ARMOUR Residential REIT (NYSE:ARR) Downgraded to Strong Sell Rating by Zacks Research

ARMOUR Residential REIT (NYSE:ARR) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Thursday,Zacks.com reports.

ARR has been the topic of several other research reports. Compass Point assumed coverage on ARMOUR Residential REIT in a research report on Monday. They set a “buy” rating and a $18.50 target price on the stock. Weiss Ratings reiterated a “sell (d)” rating on shares of ARMOUR Residential REIT in a research note on Wednesday, October 8th. Finally, UBS Group reissued a “neutral” rating and set a $16.00 price objective on shares of ARMOUR Residential REIT in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $17.25.

ARMOUR Residential REIT Stock Up 1.2%

Shares of NYSE:ARR opened at $17.41 on Thursday. The firm has a market capitalization of $1.95 billion, a PE ratio of 435.25 and a beta of 1.45. The company has a 50-day moving average price of $16.63 and a two-hundred day moving average price of $16.14. ARMOUR Residential REIT has a twelve month low of $13.18 and a twelve month high of $19.33.

ARMOUR Residential REIT (NYSE:ARR) last announced its quarterly earnings results on Wednesday, October 22nd. The real estate investment trust reported $0.72 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.03). The business had revenue of $210.90 million for the quarter, compared to analysts’ expectations of $63.25 million. ARMOUR Residential REIT had a net margin of 9.01% and a return on equity of 15.37%. During the same quarter in the previous year, the company posted $1.00 earnings per share. Analysts anticipate that ARMOUR Residential REIT will post 3.8 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ARMOUR Residential REIT

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ARR. Quarry LP raised its holdings in shares of ARMOUR Residential REIT by 620.6% in the 3rd quarter. Quarry LP now owns 1,823 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 1,570 shares in the last quarter. Fifth Third Bancorp grew its holdings in shares of ARMOUR Residential REIT by 184.3% during the second quarter. Fifth Third Bancorp now owns 2,198 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 1,425 shares in the last quarter. Allworth Financial LP grew its holdings in shares of ARMOUR Residential REIT by 139.1% during the second quarter. Allworth Financial LP now owns 2,675 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 1,556 shares in the last quarter. Danske Bank A S bought a new position in shares of ARMOUR Residential REIT in the third quarter worth approximately $42,000. Finally, EverSource Wealth Advisors LLC increased its position in shares of ARMOUR Residential REIT by 120.8% in the third quarter. EverSource Wealth Advisors LLC now owns 2,893 shares of the real estate investment trust’s stock worth $43,000 after purchasing an additional 1,583 shares during the last quarter. 54.17% of the stock is currently owned by hedge funds and other institutional investors.

ARMOUR Residential REIT Company Profile

ARMOUR Residential REIT (NYSE:ARR) is a mortgage real estate investment trust that was formed in 2008 to acquire and manage a portfolio of residential mortgage-backed securities (RMBS). The company’s investments are primarily agency-sponsored and agency-guaranteed RMBS issued by U.S. government-sponsored enterprises, along with credit risk transfer securities and select non-agency residential and multifamily RMBS. By focusing on high-quality mortgage assets, ARMOUR Residential REIT seeks to generate stable income and preserve capital through diversified exposure to the U.S.