Rhumbline Advisers Acquires 31,133 Shares of ARMOUR Residential REIT, Inc. $ARR

Key Points

• Rhumbline Advisers increased its stake in ARMOUR Residential REIT by 19.7%, owning 188,792 shares valued at approximately $3.2 million.
• UBS Group has lowered its price target for ARMOUR Residential REIT from $16.00 to $15.50, maintaining a "neutral" rating on the stock.
• The company declared a $0.24 per share dividend to be paid on September 29, which represents a striking yield of 1,912.0%.

Rhumbline Advisers raised its holdings in shares of ARMOUR Residential REIT, Inc. (NYSE:ARR - Free Report) by 19.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 188,792 shares of the real estate investment trust's stock after purchasing an additional 31,133 shares during the quarter. Rhumbline Advisers owned approximately 0.23% of ARMOUR Residential REIT worth $3,228,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in ARR. Ameriflex Group Inc. acquired a new stake in shares of ARMOUR Residential REIT during the fourth quarter worth $143,000. US Bancorp DE grew its position in ARMOUR Residential REIT by 56.2% in the first quarter. US Bancorp DE now owns 8,875 shares of the real estate investment trust's stock valued at $152,000 after acquiring an additional 3,194 shares during the last quarter. Ieq Capital LLC bought a new position in ARMOUR Residential REIT in the first quarter valued at about $178,000. Cambridge Investment Research Advisors Inc. bought a new position in ARMOUR Residential REIT in the first quarter valued at about $181,000. Finally, Strs Ohio bought a new stake in shares of ARMOUR Residential REIT during the first quarter worth about $181,000. Institutional investors and hedge funds own 54.17% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, UBS Group reduced their price target on ARMOUR Residential REIT from $16.00 to $15.50 and set a "neutral" rating on the stock in a report on Wednesday, September 3rd. One investment analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $15.50.

ARMOUR Residential REIT Price Performance

Shares of ARMOUR Residential REIT stock traded down $0.14 during trading hours on Friday, hitting $14.61. 8,536,194 shares of the company's stock traded hands, compared to its average volume of 2,943,488. ARMOUR Residential REIT, Inc. has a 12-month low of $13.18 and a 12-month high of $21.08. The stock has a market capitalization of $1.34 billion, a price-to-earnings ratio of -60.87 and a beta of 1.39. The company has a fifty day simple moving average of $15.69 and a 200-day simple moving average of $16.26.

ARMOUR Residential REIT (NYSE:ARR - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The real estate investment trust reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.04). ARMOUR Residential REIT had a negative net margin of 4.55% and a positive return on equity of 15.89%. The business had revenue of $84.19 million for the quarter, compared to analysts' expectations of $52.77 million. On average, analysts forecast that ARMOUR Residential REIT, Inc. will post 3.8 EPS for the current fiscal year.

ARMOUR Residential REIT Announces Dividend

The company also recently disclosed a sep 25 dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a yield of 1,912.0%. ARMOUR Residential REIT's dividend payout ratio (DPR) is -1,200.00%.

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.