First Trust Advisors LP Buys 465,733 Shares of ARMOUR Residential REIT, Inc. $ARR

Key Points

• First Trust Advisors LP increased its ARMOUR Residential REIT stake by 234.6% in the first quarter, adding 465,733 shares to own 664,247 shares worth approximately $11.1 million. 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. Recent calls ranged from JonesTrading’s “Buy” rating to Weiss Ratings’ “Sell” rating.
• ARMOUR reported quarterly earnings of $0.72 per share, matching estimates, while revenue of $113.29 million exceeded forecasts. The company declared a monthly $0.24 dividend, representing an annualized yield of approximately 17.5%.

First Trust Advisors LP grew its stake in shares of ARMOUR Residential REIT, Inc. (NYSE:ARR - Free Report) by 234.6% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 664,247 shares of the real estate investment trust's stock after buying an additional 465,733 shares during the period. First Trust Advisors LP owned approximately 0.54% of ARMOUR Residential REIT worth $11,080,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Independent Financial Group LLC bought a new position in ARMOUR Residential REIT during the first quarter valued at about $1,458,000. Principal Financial Group Inc. raised its holdings in ARMOUR Residential REIT by 2.0% in the 1st quarter. Principal Financial Group Inc. now owns 543,935 shares of the real estate investment trust's stock valued at $9,073,000 after acquiring an additional 10,592 shares in the last quarter. Praxis Investment Management Inc. bought a new stake in shares of ARMOUR Residential REIT in the 1st quarter worth approximately $175,000. New York State Teachers Retirement System lifted its position in shares of ARMOUR Residential REIT by 9.5% in the 1st quarter. New York State Teachers Retirement System now owns 67,245 shares of the real estate investment trust's stock worth $1,122,000 after acquiring an additional 5,856 shares during the period. Finally, Pictet Asset Management Holding SA grew its holdings in shares of ARMOUR Residential REIT by 16.0% during the 1st quarter. Pictet Asset Management Holding SA now owns 20,036 shares of the real estate investment trust's stock worth $334,000 after purchasing an additional 2,764 shares in the last quarter. Institutional investors own 54.17% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. UBS Group restated a "neutral" rating and issued a $18.00 target price (up from $17.50) on shares of ARMOUR Residential REIT in a research note on Friday, April 24th. Zacks Research upgraded shares of ARMOUR Residential REIT from a "strong sell" rating to a "hold" rating in a research note on Tuesday, July 21st. Weiss Ratings reissued a "sell (d+)" rating on shares of ARMOUR Residential REIT in a report on Wednesday, June 17th. Finally, JonesTrading dropped their price objective on shares of ARMOUR Residential REIT from $20.00 to $19.00 and set a "buy" rating for the company in a research note on Thursday, April 23rd. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, ARMOUR Residential REIT has a consensus rating of "Hold" and an average target price of $18.50.

ARMOUR Residential REIT Stock Performance

Shares of ARR stock opened at $16.46 on Friday. The stock's fifty day moving average is $16.89 and its 200-day moving average is $17.30. The stock has a market capitalization of $2.33 billion, a PE ratio of 4.42 and a beta of 1.36. ARMOUR Residential REIT, Inc. has a 52 week low of $13.98 and a 52 week high of $19.31.

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

ARMOUR Residential REIT Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, August 28th. Shareholders of record on Monday, August 17th will be given a $0.24 dividend. This represents a c) annualized dividend and a yield of 17.5%. The ex-dividend date is Monday, August 17th. ARMOUR Residential REIT's dividend payout ratio (DPR) is presently 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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