PNC Financial Services Group Inc. Sells 14,445 Shares of ARMOUR Residential REIT, Inc. (NYSE:ARR)

PNC Financial Services Group Inc. cut its holdings in ARMOUR Residential REIT, Inc. (NYSE:ARR) by 69.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,301 shares of the real estate investment trust’s stock after selling 14,445 shares during the quarter. PNC Financial Services Group Inc.’s holdings in ARMOUR Residential REIT were worth $122,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of ARR. Vanguard Group Inc. lifted its position in ARMOUR Residential REIT by 16.6% during the third quarter. Vanguard Group Inc. now owns 24,968,254 shares of the real estate investment trust’s stock valued at $106,115,000 after purchasing an additional 3,550,122 shares during the last quarter. Advisors Asset Management Inc. grew its position in ARMOUR Residential REIT by 153.1% in the third quarter. Advisors Asset Management Inc. now owns 628,499 shares of the real estate investment trust’s stock worth $2,671,000 after acquiring an additional 380,225 shares in the last quarter. Wolverine Asset Management LLC purchased a new position in ARMOUR Residential REIT in the fourth quarter worth about $6,913,000. Schonfeld Strategic Advisors LLC bought a new stake in ARMOUR Residential REIT during the third quarter worth approximately $779,000. Finally, Teachers Retirement System of The State of Kentucky raised its position in ARMOUR Residential REIT by 65.5% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 61,174 shares of the real estate investment trust’s stock valued at $260,000 after purchasing an additional 24,200 shares during the period. Institutional investors own 54.17% of the company’s stock.

ARMOUR Residential REIT Stock Performance

Shares of ARR stock opened at $19.48 on Friday. The stock has a 50 day moving average price of $19.20 and a 200 day moving average price of $19.17. ARMOUR Residential REIT, Inc. has a 52-week low of $13.31 and a 52-week high of $26.90. The firm has a market capitalization of $949.65 million, a P/E ratio of -27.06 and a beta of 1.51.

ARMOUR Residential REIT (NYSE:ARR) last issued its earnings results on Friday, April 26th. The real estate investment trust reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.22. ARMOUR Residential REIT had a negative net margin of 3.83% and a positive return on equity of 15.68%. The firm had revenue of $141.48 million during the quarter, compared to analyst estimates of $39.60 million. As a group, sell-side analysts forecast that ARMOUR Residential REIT, Inc. will post 3.62 EPS for the current year.

ARMOUR Residential REIT Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, July 30th. Stockholders of record on Monday, July 15th will be given a dividend of $0.24 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 14.78%. The ex-dividend date of this dividend is Monday, July 15th. ARMOUR Residential REIT’s dividend payout ratio (DPR) is presently -399.99%.

Wall Street Analysts Forecast Growth

ARR has been the subject of a number of recent research reports. JMP Securities reiterated a “market perform” rating on shares of ARMOUR Residential REIT in a report on Thursday, April 18th. Janney Montgomery Scott started coverage on shares of ARMOUR Residential REIT in a research report on Thursday, June 6th. They set a “neutral” rating and a $20.00 price objective on the stock. Finally, StockNews.com lowered shares of ARMOUR Residential REIT from a “hold” rating to a “sell” rating in a report on Friday, April 5th. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. Based on data from MarketBeat.com, ARMOUR Residential REIT currently has an average rating of “Hold” and an average price target of $19.50.

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.