ARMOUR Residential REIT, Inc. (NYSE:ARR) Declares $0.24 Monthly Dividend

ARMOUR Residential REIT, Inc. (NYSE:ARR) declared a monthly dividend on Tuesday, September 24th, NASDAQ reports. Shareholders of record on Tuesday, October 15th will be paid a dividend of 0.24 per share by the real estate investment trust on Wednesday, October 30th. This represents a $2.88 dividend on an annualized basis and a yield of 14.24%. The ex-dividend date is Tuesday, October 15th.

ARMOUR Residential REIT has a payout ratio of 70.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect ARMOUR Residential REIT to earn $3.96 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 72.7%.

ARMOUR Residential REIT Trading Down 1.1 %

Shares of ARMOUR Residential REIT stock traded down $0.23 on Wednesday, hitting $20.23. 928,112 shares of the company traded hands, compared to its average volume of 1,109,813. The company has a market cap of $986.37 million, a PE ratio of -28.21 and a beta of 1.50. The stock’s 50 day moving average price is $20.44 and its 200-day moving average price is $19.64. ARMOUR Residential REIT has a 52 week low of $13.31 and a 52 week high of $22.40.

ARMOUR Residential REIT (NYSE:ARR) last issued its earnings results on Wednesday, July 24th. The real estate investment trust reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $28.47 million. As a group, research analysts anticipate that ARMOUR Residential REIT will post 3.81 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ARR has been the subject of a number of research reports. Janney Montgomery Scott started 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 objective for the company. StockNews.com cut shares of ARMOUR Residential REIT from a “hold” rating to a “sell” rating in a research report on Wednesday, August 21st. JMP Securities reissued a “market perform” rating on shares of ARMOUR Residential REIT in a report on Wednesday, August 28th. Finally, B. Riley upped 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. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. According to MarketBeat, ARMOUR Residential REIT presently has a consensus rating of “Hold” and an average target price of $19.83.

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.