ARMOUR Residential REIT, Inc. (ARR) to Issue Monthly Dividend of $0.24 on April 29th

ARMOUR Residential REIT, Inc. (NYSE:ARR) declared a monthly dividend on Tuesday, March 25th, Wall Street Journal reports. Shareholders of record on Tuesday, April 15th will be given a dividend of 0.24 per share by the real estate investment trust on Tuesday, April 29th. This represents a $2.88 annualized dividend and a yield of 16.32%. The ex-dividend date of this dividend is Tuesday, April 15th.

ARMOUR Residential REIT has a dividend payout ratio of 76.8% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Analysts expect ARMOUR Residential REIT to earn $4.25 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 67.8%.

ARMOUR Residential REIT Trading Down 2.8 %

Shares of ARR stock opened at $17.65 on Thursday. ARMOUR Residential REIT has a 12 month low of $17.35 and a 12 month high of $21.93. The company has a market cap of $1.77 billion, a P/E ratio of -41.03 and a beta of 1.53. The firm has a fifty day moving average price of $18.75 and a 200 day moving average price of $19.14.

Insiders Place Their Bets

In related news, Director Stewart J. Paperin sold 24,852 shares of the stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $18.78, for a total value of $466,720.56. Following the completion of the sale, the director now directly owns 363 shares of the company’s stock, valued at approximately $6,817.14. This represents a 98.56 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert C. Hain sold 2,500 shares of the stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $18.07, for a total transaction of $45,175.00. Following the completion of the sale, the director now owns 6,793 shares of the company’s stock, valued at approximately $122,749.51. The trade was a 26.90 % decrease in their position. The disclosure for this sale can be found here. 0.35% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on ARR shares. B. Riley upgraded shares of ARMOUR Residential REIT to a “hold” rating in a report on Tuesday, January 7th. StockNews.com lowered shares of ARMOUR Residential REIT from a “hold” rating to a “sell” rating in a research report on Friday, February 14th. BTIG Research initiated coverage on shares of ARMOUR Residential REIT in a research note on Monday, February 10th. They set a “neutral” rating for the company. Finally, JMP Securities reaffirmed a “market perform” rating on shares of ARMOUR Residential REIT in a research report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $20.50.

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.