Wolverine Asset Management LLC Has $9.39 Million Position in ARMOUR Residential REIT, Inc. $ARR

Key Points

• Wolverine Asset Management cut its stake in ARMOUR Residential REIT by 37.4%, selling 317,703 shares and now holds 531,021 shares worth about $9.39 million (≈0.47% of the company).
• ARMOUR announced a monthly $0.24 dividend payable May 28 (record/ex-dividend May 15), which annualizes to a ~16.2% yield while the payout ratio is roughly 150%, suggesting the distribution may be unsustainably high.
• Earnings and market view: ARR beat quarterly EPS estimates ($0.76 vs. $0.73) but reported much lower revenue than expected; the stock trades near $17.74 with a $2.2B market cap and a consensus analyst rating of "Hold" with an $18.50 average target.

Wolverine Asset Management LLC lowered its stake in shares of ARMOUR Residential REIT, Inc. (NYSE:ARR - Free Report) by 37.4% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 531,021 shares of the real estate investment trust's stock after selling 317,703 shares during the period. Wolverine Asset Management LLC owned approximately 0.47% of ARMOUR Residential REIT worth $9,394,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its position in ARMOUR Residential REIT by 217.5% in the fourth quarter. GAMMA Investing LLC now owns 1,721 shares of the real estate investment trust's stock worth $30,000 after purchasing an additional 1,179 shares in the last quarter. Signaturefd LLC raised its position in 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 worth $31,000 after purchasing an additional 1,198 shares in the last quarter. Quarry LP raised its position in ARMOUR Residential REIT by 620.6% in the third quarter. Quarry LP now owns 1,823 shares of the real estate investment trust's stock worth $27,000 after purchasing an additional 1,570 shares in the last quarter. Danske Bank A S acquired a new position in ARMOUR Residential REIT in the third quarter worth about $42,000. Finally, EverSource Wealth Advisors LLC raised its position in ARMOUR Residential REIT by 120.8% in the third quarter. EverSource Wealth Advisors LLC now owns 2,893 shares of the real estate investment trust's stock worth $43,000 after purchasing an additional 1,583 shares in the last quarter. Institutional investors and hedge funds own 54.17% of the company's stock.

ARMOUR Residential REIT Stock Performance

Shares of ARR stock opened at $17.74 on Monday. ARMOUR Residential REIT, Inc. has a 52-week low of $13.98 and a 52-week high of $19.31. The stock has a market cap of $2.20 billion, a PE ratio of 9.24 and a beta of 1.39. The firm's 50 day moving average price is $17.27 and its two-hundred day moving average price is $17.30.

ARMOUR Residential REIT (NYSE:ARR - Get Free Report) last announced its quarterly earnings data on Wednesday, April 22nd. The real estate investment trust reported $0.76 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.73 by $0.03. ARMOUR Residential REIT had a net margin of 27.43% and a return on equity of 15.39%. The firm had revenue of $70.71 million for the quarter, compared to analysts' expectations of $155.79 million. As a group, sell-side analysts predict that ARMOUR Residential REIT, Inc. will post 2.82 earnings per share for the current fiscal year.

ARMOUR Residential REIT Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, May 28th. Shareholders of record on Friday, May 15th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a c) dividend on an annualized basis and a yield of 16.2%. ARMOUR Residential REIT's dividend payout ratio (DPR) is presently 150.00%.

Analysts Set New Price Targets

Several research analysts recently issued reports on ARR shares. Zacks Research raised shares of ARMOUR Residential REIT from a "strong sell" rating to a "hold" rating in a research report on Friday, March 20th. Weiss Ratings lowered shares of ARMOUR Residential REIT from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday, March 20th. Wall Street Zen lowered shares of ARMOUR Residential REIT from a "hold" rating to a "sell" rating in a research report on Saturday, February 21st. UBS Group reissued a "neutral" rating and set a $18.00 price target (up from $17.50) on shares of ARMOUR Residential REIT in a research note on Friday, April 24th. Finally, JonesTrading decreased their price target on shares of ARMOUR Residential REIT from $20.00 to $19.00 and set a "buy" rating on the stock in a research note on Thursday, April 23rd. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price 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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