Wealth Enhancement Advisory Services LLC Makes New Investment in ARMOUR Residential REIT, Inc. $ARR

Key Points

• Wealth Enhancement Advisory Services LLC has acquired a new position in ARMOUR Residential REIT, purchasing 20,754 shares valued at approximately $350,000.
• ARMOUR Residential REIT reported a quarterly net loss, with earnings per share of $0.77, falling short of analysts' estimates of $0.81.
• The REIT has announced a dividend of $0.24 per share, with an ex-dividend date set for October 15th, translating to an annualized yield of 18.5%.

Wealth Enhancement Advisory Services LLC acquired a new position in shares of ARMOUR Residential REIT, Inc. (NYSE:ARR - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 20,754 shares of the real estate investment trust's stock, valued at approximately $350,000.

Other hedge funds have also bought and sold shares of the company. US Bancorp DE boosted its stake in ARMOUR Residential REIT by 56.2% during the first quarter. US Bancorp DE now owns 8,875 shares of the real estate investment trust's stock worth $152,000 after acquiring an additional 3,194 shares in the last quarter. Ieq Capital LLC bought a new position in shares of ARMOUR Residential REIT in the first quarter worth approximately $178,000. Cambridge Investment Research Advisors Inc. bought a new position in shares of ARMOUR Residential REIT in the first quarter worth approximately $181,000. Strs Ohio bought a new position in shares of ARMOUR Residential REIT in the first quarter worth approximately $181,000. Finally, First Citizens Bank & Trust Co. bought a new position in shares of ARMOUR Residential REIT in the first quarter worth approximately $182,000. Institutional investors own 54.17% of the company's stock.

ARMOUR Residential REIT Trading Up 0.9%

ARMOUR Residential REIT stock opened at $15.61 on Wednesday. The firm has a 50-day moving average price of $15.27 and a 200-day moving average price of $15.92. The firm has a market capitalization of $1.43 billion, a PE ratio of -65.02 and a beta of 1.41. ARMOUR Residential REIT, Inc. has a 12-month low of $13.18 and a 12-month high of $20.39.

ARMOUR Residential REIT (NYSE:ARR - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The real estate investment trust reported $0.77 earnings per share 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 company had revenue of $84.19 million for the quarter, compared to the consensus estimate of $52.77 million. As a group, sell-side analysts predict that ARMOUR Residential REIT, Inc. will post 3.8 earnings per share for the current fiscal year.

ARMOUR Residential REIT Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Thursday, October 30th. Shareholders of record on Wednesday, October 15th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a c) dividend on an annualized basis and a yield of 18.5%. ARMOUR Residential REIT's dividend payout ratio (DPR) is -1,200.00%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ARR. UBS Group dropped their target price on shares of ARMOUR Residential REIT from $16.00 to $15.50 and set a "neutral" rating on the stock in a research note on Wednesday, September 3rd. Weiss Ratings restated a "sell (d)" rating on shares of ARMOUR Residential REIT in a research report on Saturday, September 27th. One research analyst has rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, ARMOUR Residential REIT presently has an average rating of "Hold" and a consensus target price 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.

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.