ARMOUR Residential REIT, Inc. $ARR Position Lifted by State Street Corp

Key Points

• State Street increased its ARMOUR Residential REIT stake by 15% in the second quarter, adding 619,020 shares and bringing its holdings to 4.75 million shares, or approximately 3.35% of the company. Institutional investors collectively own 54.17% of ARR.
• ARR shares opened at $14.09, near the stock’s 52-week low of $14.00 and below its 50-day and 200-day moving averages. The company reported quarterly EPS of $0.72, matching estimates, and revenue of $113.29 million, above expectations.
• The REIT declared a monthly dividend of $0.24 per share, equivalent to $2.88 annually and a 20.4% yield. Analysts have an average “Hold” rating with an $18.50 price target, while Chairman Daniel Staton recently sold 35,583 shares.

State Street Corp increased its stake in shares of ARMOUR Residential REIT, Inc. (NYSE:ARR - Free Report) by 15.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,745,078 shares of the real estate investment trust's stock after purchasing an additional 619,020 shares during the quarter. State Street Corp owned approximately 3.35% of ARMOUR Residential REIT worth $82,802,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. IFP Advisors Inc grew its stake in ARMOUR Residential REIT by 576.2% in the second quarter. IFP Advisors Inc now owns 1,420 shares of the real estate investment trust's stock valued at $25,000 after purchasing an additional 1,210 shares during the last quarter. Allworth Financial LP lifted its position in shares of ARMOUR Residential REIT by 40.7% during the fourth quarter. Allworth Financial LP now owns 2,369 shares of the real estate investment trust's stock valued at $42,000 after buying an additional 685 shares during the last quarter. McIlrath & Eck LLC boosted its holdings in shares of ARMOUR Residential REIT by 161.2% in the 1st quarter. McIlrath & Eck LLC now owns 3,129 shares of the real estate investment trust's stock valued at $52,000 after buying an additional 1,931 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of ARMOUR Residential REIT by 61.0% in the 2nd quarter. GAMMA Investing LLC now owns 3,454 shares of the real estate investment trust's stock valued at $60,000 after buying an additional 1,309 shares in the last quarter. Finally, Integrated Wealth Concepts LLC purchased a new position in shares of ARMOUR Residential REIT in the 2nd quarter worth approximately $100,000. Institutional investors own 54.17% of the company's stock.

ARMOUR Residential REIT Stock Down 3.5%

ARR opened at $14.09 on Friday. The company has a market cap of $1.99 billion, a P/E ratio of 3.79 and a beta of 1.36. The firm's 50-day moving average price is $16.09 and its 200-day moving average price is $16.73. ARMOUR Residential REIT, Inc. has a 52-week low of $14.00 and a 52-week high of $19.31.

ARMOUR Residential REIT (NYSE:ARR - Get Free Report) last released its earnings results on Wednesday, July 22nd. The real estate investment trust reported $0.72 EPS for the quarter, hitting analysts' consensus estimates of $0.72. The company had revenue of $113.29 million during the quarter, compared to analysts' expectations of $111.98 million. ARMOUR Residential REIT had a net margin of 44.90% and a return on equity of 15.10%. On average, research analysts anticipate that ARMOUR Residential REIT, Inc. will post 2.93 EPS for the current fiscal year.

ARMOUR Residential REIT Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 20.4%. ARMOUR Residential REIT's payout ratio is 77.42%.

Analyst Ratings Changes

Several research analysts recently commented on ARR shares. Zacks Research upgraded 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. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, ARMOUR Residential REIT currently has an average rating of "Hold" and an average price target of $18.50.

Insider Activity

In related news, Chairman Daniel Staton sold 35,583 shares of the company's stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $15.86, for a total value of $564,346.38. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.19% of the stock is currently owned by insiders.

ARMOUR Residential REIT Company Profile

ARMOUR Residential REIT, Inc is a real estate investment trust that invests primarily in residential mortgage-backed securities (RMBS). Its portfolio is focused mainly on securities issued or guaranteed by government-sponsored enterprises and U.S. government agencies, including Fannie Mae, Freddie Mac and Ginnie Mae.

The company seeks to generate income from its investment portfolio and finances its activities through arrangements such as repurchase agreements. ARMOUR also uses interest-rate hedging strategies and other financial instruments to manage exposure to changing interest rates, financing costs and market conditions.

ARMOUR Residential REIT was organized in 2007 and is externally managed by ARMOUR Capital Management LP.

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