Millennium Management LLC Raises Holdings in 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 position 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 filing with the Securities & Exchange Commission. The firm owned 2,019,888 shares of the real estate investment trust's stock after purchasing an additional 2,008,287 shares during the quarter. Millennium Management LLC owned 2.47% of ARMOUR Residential REIT worth $34,540,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

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 note on Wednesday, September 3rd. One investment analyst has rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $15.50.

ARMOUR Residential REIT Trading Down 1.3%

ARMOUR Residential REIT stock traded down $0.19 during mid-day trading on Tuesday, hitting $14.88. The stock had a trading volume of 3,545,354 shares, compared to its average volume of 2,983,722. The firm has a market capitalization of $1.36 billion, a P/E ratio of -62.00 and a beta of 1.39. The firm's 50 day moving average is $15.82 and its 200 day moving average is $16.32. 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 issued its earnings results on Wednesday, July 23rd. The real estate investment trust reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.81 by ($0.04). The firm had revenue of $84.19 million during the quarter, compared to the consensus estimate of $52.77 million. ARMOUR Residential REIT had a positive return on equity of 15.89% and a negative net margin of 4.55%. As a group, equities research analysts forecast that ARMOUR Residential REIT, Inc. will post 3.8 earnings per share for the current year.

ARMOUR Residential REIT Dividend Announcement

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 issued a $0.24 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a yield of 1,912.0%. ARMOUR Residential REIT's dividend payout ratio is currently -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.