ARMOUR Residential REIT, Inc. (NYSE:ARR – Get Free Report) declared a monthly dividend on Thursday, February 1st, Zacks reports. Shareholders of record on Thursday, February 15th will be paid a dividend of 0.24 per share by the real estate investment trust on Wednesday, February 28th. This represents a $2.88 dividend on an annualized basis and a yield of 15.28%. The ex-dividend date is Wednesday, February 14th.
ARMOUR Residential REIT has decreased its dividend by an average of 8.4% per year over the last three years. ARMOUR Residential REIT has a payout ratio of 64.3% meaning its dividend is sufficiently covered by earnings. Analysts expect ARMOUR Residential REIT to earn $3.84 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 75.0%.
ARMOUR Residential REIT Stock Performance
Shares of NYSE:ARR opened at $18.85 on Monday. ARMOUR Residential REIT has a fifty-two week low of $13.31 and a fifty-two week high of $30.90. The business has a 50-day simple moving average of $19.29 and a two-hundred day simple moving average of $20.18. The firm has a market cap of $923.46 million, a price-to-earnings ratio of -14.28 and a beta of 1.47.
Institutional Investors Weigh In On ARMOUR Residential REIT
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ARR. Russell Investments Group Ltd. bought a new position in ARMOUR Residential REIT in the 1st quarter worth approximately $30,000. US Bancorp DE raised its holdings in ARMOUR Residential REIT by 44.4% during the 4th quarter. US Bancorp DE now owns 1,913 shares of the real estate investment trust’s stock valued at $37,000 after buying an additional 588 shares during the period. PNC Financial Services Group Inc. raised its holdings in ARMOUR Residential REIT by 66.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,766 shares of the real estate investment trust’s stock valued at $41,000 after buying an additional 1,901 shares during the period. FMR LLC increased its stake in ARMOUR Residential REIT by 57.7% in the third quarter. FMR LLC now owns 11,414 shares of the real estate investment trust’s stock worth $49,000 after purchasing an additional 4,175 shares during the period. Finally, Captrust Financial Advisors purchased a new stake in ARMOUR Residential REIT in the second quarter worth $50,000. 42.72% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
ARR has been the subject of a number of recent analyst reports. StockNews.com raised ARMOUR Residential REIT to a “sell” rating in a research report on Thursday, December 7th. UBS Group began coverage on ARMOUR Residential REIT in a research report on Wednesday, December 6th. They issued a “neutral” rating and a $18.50 target price for the company. Finally, B. Riley upped their price target on shares of ARMOUR Residential REIT from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Thursday, November 16th.
About ARMOUR Residential REIT
ARMOUR Residential REIT, Inc invests in residential mortgage-backed securities (MBS) in the United States. The company's 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, as well as money market instruments.
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