Maryland State Retirement & Pension System Has $329,000 Holdings in ARMOUR Residential REIT, Inc. (NYSE:ARR)

Maryland State Retirement & Pension System cut its stake in shares of ARMOUR Residential REIT, Inc. (NYSE:ARR) by 4.5% in the second quarter, Holdings Channel reports. The firm owned 16,998 shares of the real estate investment trust’s stock after selling 809 shares during the quarter. Maryland State Retirement & Pension System’s holdings in ARMOUR Residential REIT were worth $329,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in ARR. Global Retirement Partners LLC grew its stake in shares of ARMOUR Residential REIT by 454.7% during the first quarter. Global Retirement Partners LLC now owns 1,664 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 1,364 shares during the period. Quadrant Capital Group LLC grew its stake in shares of ARMOUR Residential REIT by 74.0% during the fourth quarter. Quadrant Capital Group LLC now owns 2,469 shares of the real estate investment trust’s stock worth $48,000 after purchasing an additional 1,050 shares during the period. Summit Securities Group LLC acquired a new stake in shares of ARMOUR Residential REIT during the second quarter worth $99,000. Parisi Gray Wealth Management grew its stake in shares of ARMOUR Residential REIT by 6.0% during the second quarter. Parisi Gray Wealth Management now owns 16,000 shares of the real estate investment trust’s stock worth $310,000 after purchasing an additional 900 shares during the period. Finally, Virtu Financial LLC acquired a new stake in shares of ARMOUR Residential REIT during the fourth quarter worth $431,000. 54.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. B. Riley lifted their target price on ARMOUR Residential REIT from $20.00 to $21.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. JMP Securities reiterated a “market perform” rating on shares of ARMOUR Residential REIT in a report on Wednesday, August 28th. Janney Montgomery Scott assumed coverage on ARMOUR Residential REIT in a report on Thursday, June 6th. They set a “neutral” rating and a $20.00 target price on the stock. Finally, StockNews.com lowered ARMOUR Residential REIT from a “hold” rating to a “sell” rating in a report on Wednesday, August 21st. One analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $19.83.

ARMOUR Residential REIT Price Performance

Shares of ARMOUR Residential REIT stock opened at $20.23 on Thursday. The firm has a market cap of $986.01 million, a price-to-earnings ratio of -28.09 and a beta of 1.51. The stock’s 50-day moving average is $20.27 and its 200-day moving average is $19.51. ARMOUR Residential REIT, Inc. has a one year low of $13.31 and a one year high of $24.85.

ARMOUR Residential REIT (NYSE:ARR) last released its earnings results on Wednesday, July 24th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.09. ARMOUR Residential REIT had a positive return on equity of 16.64% and a negative net margin of 19.85%. The business had revenue of $129.93 million for the quarter, compared to analyst estimates of $28.47 million. On average, equities analysts expect that ARMOUR Residential REIT, Inc. will post 3.81 EPS for the current year.

ARMOUR Residential REIT Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, September 27th. Investors of record on Monday, September 16th will be issued a dividend of $0.24 per share. The ex-dividend date is Monday, September 16th. This represents a $2.88 annualized dividend and a yield of 14.24%. ARMOUR Residential REIT’s payout ratio is presently -400.00%.

About ARMOUR Residential REIT

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.