ARMOUR Residential REIT (NYSE:ARR) Announces Earnings Results, Misses Expectations By $0.03 EPS

ARMOUR Residential REIT (NYSE:ARR) announced its earnings results on Wednesday. The real estate investment trust reported $0.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.03), Zacks reports. The firm had revenue of $92.10 million during the quarter, compared to analyst estimates of $63.25 million. ARMOUR Residential REIT had a net margin of 9.01% and a return on equity of 16.72%. During the same period last year, the company earned $1.00 earnings per share.

ARMOUR Residential REIT Stock Up 1.3%

Shares of ARR opened at $15.97 on Friday. ARMOUR Residential REIT has a 52-week low of $13.18 and a 52-week high of $19.77. The firm has a market capitalization of $1.46 billion, a PE ratio of 399.28 and a beta of 1.41. The firm has a 50-day moving average price of $15.22 and a 200 day moving average price of $15.83.

ARMOUR Residential REIT Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, November 28th. Shareholders of record on Monday, November 17th will be given a dividend of $0.24 per share. This represents a c) dividend on an annualized basis and a yield of 18.0%. The ex-dividend date is Monday, November 17th. ARMOUR Residential REIT’s payout ratio is 7,200.00%.

Institutional Trading of ARMOUR Residential REIT

A number of large investors have recently added to or reduced their stakes in the business. Engineers Gate Manager LP purchased a new position in ARMOUR Residential REIT during the 2nd quarter valued at about $719,000. State of Tennessee Department of Treasury grew its stake in shares of ARMOUR Residential REIT by 51.8% in the 2nd quarter. State of Tennessee Department of Treasury now owns 34,069 shares of the real estate investment trust’s stock valued at $573,000 after buying an additional 11,625 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of ARMOUR Residential REIT by 45.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 28,541 shares of the real estate investment trust’s stock valued at $480,000 after buying an additional 8,873 shares in the last quarter. New York State Common Retirement Fund grew its position in ARMOUR Residential REIT by 65.9% in the second quarter. New York State Common Retirement Fund now owns 27,190 shares of the real estate investment trust’s stock worth $457,000 after acquiring an additional 10,800 shares in the last quarter. Finally, Quantbot Technologies LP bought a new position in shares of ARMOUR Residential REIT in the 2nd quarter valued at approximately $406,000. 54.17% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

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.