ARMOUR Residential REIT, Inc. (NYSE:ARR) announced a monthly dividend on Monday, June 24th, Zacks reports. Investors of record on Monday, July 15th will be given a dividend of 0.17 per share by the real estate investment trust on Monday, July 29th. This represents a $2.04 annualized dividend and a yield of 10.80%. The ex-dividend date of this dividend is Friday, July 12th.
ARMOUR Residential REIT has decreased its dividend by an average of 16.3% per year over the last three years. ARMOUR Residential REIT has a payout ratio of 83.3% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Analysts expect ARMOUR Residential REIT to earn $2.50 per share next year, which means the company should continue to be able to cover its $2.04 annual dividend with an expected future payout ratio of 81.6%.
NYSE ARR opened at $18.89 on Thursday. The business’s 50 day simple moving average is $18.28. ARMOUR Residential REIT has a one year low of $17.03 and a one year high of $24.07. The firm has a market capitalization of $1.12 billion, a PE ratio of 7.56 and a beta of 0.67.
In other news, CEO Scott Ulm acquired 5,000 shares of ARMOUR Residential REIT stock in a transaction on Friday, April 26th. The stock was purchased at an average price of $19.32 per share, with a total value of $96,600.00. Following the completion of the purchase, the chief executive officer now owns 117,064 shares of the company’s stock, valued at approximately $2,261,676.48. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO James R. Mountain acquired 3,000 shares of ARMOUR Residential REIT stock in a transaction on Wednesday, May 15th. The stock was purchased at an average cost of $18.55 per share, with a total value of $55,650.00. Following the purchase, the chief financial officer now directly owns 44,500 shares of the company’s stock, valued at approximately $825,475. The disclosure for this purchase can be found here. Insiders acquired 93,000 shares of company stock valued at $1,680,150 in the last three months. Insiders own 1.30% of the company’s stock.
Several research firms recently commented on ARR. Zacks Investment Research cut Hancock Jaffe Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, June 26th. ValuEngine raised Zynerba Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Monday, April 1st. Finally, Nomura decreased their target price on Carnival from $66.00 to $61.00 and set a “buy” rating for the company in a research note on Wednesday, March 27th. Two investment analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $20.67.
ARMOUR Residential REIT Company Profile
ARMOUR Residential REIT, Inc invests in residential mortgage backed securities in the United States. The company is managed by ARMOUR Capital Management LP. 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, as well as unsecured notes and bonds issued by the GSE and the United States treasuries; and money market instruments.
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