TIAA CREF Investment Management LLC cut its holdings in shares of ARMOUR Residential REIT, Inc. (NYSE:ARR) by 2.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 98,592 shares of the real estate investment trust’s stock after selling 2,359 shares during the period. TIAA CREF Investment Management LLC owned approximately 0.24% of ARMOUR Residential REIT worth $2,465,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. IFP Advisors Inc boosted its position in shares of ARMOUR Residential REIT by 1.1% during the second quarter. IFP Advisors Inc now owns 6,484 shares of the real estate investment trust’s stock valued at $162,000 after buying an additional 69 shares during the last quarter. BNP Paribas Arbitrage SA lifted its holdings in ARMOUR Residential REIT by 136.8% in the second quarter. BNP Paribas Arbitrage SA now owns 7,092 shares of the real estate investment trust’s stock valued at $177,000 after acquiring an additional 4,097 shares during the period. OMERS ADMINISTRATION Corp bought a new position in ARMOUR Residential REIT in the second quarter valued at about $212,000. Sei Investments Co. lifted its holdings in ARMOUR Residential REIT by 197.2% in the second quarter. Sei Investments Co. now owns 10,696 shares of the real estate investment trust’s stock valued at $268,000 after acquiring an additional 7,097 shares during the period. Finally, Legal & General Group Plc lifted its holdings in ARMOUR Residential REIT by 3.2% in the second quarter. Legal & General Group Plc now owns 11,643 shares of the real estate investment trust’s stock valued at $292,000 after acquiring an additional 364 shares during the period. 46.06% of the stock is currently owned by institutional investors.
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ARMOUR Residential REIT, Inc. (ARR) opened at 25.42 on Monday. The firm has a 50-day moving average price of $26.72 and a 200-day moving average price of $25.84. The company has a market cap of $1.05 billion, a P/E ratio of 3.34 and a beta of 0.77. ARMOUR Residential REIT, Inc. has a 12-month low of $20.29 and a 12-month high of $27.60.
ARMOUR Residential REIT (NYSE:ARR) last issued its quarterly earnings data on Wednesday, October 25th. The real estate investment trust reported $0.69 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.03. The business had revenue of $39.64 million during the quarter, compared to analysts’ expectations of $37.49 million. ARMOUR Residential REIT had a return on equity of 9.39% and a net margin of 76.46%. During the same quarter in the previous year, the firm posted $0.68 EPS. On average, analysts forecast that ARMOUR Residential REIT, Inc. will post $2.69 earnings per share for the current fiscal year.
The business also recently disclosed a monthly dividend, which will be paid on Monday, November 27th. Stockholders of record on Wednesday, November 15th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $2.28 annualized dividend and a dividend yield of 8.97%. ARMOUR Residential REIT’s dividend payout ratio (DPR) is presently 45.06%.
A number of research analysts have weighed in on the company. Zacks Investment Research downgraded ARMOUR Residential REIT from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 17th. ValuEngine raised ARMOUR Residential REIT from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. Finally, BidaskClub raised ARMOUR Residential REIT from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 10th. Two equities research analysts have rated the stock with a hold rating and two have given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $24.00.
About ARMOUR Residential REIT
ARMOUR Residential REIT, Inc is a real estate investment trust. The Company invests in and manages a leveraged portfolio of mortgage-backed securities (MBS) and mortgage loans. The Company invests in residential mortgage backed securities issued or guaranteed by a United States Government-sponsored enterprise (GSE), such as the Federal National Mortgage Association or the Federal Home Loan Mortgage Corporation, or a government agency, such as the Government National Mortgage Association (collectively, Agency Securities).
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