PNC Financial Services Group Inc. Sells 14,445 Shares of ARMOUR Residential REIT, Inc. (NYSE:ARR)

PNC Financial Services Group Inc. lessened its stake in ARMOUR Residential REIT, Inc. (NYSE:ARR) by 69.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,301 shares of the real estate investment trust’s stock after selling 14,445 shares during the period. PNC Financial Services Group Inc.’s holdings in ARMOUR Residential REIT were worth $122,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in ARR. Quadrant Capital Group LLC lifted its holdings in shares of ARMOUR Residential REIT by 74.0% during the 4th quarter. Quadrant Capital Group LLC now owns 2,469 shares of the real estate investment trust’s stock worth $48,000 after acquiring an additional 1,050 shares during the last quarter. Strs Ohio purchased a new position in shares of ARMOUR Residential REIT during the 4th quarter valued at about $187,000. Maryland State Retirement & Pension System bought a new stake in ARMOUR Residential REIT in the 4th quarter worth approximately $344,000. Virtu Financial LLC purchased a new stake in ARMOUR Residential REIT in the fourth quarter worth approximately $431,000. Finally, Teachers Retirement System of The State of Kentucky grew its position in ARMOUR Residential REIT by 65.5% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 61,174 shares of the real estate investment trust’s stock valued at $260,000 after acquiring an additional 24,200 shares during the last quarter. Institutional investors own 54.17% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on ARR shares. Janney Montgomery Scott initiated coverage on shares of ARMOUR Residential REIT in a report on Thursday, June 6th. They issued a “neutral” rating and a $20.00 price objective for the company. StockNews.com cut ARMOUR Residential REIT from a “hold” rating to a “sell” rating in a research note on Friday, April 5th. Finally, JMP Securities reissued a “market perform” rating on shares of ARMOUR Residential REIT in a research note on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $19.50.

ARMOUR Residential REIT Stock Up 0.2 %

Shares of ARR opened at $19.48 on Friday. The stock has a market capitalization of $949.65 million, a P/E ratio of -27.06 and a beta of 1.51. ARMOUR Residential REIT, Inc. has a twelve month low of $13.31 and a twelve month high of $26.90. The firm has a fifty day simple moving average of $19.20 and a two-hundred day simple moving average of $19.17.

ARMOUR Residential REIT (NYSE:ARR) last posted its earnings results on Friday, April 26th. The real estate investment trust reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.22. ARMOUR Residential REIT had a negative net margin of 3.83% and a positive return on equity of 15.68%. The company had revenue of $141.48 million during the quarter, compared to analyst estimates of $39.60 million. Sell-side analysts expect that ARMOUR Residential REIT, Inc. will post 3.62 EPS for the current fiscal year.

ARMOUR Residential REIT Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, July 30th. Stockholders of record on Monday, July 15th will be given a $0.24 dividend. The ex-dividend date of this dividend is Monday, July 15th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 14.78%. ARMOUR Residential REIT’s dividend payout ratio is currently -399.99%.

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.