Envestnet Asset Management Inc. Acquires New Holdings in ARMOUR Residential REIT, Inc. $ARR

Key Points

• Envestnet Asset Management acquired 374,580 shares of ARMOUR Residential REIT, valued at approximately $6.5 million, giving it a 0.26% 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 recently traded at $13.58, near its 52-week low of $13.43.
• ARMOUR declared a monthly dividend of $0.24 per share, equivalent to an annualized $2.88 payout and a 21.2% dividend yield; its latest quarterly earnings matched estimates at $0.72 per share.

Envestnet Asset Management Inc. bought a new stake in ARMOUR Residential REIT, Inc. (NYSE:ARR - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 374,580 shares of the real estate investment trust's stock, valued at approximately $6,536,000. Envestnet Asset Management Inc. owned approximately 0.26% of ARMOUR Residential REIT at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp raised its holdings in ARMOUR Residential REIT by 15.0% in the 2nd quarter. State Street Corp now owns 4,745,078 shares of the real estate investment trust's stock valued at $82,802,000 after buying an additional 619,020 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in ARMOUR Residential REIT by 18.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 59,141 shares of the real estate investment trust's stock worth $1,032,000 after purchasing an additional 9,038 shares during the last quarter. Integrated Wealth Concepts LLC bought a new position in ARMOUR Residential REIT during the 2nd quarter worth approximately $100,000. NewEdge Advisors LLC lifted its position in shares of ARMOUR Residential REIT by 34,376.5% in the 2nd quarter. NewEdge Advisors LLC now owns 5,861 shares of the real estate investment trust's stock worth $102,000 after purchasing an additional 5,844 shares during the period. Finally, IFP Advisors Inc lifted its position in shares of ARMOUR Residential REIT by 576.2% in the 2nd quarter. IFP Advisors Inc now owns 1,420 shares of the real estate investment trust's stock worth $25,000 after purchasing an additional 1,210 shares during the period. Institutional investors own 54.17% of the company's stock.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In related news, Chairman Daniel Staton sold 35,583 shares of the business's stock in a transaction that occurred 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 Securities & Exchange Commission, which is available at this hyperlink. 0.19% of the stock is owned by insiders.

ARMOUR Residential REIT Price Performance

Shares of ARR opened at $13.58 on Friday. ARMOUR Residential REIT, Inc. has a 1-year low of $13.43 and a 1-year high of $19.31. The company has a market capitalization of $1.92 billion, a P/E ratio of 3.65 and a beta of 1.42. The firm's 50 day simple moving average is $15.79 and its 200 day simple moving average is $16.58.

ARMOUR Residential REIT (NYSE:ARR - Get Free Report) last posted its quarterly earnings data 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 net margin of 44.90% and a return on equity of 15.10%. The firm had revenue of $113.29 million for the quarter, compared to analysts' expectations of $111.98 million. On average, equities analysts anticipate that ARMOUR Residential REIT, Inc. will post 2.93 earnings per share for the current year.

ARMOUR Residential REIT Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, October 29th. Investors of record on Thursday, October 15th will be issued a dividend of $0.24 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 21.2%. The ex-dividend date of this dividend is Thursday, October 15th. ARMOUR Residential REIT's dividend payout ratio (DPR) is currently 77.42%.

ARMOUR Residential REIT Profile

ARMOUR Residential REIT, Inc is a real estate investment trust that invests primarily in residential mortgage-backed securities (RMBS) issued or guaranteed by U.S. government agencies and government-sponsored enterprises, including Ginnie Mae, Fannie Mae and Freddie Mac. Its portfolio may include fixed-rate and adjustable-rate mortgage securities, as well as other investments related to the U.S. residential mortgage market.

The company seeks to generate income from its investments and manages interest-rate and prepayment risks through portfolio composition, financing arrangements and hedging strategies.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.