Great Lakes Advisors LLC Acquires New Stake 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 ARMOUR Residential REIT, Inc. (NYSE:ARR - Free Report) in the 1st quarter, according to its most recent filing with the SEC. 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 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Ameriflex Group Inc. bought a new position in shares of ARMOUR Residential REIT in the 4th quarter worth $143,000. US Bancorp DE raised its stake in 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 buying an additional 3,194 shares during the last quarter. Ieq Capital LLC purchased a new stake in ARMOUR Residential REIT in the first quarter valued at about $178,000. Cambridge Investment Research Advisors Inc. acquired a new position in shares of ARMOUR Residential REIT in the first quarter valued at about $181,000. Finally, First Citizens Bank & Trust Co. acquired a new position in shares of ARMOUR Residential REIT in the first quarter valued at about $182,000. 54.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

ARMOUR Residential REIT Stock Performance

Shares of ARMOUR Residential REIT stock opened at $15.71 on Tuesday. The business's 50 day moving average price is $16.00 and its 200 day moving average price is $16.46. The company has a market cap of $1.44 billion, a price-to-earnings ratio of -65.43 and a beta of 1.39. ARMOUR Residential REIT, Inc. has a one year low of $13.18 and a one year high of $21.08.

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

ARMOUR Residential REIT Announces Dividend

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

ARMOUR Residential REIT Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.