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

ARMOUR Residential REIT, Inc. (NYSE:ARR) announced a monthly dividend on Wednesday, March 26th, Wall Street Journal reports. Investors 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 dividend on an annualized basis and a dividend yield of 16.32%. The ex-dividend date of this dividend is Tuesday, April 15th.

ARMOUR Residential REIT has a payout ratio of 76.8% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities 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 Stock Down 2.8 %

NYSE ARR traded down $0.52 during trading on Wednesday, hitting $17.65. 4,046,977 shares of the stock traded hands, compared to its average volume of 1,572,029. The company has a market capitalization of $1.77 billion, a P/E ratio of -41.03 and a beta of 1.53. ARMOUR Residential REIT has a 12-month low of $17.35 and a 12-month high of $21.93. The firm has a 50-day simple moving average of $18.76 and a 200-day simple moving average of $19.15.

Wall Street Analyst Weigh In

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

Insider Activity at ARMOUR Residential REIT

In other ARMOUR Residential REIT news, Director Stewart J. Paperin sold 24,852 shares of the stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $18.78, for a total transaction of $466,720.56. Following the sale, the director now owns 363 shares of the company’s stock, valued at approximately $6,817.14. This trade represents a 98.56 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert C. Hain sold 2,500 shares of ARMOUR Residential REIT 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 transaction, the director now directly owns 6,793 shares in the company, 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 currently owned by corporate insiders.

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.