Insider Buying: ARMOUR Residential REIT (NYSE:ARR) CIO Buys $11,830.00 in Stock

Key Points

• Insider buying: CIO Desmond Macauley bought 1,000 ARMOUR Residential REIT shares for $11.83 each, increasing his holdings by 10.95% to 10,135 shares.
• The REIT reported quarterly EPS of $0.71, in line with analyst estimates, and revenue of $121.7 million, above the $119.84 million consensus.
• ARMOUR announced a monthly dividend of $0.24 per share, equivalent to $2.88 annually and a reported yield of 24.1%; analysts’ consensus rating was Hold.

ARMOUR Residential REIT, Inc. (NYSE:ARR - Get Free Report) CIO Desmond Macauley purchased 1,000 shares of the stock in a transaction dated Friday, November 13th. The stock was acquired at an average cost of $11.83 per share, for a total transaction of $11,830.00. Following the completion of the transaction, the executive owned 10,135 shares of the company's stock, valued at $119,897.05. The trade was a 10.95% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

ARMOUR Residential REIT Trading Up 0.4%

NYSE:ARR traded up $0.04 during trading hours on Friday, hitting $11.94. 4,562,294 shares of the company traded hands, compared to its average volume of 3,809,622. ARMOUR Residential REIT, Inc. has a twelve month low of $11.58 and a twelve month high of $19.31. The firm has a 50-day moving average of $13.72 and a 200 day moving average of $16.24. The stock has a market capitalization of $1.77 billion, a price-to-earnings ratio of -397.83 and a beta of 1.47.

ARMOUR Residential REIT (NYSE:ARR - Get Free Report) last announced its quarterly earnings data on Wednesday, October 21st. The real estate investment trust reported $0.71 EPS for the quarter, hitting analysts' consensus estimates of $0.71. ARMOUR Residential REIT had a positive return on equity of 15.90% and a negative net margin of 5.09%. The company had revenue of $121.70 million during the quarter, compared to the consensus estimate of $119.84 million. Equities research analysts predict that ARMOUR Residential REIT, Inc. will post 2.88 earnings per share for the current fiscal year.

ARMOUR Residential REIT Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, November 27th. Investors of record on Monday, November 16th will be given a dividend of $0.24 per share. The ex-dividend date is Monday, November 16th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 24.1%. ARMOUR Residential REIT's dividend payout ratio (DPR) is -9,600.00%.

Wall Street Analysts Forecast Growth

ARR has been the topic of several research reports. Zacks Research raised ARMOUR Residential REIT from a "strong sell" rating to a "hold" rating in a report on Tuesday, July 21st. Weiss Ratings cut ARMOUR Residential REIT from a "sell (d+)" rating to a "sell (d)" rating in a research note on Friday, October 23rd. Wall Street Zen upgraded ARMOUR Residential REIT from a "strong sell" rating to a "sell" rating in a research report on Saturday, November 7th. B. Riley Financial dropped their target price on ARMOUR Residential REIT from $18.00 to $14.50 and set a "neutral" rating for the company in a research report on Friday, October 23rd. Finally, JonesTrading cut their price target on ARMOUR Residential REIT from $19.00 to $15.25 and set a "buy" rating on the stock in a research note on Thursday, October 22nd. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $16.56.

Hedge Funds Weigh In On ARMOUR Residential REIT

A number of hedge funds and other institutional investors have recently bought and sold shares of ARR. Independent Financial Group LLC bought a new position in shares of ARMOUR Residential REIT during the 1st quarter valued at about $1,458,000. Envestnet Asset Management Inc. acquired a new position in shares of ARMOUR Residential REIT in the 2nd quarter valued at approximately $6,536,000. First Trust Advisors LP increased its stake in ARMOUR Residential REIT by 234.6% during the 1st quarter. First Trust Advisors LP now owns 664,247 shares of the real estate investment trust's stock worth $11,080,000 after purchasing an additional 465,733 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in ARMOUR Residential REIT during the 2nd quarter worth approximately $13,757,000. Finally, State Street Corp raised its holdings in ARMOUR Residential REIT by 15.0% during the 2nd quarter. State Street Corp now owns 4,745,078 shares of the real estate investment trust's stock worth $82,802,000 after buying an additional 619,020 shares during the period. 54.17% of the stock is owned by institutional investors.

ARMOUR Residential REIT Company Profile

ARMOUR Residential REIT, Inc. is a real estate investment trust focused on the U.S. residential mortgage market. The company primarily invests in agency mortgage-backed securities, which are backed by residential mortgage loans and guaranteed or issued by Fannie Mae, Freddie Mac or Ginnie Mae. Its portfolio may include mortgage securities with fixed, adjustable or hybrid interest rates. ARMOUR also uses financing arrangements and hedging instruments to manage interest-rate and other investment risks.

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