ARMOUR Residential REIT, Inc. Plans Monthly Dividend of $0.24 (NYSE:ARR)

ARMOUR Residential REIT, Inc. (NYSE:ARR - Get Free Report) announced a monthly dividend on Wednesday, April 24th, Zacks reports. Stockholders of record on Wednesday, May 15th will be given a dividend of 0.24 per share by the real estate investment trust on Tuesday, May 28th. This represents a $2.88 annualized dividend and a dividend yield of 15.56%. The ex-dividend date of this dividend is Tuesday, May 14th.

ARMOUR Residential REIT has decreased its dividend payment by an average of 8.4% annually over the last three years. ARMOUR Residential REIT has a payout ratio of 64.1% meaning its dividend is sufficiently covered by earnings. Analysts expect ARMOUR Residential REIT to earn $3.85 per share next year, which means the company should continue to be able to cover its $2.88 annual dividend with an expected future payout ratio of 74.8%.

ARMOUR Residential REIT Stock Performance

Shares of NYSE ARR traded up $0.30 during midday trading on Friday, hitting $18.51. 1,603,851 shares of the company's stock traded hands, compared to its average volume of 1,171,473. ARMOUR Residential REIT has a 1 year low of $13.31 and a 1 year high of $27.00. The stock has a market capitalization of $902.36 million, a price-to-earnings ratio of -9.76 and a beta of 1.48. The firm has a fifty day moving average of $19.03 and a 200 day moving average of $18.46.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on ARR shares. StockNews.com lowered shares of ARMOUR Residential REIT from a "hold" rating to a "sell" rating in a report on Friday, April 5th. JMP Securities reaffirmed a "market perform" rating on shares of ARMOUR Residential REIT in a report on Thursday, April 18th.

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.