ARMOUR Residential REIT, Inc. (NYSE:ARR – Get Free Report) was the target of a significant drop in short interest in August. As of August 31st, there was short interest totalling 4,170,000 shares, a drop of 6.9% from the August 15th total of 4,480,000 shares. Currently, 8.6% of the shares of the stock are sold short. Based on an average daily volume of 1,070,000 shares, the short-interest ratio is presently 3.9 days.
Analyst Upgrades and Downgrades
ARR has been the subject of a number of research reports. StockNews.com cut shares of ARMOUR Residential REIT from a “hold” rating to a “sell” rating in a research note on Wednesday, August 21st. Janney Montgomery Scott started coverage on ARMOUR Residential REIT in a report on Thursday, June 6th. They set a “neutral” rating and a $20.00 target price for the company. JMP Securities reaffirmed a “market perform” rating on shares of ARMOUR Residential REIT in a research note on Wednesday, August 28th. Finally, B. Riley raised their price objective on ARMOUR Residential REIT from $20.00 to $21.00 and gave the company a “neutral” rating in a report on Monday, July 29th. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $19.83.
Institutional Investors Weigh In On ARMOUR Residential REIT
ARMOUR Residential REIT Price Performance
Shares of ARMOUR Residential REIT stock opened at $20.69 on Thursday. The stock’s 50 day simple moving average is $20.47 and its 200-day simple moving average is $19.61. The stock has a market cap of $1.01 billion, a P/E ratio of -28.74 and a beta of 1.50. ARMOUR Residential REIT has a 1-year low of $13.31 and a 1-year high of $24.85.
ARMOUR Residential REIT (NYSE:ARR – Get Free Report) last released its quarterly earnings data on Wednesday, July 24th. The real estate investment trust reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.09. The company had revenue of $129.93 million for the quarter, compared to analyst estimates of $28.47 million. ARMOUR Residential REIT had a positive return on equity of 16.64% and a negative net margin of 19.85%. As a group, research analysts expect that ARMOUR Residential REIT will post 3.81 EPS for the current fiscal year.
ARMOUR Residential REIT Dividend Announcement
The company also recently disclosed a monthly dividend, which will be paid on Friday, September 27th. Investors of record on Monday, September 16th will be issued a $0.24 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 13.92%. The ex-dividend date of this dividend is Monday, September 16th. ARMOUR Residential REIT’s dividend payout ratio is currently -400.00%.
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.
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