Geode Capital Management LLC Purchases 426,536 Shares of ARMOUR Residential REIT, Inc. $ARR

Geode Capital Management LLC lifted its position in shares of ARMOUR Residential REIT, Inc. (NYSE:ARR) by 27.7% during the 2nd quarter, Holdings Channel.com reports. The firm owned 1,968,349 shares of the real estate investment trust’s stock after purchasing an additional 426,536 shares during the quarter. Geode Capital Management LLC’s holdings in ARMOUR Residential REIT were worth $33,092,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. PNC Financial Services Group Inc. lifted its position in ARMOUR Residential REIT by 28.9% in the second quarter. PNC Financial Services Group Inc. now owns 15,315 shares of the real estate investment trust’s stock worth $257,000 after purchasing an additional 3,434 shares during the period. Allworth Financial LP raised its stake in shares of ARMOUR Residential REIT by 139.1% in the 2nd quarter. Allworth Financial LP now owns 2,675 shares of the real estate investment trust’s stock valued at $45,000 after buying an additional 1,556 shares in the last quarter. ProShare Advisors LLC raised its stake in shares of ARMOUR Residential REIT by 35.3% in the 2nd quarter. ProShare Advisors LLC now owns 18,402 shares of the real estate investment trust’s stock valued at $309,000 after buying an additional 4,804 shares in the last quarter. Penserra Capital Management LLC lifted its holdings in shares of ARMOUR Residential REIT by 7.3% during the 2nd quarter. Penserra Capital Management LLC now owns 64,192 shares of the real estate investment trust’s stock worth $1,079,000 after acquiring an additional 4,369 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of ARMOUR Residential REIT by 26.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 473,540 shares of the real estate investment trust’s stock valued at $7,960,000 after acquiring an additional 100,412 shares in the last quarter. 54.17% of the stock is currently owned by institutional investors.

ARMOUR Residential REIT Stock Up 2.3%

Shares of ARR stock opened at $17.44 on Friday. The company has a market capitalization of $1.95 billion, a P/E ratio of 436.00 and a beta of 1.44. ARMOUR Residential REIT, Inc. has a 12-month low of $13.18 and a 12-month high of $19.64. The firm has a 50-day moving average price of $15.94 and a 200 day moving average price of $16.06.

ARMOUR Residential REIT (NYSE:ARR) last issued its quarterly earnings data on Wednesday, October 22nd. The real estate investment trust reported $0.72 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.03). ARMOUR Residential REIT had a return on equity of 15.37% and a net margin of 9.01%.The firm had revenue of $210.90 million for the quarter, compared to the consensus estimate of $63.25 million. During the same period in the prior year, the company posted $1.00 earnings per share. As a group, research analysts expect that ARMOUR Residential REIT, Inc. will post 3.8 earnings per share for the current year.

ARMOUR Residential REIT Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, December 29th. Investors of record on Monday, December 15th will be issued a dividend of $0.24 per share. This represents a c) dividend on an annualized basis and a yield of 16.5%. The ex-dividend date of this dividend is Monday, December 15th. ARMOUR Residential REIT’s dividend payout ratio (DPR) is currently 7,200.00%.

Wall Street Analyst Weigh In

ARR has been the topic of a number of analyst reports. UBS Group reissued a “neutral” rating and issued a $16.00 target price on shares of ARMOUR Residential REIT in a research note on Wednesday, October 8th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of ARMOUR Residential REIT in a report on Wednesday, October 8th. Finally, Zacks Research upgraded ARMOUR Residential REIT from a “strong sell” rating to a “hold” rating in a research note on Friday, October 10th. One equities research analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $16.00.

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.