Strait & Sound Wealth Management LLC Takes Position in ARMOUR Residential REIT, Inc. $ARR

Strait & Sound Wealth Management LLC purchased a new position in ARMOUR Residential REIT, Inc. (NYSE:ARR - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 73,352 shares of the real estate investment trust's stock, valued at approximately $1,224,000. Strait & Sound Wealth Management LLC owned about 0.06% of ARMOUR Residential REIT at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Quarry LP boosted its position in ARMOUR Residential REIT by 620.6% in the 3rd quarter. Quarry LP now owns 1,823 shares of the real estate investment trust's stock valued at $27,000 after buying an additional 1,570 shares during the period. GAMMA Investing LLC raised its stake in shares of ARMOUR Residential REIT by 217.5% during the fourth quarter. GAMMA Investing LLC now owns 1,721 shares of the real estate investment trust's stock valued at $30,000 after acquiring an additional 1,179 shares in the last quarter. Signaturefd LLC boosted its holdings in shares of ARMOUR Residential REIT by 210.9% in the fourth quarter. Signaturefd LLC now owns 1,766 shares of the real estate investment trust's stock valued at $31,000 after purchasing an additional 1,198 shares during the period. Allworth Financial LP grew its stake in ARMOUR Residential REIT by 40.7% in the fourth quarter. Allworth Financial LP now owns 2,369 shares of the real estate investment trust's stock worth $42,000 after purchasing an additional 685 shares in the last quarter. Finally, Danske Bank A S purchased a new position in ARMOUR Residential REIT during the 3rd quarter worth $42,000. Hedge funds and other institutional investors own 54.17% of the company's stock.

ARMOUR Residential REIT Price Performance

Shares of NYSE ARR opened at $16.34 on Thursday. The stock has a market capitalization of $2.31 billion, a P/E ratio of 4.39 and a beta of 1.36. ARMOUR Residential REIT, Inc. has a 1-year low of $13.98 and a 1-year high of $19.31. The business has a fifty day moving average price of $16.90 and a 200 day moving average price of $17.32.

ARMOUR Residential REIT (NYSE:ARR - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The real estate investment trust reported $0.72 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.72. The company had revenue of $113.29 million for 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, equities research analysts anticipate that ARMOUR Residential REIT, Inc. will post 2.93 earnings per share for the current fiscal year.

ARMOUR Residential REIT Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, August 28th. Stockholders of record on Monday, August 17th will be issued a $0.24 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 17.6%. The ex-dividend date is Monday, August 17th. ARMOUR Residential REIT's dividend payout ratio (DPR) is currently 77.42%.

Analyst Upgrades and Downgrades

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

About ARMOUR Residential REIT

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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