Great Lakes Advisors LLC Makes New $8.58 Million Investment in ARMOUR Residential REIT, Inc. $ARR

Key Points

• Great Lakes Advisors LLC has acquired 501,999 shares of ARMOUR Residential REIT, valued at approximately $8.58 million, representing a 0.61% stake in the company.
• UBS Group has lowered its target price for ARMOUR Residential REIT from $16.00 to $15.50 and currently rates the stock as "neutral" with a consensus rating of "Hold" from analysts.
• ARMOUR Residential REIT announced a dividend of $0.24 per share, with a remarkable yield of 1,902.0%, despite a negative dividend payout ratio of -1,200.00%.

Great Lakes Advisors LLC bought a new position in shares of ARMOUR Residential REIT, Inc. (NYSE:ARR - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 501,999 shares of the real estate investment trust's stock, valued at approximately $8,584,000. Great Lakes Advisors LLC owned 0.61% of ARMOUR Residential REIT as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Ameriflex Group Inc. bought a new stake in ARMOUR Residential REIT during the fourth quarter worth approximately $143,000. US Bancorp DE boosted its position in shares of ARMOUR Residential REIT by 56.2% in the first quarter. US Bancorp DE now owns 8,875 shares of the real estate investment trust's stock valued at $152,000 after acquiring an additional 3,194 shares during the period. Wealth Enhancement Advisory Services LLC bought a new stake in shares of ARMOUR Residential REIT in the fourth quarter valued at approximately $190,000. Ieq Capital LLC bought a new stake in shares of ARMOUR Residential REIT in the first quarter valued at approximately $178,000. Finally, Cambridge Investment Research Advisors Inc. bought a new stake in shares of ARMOUR Residential REIT in the first quarter valued at approximately $181,000. Institutional investors own 54.17% of the company's stock.

ARMOUR Residential REIT Stock Performance

Shares of ARR traded up $0.09 during mid-day trading on Friday, hitting $15.33. The company's stock had a trading volume of 3,962,978 shares, compared to its average volume of 2,978,916. ARMOUR Residential REIT, Inc. has a one year low of $13.18 and a one year high of $21.08. The firm has a market capitalization of $1.40 billion, a PE ratio of -63.87 and a beta of 1.39. The stock's 50-day moving average is $15.89 and its two-hundred day moving average is $16.36.

ARMOUR Residential REIT (NYSE:ARR - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The real estate investment trust reported $0.77 EPS for the quarter, missing analysts' consensus estimates of $0.81 by ($0.04). The firm had revenue of $84.19 million during the quarter, compared to analyst estimates of $52.77 million. ARMOUR Residential REIT had a negative net margin of 4.55% and a positive return on equity of 15.89%. Analysts expect that ARMOUR Residential REIT, Inc. will post 3.8 EPS for the current fiscal year.

ARMOUR Residential REIT Announces Dividend

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

Wall Street Analysts Forecast Growth

Separately, UBS Group reduced their price objective on ARMOUR Residential REIT from $16.00 to $15.50 and set a "neutral" rating for the company in a research report on Wednesday, September 3rd. One analyst has rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, ARMOUR Residential REIT has a consensus rating of "Hold" and an average target price of $15.50.

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.