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

ARMOUR Residential REIT, Inc. (NYSE:ARR) declared a monthly dividend on Tuesday, September 24th, NASDAQ reports. Stockholders 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 annualized dividend and a dividend yield of 14.60%. The ex-dividend date of this dividend is Tuesday, October 15th.

ARMOUR Residential REIT has a dividend payout ratio of 70.6% meaning its dividend is sufficiently covered by earnings. Equities research 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 Stock Performance

Shares of ARMOUR Residential REIT stock opened at $19.73 on Monday. The stock has a 50 day moving average of $20.22 and a 200 day moving average of $19.71. The firm has a market capitalization of $961.88 million, a price-to-earnings ratio of -27.40 and a beta of 1.50. ARMOUR Residential REIT has a fifty-two week low of $13.31 and a fifty-two week high of $21.93.

ARMOUR Residential REIT (NYSE:ARR) last posted its earnings results on Wednesday, July 24th. The real estate investment trust reported $1.08 EPS for the quarter, beating 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 analysts’ expectations of $28.47 million. Analysts forecast that ARMOUR Residential REIT will post 3.81 EPS for the current year.

Insider Transactions at ARMOUR Residential REIT

In other ARMOUR Residential REIT news, Chairman Daniel C. Staton bought 10,000 shares of the company’s stock in a transaction that occurred on Thursday, October 3rd. The shares were purchased at an average price of $19.86 per share, with a total value of $198,600.00. Following the completion of the acquisition, the chairman now directly owns 24,040 shares of the company’s stock, valued at $477,434.40. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. StockNews.com cut shares of ARMOUR Residential REIT from a “hold” rating to a “sell” rating in a research report on Wednesday, August 21st. B. Riley lifted their target price on ARMOUR Residential REIT from $20.00 to $21.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Finally, JMP Securities restated a “market perform” rating on shares of ARMOUR Residential REIT in a report on Wednesday, August 28th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company. According to data from MarketBeat, ARMOUR Residential REIT has a consensus rating of “Hold” and a consensus price target of $19.83.

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.