Bank of New York Mellon Corp Acquires New Position in ARMOUR Residential REIT, Inc. $ARR

Key Points

• Bank of New York Mellon acquired 788,357 shares of ARMOUR Residential REIT, valued at approximately $13.8 million, giving it a 0.56% stake. Institutional investors collectively own 54.17% of ARR.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $18.50. ARR shares recently opened at $16.15, compared with a 52-week range of $13.98 to $19.31.
• ARMOUR reported quarterly earnings of $0.72 per share, in line with estimates, and revenue of $113.29 million, above expectations. The company declared a monthly dividend of $0.24 per share, representing an annualized yield of approximately 17.8%.

Bank of New York Mellon Corp purchased a new position in shares of ARMOUR Residential REIT, Inc. (NYSE:ARR - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 788,357 shares of the real estate investment trust's stock, valued at approximately $13,757,000. Bank of New York Mellon Corp owned approximately 0.56% of ARMOUR Residential REIT at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. State Street Corp boosted its position in shares of ARMOUR Residential REIT by 1.4% in the 4th quarter. State Street Corp now owns 3,920,206 shares of the real estate investment trust's stock worth $69,348,000 after buying an additional 53,570 shares in the last quarter. Marshall Wace LLP increased its holdings in ARMOUR Residential REIT by 365.7% during the 3rd quarter. Marshall Wace LLP now owns 2,495,203 shares of the real estate investment trust's stock valued at $37,278,000 after acquiring an additional 1,959,447 shares in the last quarter. Invesco Ltd. increased its holdings in ARMOUR Residential REIT by 22.3% during the 3rd quarter. Invesco Ltd. now owns 1,855,148 shares of the real estate investment trust's stock valued at $27,716,000 after acquiring an additional 338,134 shares in the last quarter. UBS Group AG raised its position in ARMOUR Residential REIT by 4.1% during the fourth quarter. UBS Group AG now owns 1,154,875 shares of the real estate investment trust's stock worth $20,430,000 after acquiring an additional 45,023 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its position in ARMOUR Residential REIT by 29.4% during the third quarter. Ameriprise Financial Inc. now owns 1,149,610 shares of the real estate investment trust's stock worth $17,175,000 after acquiring an additional 261,315 shares during the last quarter. 54.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ARR has been the topic of several research reports. Zacks Research upgraded shares of ARMOUR Residential REIT from a "strong sell" rating to a "hold" rating in a research report on Tuesday, July 21st. Weiss Ratings downgraded ARMOUR Residential REIT from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Wednesday, August 19th. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $18.50.

ARMOUR Residential REIT Stock Performance

Shares of NYSE ARR opened at $16.15 on Wednesday. ARMOUR Residential REIT, Inc. has a 1 year low of $13.98 and a 1 year high of $19.31. The firm's 50 day moving average price is $16.67 and its 200 day moving average price is $17.03. The firm has a market cap of $2.29 billion, a P/E ratio of 4.34 and a beta of 1.36.

ARMOUR Residential REIT (NYSE:ARR - Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The real estate investment trust reported $0.72 earnings per share for the quarter, meeting the consensus estimate of $0.72. ARMOUR Residential REIT had a return on equity of 15.10% and a net margin of 44.90%.The company had revenue of $113.29 million during the quarter, compared to the consensus estimate of $111.98 million. As a group, equities analysts predict that ARMOUR Residential REIT, Inc. will post 2.93 EPS for the current year.

ARMOUR Residential REIT Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a c) annualized dividend and a yield of 17.8%. ARMOUR Residential REIT's dividend payout ratio is 77.42%.

ARMOUR Residential REIT Profile

ARMOUR Residential REIT NYSE: ARR is a mortgage real estate investment trust that was formed in 2008 to acquire and manage a portfolio of residential mortgage-backed securities (RMBS). The company's investments are primarily agency-sponsored and agency-guaranteed RMBS issued by U.S. government-sponsored enterprises, along with credit risk transfer securities and select non-agency residential and multifamily RMBS. By focusing on high-quality mortgage assets, ARMOUR Residential REIT seeks to generate stable income and preserve capital through diversified exposure to the U.S.

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