Millennium Management LLC Buys 2,008,287 Shares of ARMOUR Residential REIT, Inc. $ARR

Key Points

• Millennium Management LLC has significantly increased its stake in ARMOUR Residential REIT, acquiring 2,008,287 shares and now owns approximately 2.47% of the company, valued at $34.54 million.
• ARMOUR Residential REIT announced a dividend of $0.24 per share, boasting an extremely high dividend yield of 1,902.0%, despite a payout ratio of -1,200.00%.
• Following recent earnings that missed analysts' expectations, ARMOUR Residential REIT's stock is currently rated as "Hold" with a consensus price target of $15.50.

Millennium Management LLC raised its stake in shares of ARMOUR Residential REIT, Inc. (NYSE:ARR - Free Report) by 17,311.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,019,888 shares of the real estate investment trust's stock after acquiring an additional 2,008,287 shares during the quarter. Millennium Management LLC owned approximately 2.47% of ARMOUR Residential REIT worth $34,540,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ARR. Northern Trust Corp lifted its holdings in shares of ARMOUR Residential REIT by 19.1% during the fourth quarter. Northern Trust Corp now owns 620,660 shares of the real estate investment trust's stock valued at $11,706,000 after acquiring an additional 99,669 shares during the period. Ameriprise Financial Inc. increased its holdings in shares of ARMOUR Residential REIT by 486.7% during the fourth quarter. Ameriprise Financial Inc. now owns 814,009 shares of the real estate investment trust's stock worth $15,352,000 after buying an additional 675,259 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in shares of ARMOUR Residential REIT by 17.9% during the fourth quarter. BNP Paribas Financial Markets now owns 32,412 shares of the real estate investment trust's stock worth $611,000 after buying an additional 4,932 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of ARMOUR Residential REIT by 25.3% during the fourth quarter. Bank of America Corp DE now owns 104,744 shares of the real estate investment trust's stock worth $1,975,000 after buying an additional 21,177 shares in the last quarter. Finally, Deutsche Bank AG increased its holdings in shares of ARMOUR Residential REIT by 55.4% during the fourth quarter. Deutsche Bank AG now owns 39,246 shares of the real estate investment trust's stock worth $740,000 after buying an additional 13,984 shares in the last quarter. 54.17% of the stock is owned by institutional investors.

ARMOUR Residential REIT Stock Down 1.1%

ARMOUR Residential REIT stock opened at $15.47 on Thursday. The stock has a 50-day simple moving average of $15.95 and a 200 day simple moving average of $16.44. ARMOUR Residential REIT, Inc. has a 12-month low of $13.18 and a 12-month high of $21.08. The stock has a market capitalization of $1.42 billion, a price-to-earnings ratio of -64.43 and a beta of 1.39.

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

ARMOUR Residential REIT Announces Dividend

The firm also recently declared 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. This represents a dividend yield of 1,902.0%. The ex-dividend date of this dividend is Monday, September 15th. ARMOUR Residential REIT's payout ratio is currently -1,200.00%.

Wall Street Analysts Forecast Growth

Separately, UBS Group dropped their price objective on shares of ARMOUR Residential REIT from $16.00 to $15.50 and set a "neutral" rating for the company in a report on Wednesday, September 3rd. One analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, ARMOUR Residential REIT presently has a consensus rating of "Hold" and a consensus price target of $15.50.

ARMOUR Residential REIT 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.

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