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

ARMOUR Residential REIT, Inc. (NYSE:ARR - Get Free Report) declared a monthly dividend on Wednesday, June 25th, Wall Street Journal reports. Shareholders of record on Tuesday, July 15th will be paid a dividend of 0.24 per share by the real estate investment trust on Wednesday, July 30th. This represents a $2.88 dividend on an annualized basis and a yield of 17.35%. The ex-dividend date is Tuesday, July 15th.

ARMOUR Residential REIT has a 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 fall. Equities research 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 Stock Performance

Shares of ARMOUR Residential REIT stock traded down $0.10 during trading on Friday, hitting $16.60. 5,806,711 shares of the stock traded hands, compared to its average volume of 2,069,378. The stock has a market cap of $1.36 billion, a P/E ratio of -47.41 and a beta of 1.37. The company has a fifty day moving average price of $16.34 and a two-hundred day moving average price of $17.46. ARMOUR Residential REIT has a twelve month low of $13.18 and a twelve month high of $21.93.

ARMOUR Residential REIT (NYSE:ARR - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The real estate investment trust reported $0.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.81 by $0.05. The firm had revenue of $75.29 million during 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%. On average, equities research analysts expect that ARMOUR Residential REIT will post 3.8 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ARR has been the subject of several analyst reports. Janney Montgomery Scott raised shares of ARMOUR Residential REIT from a "neutral" rating to a "buy" rating in a research note on Monday, April 28th. Jones Trading reaffirmed a "hold" rating on shares of ARMOUR Residential REIT in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, ARMOUR Residential REIT currently has an average rating of "Hold" and a consensus target price of $21.00.

Institutional Trading of ARMOUR Residential REIT

A number of institutional investors and hedge funds have recently modified their holdings of ARR. Strs Ohio bought a new position in ARMOUR Residential REIT in the 1st quarter worth $181,000. Intech Investment Management LLC grew its position in shares of ARMOUR Residential REIT by 189.5% in 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 purchasing an additional 60,371 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of ARMOUR Residential REIT by 38.2% in the first quarter. Goldman Sachs Group Inc. now owns 807,027 shares of the real estate investment trust's stock valued at $13,800,000 after purchasing an additional 222,923 shares during the last quarter. AQR Capital Management LLC increased its stake 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 worth $246,000 after purchasing an additional 2,980 shares during the period. Finally, Royal Bank of Canada increased its stake in shares of ARMOUR Residential REIT by 50.3% in the first quarter. Royal Bank of Canada now owns 122,055 shares of the real estate investment trust's stock worth $2,088,000 after purchasing an additional 40,860 shares during the period. 54.17% of the stock is currently owned by institutional investors and hedge funds.

About ARMOUR Residential REIT

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.