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

ARMOUR Residential REIT, Inc. (NYSE:ARR - Get Free Report) declared a monthly dividend on Wednesday, June 25th, Wall Street Journal reports. Stockholders of record on Tuesday, July 15th will be given a dividend of 0.24 per share by the real estate investment trust on Wednesday, July 30th. This represents a $2.88 annualized dividend and a dividend yield of 17.47%. The ex-dividend date of this dividend is Tuesday, July 15th.

ARMOUR Residential REIT has a dividend payout ratio of 82.1% meaning its dividend is currently covered by earnings, but may not be in the future if the company's earnings decline. Analysts expect ARMOUR Residential REIT to earn $4.25 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 67.8%.

ARMOUR Residential REIT Price Performance

Shares of ARMOUR Residential REIT stock traded up $0.02 during trading on Wednesday, reaching $16.49. 1,346,203 shares of the company traded hands, compared to its average volume of 2,031,377. The firm has a market capitalization of $1.35 billion, a PE ratio of -47.11 and a beta of 1.37. ARMOUR Residential REIT has a 1-year low of $13.18 and a 1-year high of $21.93. The company has a 50 day moving average price of $16.20 and a 200-day moving average price of $17.52.

ARMOUR Residential REIT (NYSE:ARR - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The real estate investment trust reported $0.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.81 by $0.05. The company had revenue of $75.29 million for the quarter, compared to analysts' expectations of $18.59 million. ARMOUR Residential REIT had a negative net margin of 0.27% and a positive return on equity of 16.42%. Equities research analysts expect that ARMOUR Residential REIT will post 3.8 earnings per share for the current year.

Hedge Funds Weigh In On ARMOUR Residential REIT

Several large investors have recently bought and sold shares of the stock. Strs Ohio purchased a new position in ARMOUR Residential REIT during the first quarter worth about $181,000. AQR Capital Management LLC grew its holdings in shares of ARMOUR Residential REIT by 26.1% in the first quarter. AQR Capital Management LLC now owns 14,393 shares of the real estate investment trust's stock valued at $246,000 after acquiring an additional 2,980 shares in the last quarter. Intech Investment Management LLC increased its position in shares of ARMOUR Residential REIT by 189.5% during the first quarter. Intech Investment Management LLC now owns 92,237 shares of the real estate investment trust's stock valued at $1,577,000 after acquiring an additional 60,371 shares during the last quarter. Royal Bank of Canada increased its position in shares of ARMOUR Residential REIT by 50.3% during the first quarter. Royal Bank of Canada now owns 122,055 shares of the real estate investment trust's stock valued at $2,088,000 after acquiring an additional 40,860 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in ARMOUR Residential REIT by 38.2% during the first quarter. Goldman Sachs Group Inc. now owns 807,027 shares of the real estate investment trust's stock worth $13,800,000 after acquiring an additional 222,923 shares during the period. 54.17% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on ARR. Jones Trading restated a "hold" rating on shares of ARMOUR Residential REIT in a report on Thursday, April 24th. Janney Montgomery Scott upgraded shares of ARMOUR Residential REIT from a "neutral" rating to a "buy" rating in a research note on Monday, April 28th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $21.00.

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.

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