ARMOUR Residential REIT (NYSE:ARR) Price Target Cut to $14.50 by Analysts at B. Riley Financial

Key Points

• B. Riley Financial cut ARMOUR Residential REIT’s price target from $18.00 to $14.50 while maintaining a “neutral” rating; the new target implies 14.4% upside from $12.68.
• Analyst sentiment remains mixed, with two Buy, three Hold and one Sell rating, producing a consensus “Hold” rating and an average price target of $16.56.
• ARMOUR reported quarterly EPS of $0.71, matching estimates, while revenue of $121.7 million exceeded forecasts of $119.84 million. Institutional investors and hedge funds own 54.17% of the company.

ARMOUR Residential REIT (NYSE:ARR - Get Free Report) had its target price decreased by research analysts at B. Riley Financial from $18.00 to $14.50 in a research note issued on Friday, Benzinga reports. The firm presently has a "neutral" rating on the real estate investment trust's stock. B. Riley Financial's target price suggests a potential upside of 14.40% from the company's current price.

Several other equities analysts also recently issued reports on the stock. Zacks Research raised shares of ARMOUR Residential REIT from a "strong sell" rating to a "hold" rating in a research note on Tuesday, July 21st. Weiss Ratings downgraded shares of ARMOUR Residential REIT from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Wednesday, August 19th. Finally, JonesTrading decreased their price objective on shares of ARMOUR Residential REIT from $19.00 to $15.25 and set a "buy" rating for the company in a report on Thursday. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, ARMOUR Residential REIT has an average rating of "Hold" and a consensus target price of $16.56.

ARMOUR Residential REIT Price Performance

Shares of NYSE:ARR opened at $12.68 on Friday. The firm has a market capitalization of $1.79 billion, a PE ratio of 4.42 and a beta of 1.42. The firm's 50-day moving average is $14.88 and its two-hundred day moving average is $16.26. ARMOUR Residential REIT has a 1 year low of $12.27 and a 1 year high of $19.31.

ARMOUR Residential REIT (NYSE:ARR - Get Free Report) last announced its quarterly earnings results on Wednesday, October 21st. The real estate investment trust reported $0.71 EPS for the quarter, hitting the consensus estimate of $0.71. ARMOUR Residential REIT had a negative net margin of 5.09% and a positive return on equity of 15.82%. The firm had revenue of $121.70 million for the quarter, compared to analyst estimates of $119.84 million. Analysts expect that ARMOUR Residential REIT will post 2.93 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Chairman Daniel Staton sold 35,583 shares of ARMOUR Residential REIT stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $15.86, for a total value of $564,346.38. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.19% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ARMOUR Residential REIT

Hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp bought a new position in ARMOUR Residential REIT during the 2nd quarter valued at about $13,757,000. State Street Corp increased its position in ARMOUR Residential REIT by 15.0% in the second quarter. State Street Corp now owns 4,745,078 shares of the real estate investment trust's stock worth $82,802,000 after purchasing an additional 619,020 shares during the period. First Trust Advisors LP lifted its holdings in ARMOUR Residential REIT by 234.6% in the first quarter. First Trust Advisors LP now owns 664,247 shares of the real estate investment trust's stock valued at $11,080,000 after buying an additional 465,733 shares during the period. Envestnet Asset Management Inc. acquired a new stake in shares of ARMOUR Residential REIT during the second quarter worth $6,536,000. Finally, Independent Financial Group LLC acquired a new position in shares of ARMOUR Residential REIT during the 1st quarter worth about $1,458,000. 54.17% 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 that invests primarily in residential mortgage-backed securities. Its portfolio generally consists of securities issued or guaranteed by U.S. government-sponsored enterprises, including Fannie Mae and Freddie Mac, or by U.S. government agencies such as Ginnie Mae.

The company invests in a range of agency mortgage securities, including fixed-rate and adjustable-rate mortgage pass-through securities, collateralized mortgage obligations, specified pools and to-be-announced securities.

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