Bank of America Corp DE Has $1.98 Million Stake in ARMOUR Residential REIT, Inc. (NYSE:ARR)

Bank of America Corp DE grew its position in shares of ARMOUR Residential REIT, Inc. (NYSE:ARR - Free Report) by 25.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 104,744 shares of the real estate investment trust's stock after acquiring an additional 21,177 shares during the quarter. Bank of America Corp DE owned about 0.19% of ARMOUR Residential REIT worth $1,975,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Private Trust Co. NA bought a new stake in shares of ARMOUR Residential REIT during the fourth quarter valued at about $28,000. Sterling Capital Management LLC raised its stake in shares of ARMOUR Residential REIT by 927.9% during the fourth quarter. Sterling Capital Management LLC now owns 1,768 shares of the real estate investment trust's stock valued at $33,000 after purchasing an additional 1,596 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of ARMOUR Residential REIT by 35.2% during the fourth quarter. Russell Investments Group Ltd. now owns 2,695 shares of the real estate investment trust's stock valued at $51,000 after purchasing an additional 702 shares in the last quarter. KBC Group NV raised its stake in shares of ARMOUR Residential REIT by 117.8% during the fourth quarter. KBC Group NV now owns 3,465 shares of the real estate investment trust's stock valued at $65,000 after purchasing an additional 1,874 shares in the last quarter. Finally, C M Bidwell & Associates Ltd. bought a new stake in ARMOUR Residential REIT in the fourth quarter worth about $75,000. Institutional investors and hedge funds own 54.17% of the company's stock.

Analysts Set New Price Targets

ARR has been the topic of several research reports. Janney Montgomery Scott upgraded shares of ARMOUR Residential REIT from a "neutral" rating to a "buy" rating in a research report on Monday, April 28th. BTIG Research initiated coverage on shares of ARMOUR Residential REIT in a research report on Monday, February 10th. They issued a "neutral" rating on the stock. Wall Street Zen cut shares of ARMOUR Residential REIT from a "hold" rating to a "sell" rating in a research report on Friday, February 14th. Finally, Jones Trading restated a "hold" rating on shares of ARMOUR Residential REIT in a report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $20.50.

ARMOUR Residential REIT Trading Up 0.3%

ARMOUR Residential REIT stock traded up $0.06 during trading hours on Thursday, reaching $16.54. 1,745,571 shares of the company were exchanged, compared to its average volume of 1,959,632. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of -38.45 and a beta of 1.36. The stock has a 50-day moving average of $15.81 and a 200 day moving average of $17.75. ARMOUR Residential REIT, Inc. has a 12 month low of $13.18 and a 12 month high of $21.93.

ARMOUR Residential REIT (NYSE:ARR - Get Free Report) last announced its earnings results 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. ARMOUR Residential REIT had a positive return on equity of 16.00% and a negative net margin of 2.61%. The firm had revenue of $75.29 million during the quarter, compared to analysts' expectations of $18.59 million. As a group, research analysts forecast that ARMOUR Residential REIT, Inc. will post 3.8 EPS for the current year.

ARMOUR Residential REIT Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, June 27th. Stockholders of record on Monday, June 16th will be issued a dividend of $0.24 per share. The ex-dividend date is Monday, June 16th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 17.42%. ARMOUR Residential REIT's dividend payout ratio (DPR) is presently -822.86%.

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.