Dark Forest Capital Management LP Acquires 299,336 Shares of ARMOUR Residential REIT, Inc. $ARR

Key Points

• Dark Forest Capital Management LP significantly increased its stake in ARMOUR Residential REIT, owning 327,460 shares after purchasing an additional 299,336 shares, representing a 1,064.3% increase.
• ARMOUR Residential REIT recently reported a quarterly earnings per share of $0.77, falling short of analysts' expectations by $0.04, with total revenue of $84.19 million.
• The company announced a dividend of $0.24 per share, to be paid on September 29, representing a remarkable dividend yield of 1,902.0%.

Dark Forest Capital Management LP boosted its stake in ARMOUR Residential REIT, Inc. (NYSE:ARR - Free Report) by 1,064.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 327,460 shares of the real estate investment trust's stock after buying an additional 299,336 shares during the period. Dark Forest Capital Management LP owned 0.40% of ARMOUR Residential REIT worth $5,600,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Ameriflex Group Inc. bought a new position in ARMOUR Residential REIT during the fourth quarter valued at about $143,000. US Bancorp DE lifted its stake in ARMOUR Residential REIT by 56.2% in the 1st quarter. US Bancorp DE now owns 8,875 shares of the real estate investment trust's stock worth $152,000 after acquiring an additional 3,194 shares in the last quarter. Ieq Capital LLC purchased a new stake in ARMOUR Residential REIT in the 1st quarter worth about $178,000. Cambridge Investment Research Advisors Inc. purchased a new stake in ARMOUR Residential REIT in the 1st quarter worth about $181,000. Finally, First Citizens Bank & Trust Co. purchased a new stake in shares of ARMOUR Residential REIT during the 1st quarter worth about $182,000. Institutional investors own 54.17% of the company's stock.

Analysts Set New Price Targets

Separately, UBS Group cut their price target on ARMOUR Residential REIT from $16.00 to $15.50 and set a "neutral" rating for the company in a research note on Wednesday. One equities research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, ARMOUR Residential REIT has an average rating of "Hold" and a consensus target price of $15.50.

ARMOUR Residential REIT Stock Performance

Shares of NYSE ARR traded up $0.19 during mid-day trading on Friday, hitting $15.82. 3,199,126 shares of the stock were exchanged, compared to its average volume of 3,608,487. The company has a market cap of $1.45 billion, a P/E ratio of -65.89 and a beta of 1.39. ARMOUR Residential REIT, Inc. has a twelve month low of $13.18 and a twelve month high of $21.08. The stock's fifty day simple moving average is $16.02 and its two-hundred day simple moving average is $16.51.

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 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.04). The business had revenue of $84.19 million during the quarter, compared to analyst estimates of $52.77 million. ARMOUR Residential REIT had a positive return on equity of 15.89% and a negative net margin of 4.55%. As a group, equities research analysts predict that ARMOUR Residential REIT, Inc. will post 3.8 earnings per share for the current fiscal year.

ARMOUR Residential REIT Dividend Announcement

The firm also recently disclosed a sep 25 dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be paid a dividend of $0.24 per share. This represents a yield of 1,902.0%. The ex-dividend date of this dividend is Monday, September 15th. ARMOUR Residential REIT's dividend payout ratio (DPR) is presently -1,200.00%.

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.