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

ARMOUR Residential REIT, Inc. (NYSE:ARR) declared a monthly dividend on Tuesday, October 22nd, NASDAQ reports. Shareholders of record on Friday, November 15th will be given a dividend of 0.24 per share by the real estate investment trust on Wednesday, November 27th. This represents a $2.88 dividend on an annualized basis and a yield of 14.71%. The ex-dividend date of this dividend is Friday, November 15th.

ARMOUR Residential REIT has a dividend payout ratio of 70.4% indicating that its dividend is sufficiently covered by earnings. 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 Price Performance

ARR stock opened at $19.58 on Thursday. The stock has a market capitalization of $954.56 million, a P/E ratio of -27.19 and a beta of 1.50. The business has a 50-day moving average of $20.20 and a 200-day moving average of $19.73. 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 quarterly earnings data on Wednesday, July 24th. The real estate investment trust reported $1.08 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.09. The company had revenue of $129.93 million during the quarter, compared to analysts’ expectations of $28.47 million. ARMOUR Residential REIT had a positive return on equity of 16.64% and a negative net margin of 19.85%. Equities analysts expect that ARMOUR Residential REIT will post 3.81 EPS for the current year.

Insider Buying and Selling

In other ARMOUR Residential REIT news, Chairman Daniel C. Staton acquired 10,000 shares of the company’s stock in a transaction on Thursday, October 3rd. The shares were purchased at an average price of $19.86 per share, for a total transaction of $198,600.00. Following the completion of the purchase, the chairman now directly owns 24,040 shares of the company’s stock, valued at approximately $477,434.40. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.35% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. JMP Securities reaffirmed a “market perform” rating on shares of ARMOUR Residential REIT in a research report on Wednesday, August 28th. B. Riley upped their price objective on ARMOUR Residential REIT from $20.00 to $21.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Finally, StockNews.com lowered ARMOUR Residential REIT from a “hold” rating to a “sell” rating in a report on Wednesday, August 21st. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. According to data from MarketBeat, the company presently has an average 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.