B. Riley Boosts ARMOUR Residential REIT (NYSE:ARR) Price Target to $21.00

ARMOUR Residential REIT (NYSE:ARR) had its price target boosted by equities researchers at B. Riley from $20.00 to $21.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the real estate investment trust’s stock. B. Riley’s price objective suggests a potential upside of 2.39% from the company’s current price.

A number of other analysts have also issued reports on ARR. StockNews.com lowered shares of ARMOUR Residential REIT from a “hold” rating to a “sell” rating in a research note on Friday, April 5th. JMP Securities reissued a “market perform” rating on shares of ARMOUR Residential REIT in a research report on Thursday, April 18th. Finally, Janney Montgomery Scott assumed 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 target on the stock. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. Based on data from MarketBeat.com, ARMOUR Residential REIT currently has an average rating of “Hold” and a consensus price target of $19.83.

ARMOUR Residential REIT Stock Up 0.2 %

Shares of ARR traded up $0.04 on Monday, hitting $20.51. 731,828 shares of the stock traded hands, compared to its average volume of 1,087,118. The firm has a market capitalization of $1.00 billion, a P/E ratio of -28.58 and a beta of 1.51. ARMOUR Residential REIT has a 1 year low of $13.31 and a 1 year high of $26.05. The stock’s 50 day moving average is $19.75 and its two-hundred day moving average is $19.32.

ARMOUR Residential REIT (NYSE:ARR) last released its quarterly earnings data 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 negative net margin of 19.85% and a positive return on equity of 16.64%. The company had revenue of $129.93 million during the quarter, compared to the consensus estimate of $28.47 million. Research analysts forecast that ARMOUR Residential REIT will post 3.62 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ARR. Global Retirement Partners LLC increased its stake in shares of ARMOUR Residential REIT by 454.7% in the first quarter. Global Retirement Partners LLC now owns 1,664 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 1,364 shares during the period. Quadrant Capital Group LLC boosted its position in ARMOUR Residential REIT by 74.0% during the 4th quarter. Quadrant Capital Group LLC now owns 2,469 shares of the real estate investment trust’s stock worth $48,000 after acquiring an additional 1,050 shares during the period. Summit Securities Group LLC bought a new position in shares of ARMOUR Residential REIT in the second quarter worth $99,000. Strs Ohio acquired a new position in shares of ARMOUR Residential REIT during the fourth quarter valued at $187,000. Finally, Parisi Gray Wealth Management raised 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 valued at $310,000 after purchasing an additional 900 shares in the last quarter. Institutional investors and hedge funds own 54.17% of the company’s stock.

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.