ARMOUR Residential REIT, Inc. (NYSE:ARR – Get Free Report) was the target of a significant decline in short interest in August. As of August 31st, there was short interest totalling 4,170,000 shares, a decline of 6.9% from the August 15th total of 4,480,000 shares. Based on an average trading volume of 1,070,000 shares, the short-interest ratio is presently 3.9 days. Approximately 8.6% of the company’s shares are sold short.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on ARR shares. Janney Montgomery Scott assumed coverage on shares of ARMOUR Residential REIT in a research note on Thursday, June 6th. They issued a “neutral” rating and a $20.00 price target on the stock. StockNews.com cut ARMOUR Residential REIT from a “hold” rating to a “sell” rating in a research report on Wednesday, August 21st. B. Riley increased their target price on ARMOUR Residential REIT from $20.00 to $21.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Finally, JMP Securities restated a “market perform” rating on shares of ARMOUR Residential REIT in a research note on Wednesday, August 28th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $19.83.
Read Our Latest Stock Analysis on ARMOUR Residential REIT
Institutional Investors Weigh In On ARMOUR Residential REIT
ARMOUR Residential REIT Stock Performance
Shares of ARR opened at $20.91 on Friday. ARMOUR Residential REIT has a fifty-two week low of $13.31 and a fifty-two week high of $24.30. The company’s fifty day moving average is $20.48 and its 200 day moving average is $19.62. The stock has a market capitalization of $1.02 billion, a PE ratio of -29.04 and a beta of 1.50.
ARMOUR Residential REIT (NYSE:ARR – Get Free Report) last posted its quarterly earnings data on Wednesday, July 24th. The real estate investment trust reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.09. ARMOUR Residential REIT had a negative net margin of 19.85% and a positive return on equity of 16.64%. The company had revenue of $129.93 million for the quarter, compared to analyst estimates of $28.47 million. As a group, research analysts forecast that ARMOUR Residential REIT will post 3.81 earnings per share for the current year.
ARMOUR Residential REIT Dividend Announcement
The company also recently announced a monthly dividend, which will be paid on Friday, September 27th. Shareholders of record on Monday, September 16th will be issued a $0.24 dividend. This represents a $2.88 annualized dividend and a dividend yield of 13.77%. The ex-dividend date is Monday, September 16th. ARMOUR Residential REIT’s dividend payout ratio is -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.
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