ARMOUR Residential REIT, Inc. Declares Monthly Dividend of $0.10 (NYSE:ARR)

ARMOUR Residential REIT, Inc. (NYSE:ARRGet Rating) announced a monthly dividend on Monday, May 23rd, Zacks reports. Investors of record on Wednesday, June 15th will be given a dividend of 0.10 per share by the real estate investment trust on Wednesday, June 29th. This represents a $1.20 dividend on an annualized basis and a yield of 15.96%. The ex-dividend date of this dividend is Tuesday, June 14th.

ARMOUR Residential REIT has decreased its dividend payment by an average of 19.3% annually over the last three years. ARMOUR Residential REIT has a dividend payout ratio of 115.4% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect ARMOUR Residential REIT to earn $1.08 per share next year, which means the company may not be able to cover its $1.20 annual dividend with an expected future payout ratio of 111.1%.

Shares of ARR traded up $0.04 during midday trading on Wednesday, hitting $7.52. The stock had a trading volume of 67,045 shares, compared to its average volume of 2,563,045. ARMOUR Residential REIT has a 1 year low of $7.14 and a 1 year high of $12.29. The firm has a market cap of $775.84 million, a PE ratio of -4.63 and a beta of 0.99. The stock’s 50 day moving average is $7.86 and its 200 day moving average is $8.91.

ARMOUR Residential REIT (NYSE:ARRGet Rating) last announced its earnings results on Wednesday, April 27th. The real estate investment trust reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.03. ARMOUR Residential REIT had a negative net margin of 128.09% and a positive return on equity of 8.60%. As a group, sell-side analysts predict that ARMOUR Residential REIT will post 1.08 earnings per share for the current year.

A number of research analysts have recently commented on ARR shares. Barclays cut their price target on shares of ARMOUR Residential REIT from $9.00 to $8.00 in a report on Wednesday, April 27th. Credit Suisse Group cut their price target on shares of ARMOUR Residential REIT from $10.00 to $9.00 and set a “neutral” rating on the stock in a report on Thursday, March 10th. B. Riley cut their price target on shares of ARMOUR Residential REIT from $11.00 to $9.50 and set a “neutral” rating on the stock in a report on Tuesday, February 22nd. StockNews.com started coverage on shares of ARMOUR Residential REIT in a report on Thursday, March 31st. They issued a “sell” rating on the stock. Finally, Zacks Investment Research upgraded shares of ARMOUR Residential REIT from a “hold” rating to a “strong-buy” rating and set a $8.50 price target on the stock in a report on Tuesday, May 3rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $8.75.

Institutional investors have recently modified their holdings of the business. Royal Bank of Canada boosted its holdings in shares of ARMOUR Residential REIT by 54.4% in the 2nd quarter. Royal Bank of Canada now owns 15,804 shares of the real estate investment trust’s stock valued at $180,000 after buying an additional 5,568 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in shares of ARMOUR Residential REIT by 12.8% in the 2nd quarter. Wells Fargo & Company MN now owns 71,260 shares of the real estate investment trust’s stock valued at $813,000 after buying an additional 8,092 shares in the last quarter. Morgan Stanley boosted its holdings in shares of ARMOUR Residential REIT by 404.3% in the 2nd quarter. Morgan Stanley now owns 1,131,926 shares of the real estate investment trust’s stock valued at $12,926,000 after buying an additional 907,467 shares in the last quarter. UBS Group AG boosted its holdings in shares of ARMOUR Residential REIT by 33.5% in the 3rd quarter. UBS Group AG now owns 173,680 shares of the real estate investment trust’s stock valued at $1,872,000 after buying an additional 43,569 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of ARMOUR Residential REIT by 19.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 762,414 shares of the real estate investment trust’s stock valued at $8,218,000 after buying an additional 121,789 shares in the last quarter. Institutional investors own 51.92% of the company’s stock.

About ARMOUR Residential REIT (Get Rating)

ARMOUR Residential REIT, Inc invests in residential mortgage-backed securities (MBS) in the United States. The company's 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, as well as unsecured notes and bonds issued by the GSE and the United States treasuries, as well as money market instruments.

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Dividend History for ARMOUR Residential REIT (NYSE:ARR)

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