. Following the completion of the sale, the director now directly owns 6,793 shares of the company’s stock, valued at $122,749.51. The trade was a 26.90 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.

ARMOUR Residential REIT 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.