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

ARMOUR Residential REIT, Inc. (NYSE:ARRGet Rating) declared a monthly dividend on Monday, May 23rd, Zacks reports. Shareholders 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 15.94%. The ex-dividend date is Tuesday, June 14th.

ARMOUR Residential REIT has decreased its dividend by an average of 19.3% annually over the last three years. ARMOUR Residential REIT has a payout ratio of 115.4% indicating that 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 ARMOUR Residential REIT stock traded up $0.05 on Wednesday, hitting $7.53. 50,712 shares of the company’s stock traded hands, compared to its average volume of 2,563,045. The stock has a market cap of $776.87 million, a P/E ratio of -4.63 and a beta of 0.99. The firm’s 50-day moving average is $7.86 and its 200 day moving average is $8.91. ARMOUR Residential REIT has a 52-week low of $7.14 and a 52-week high of $12.29.

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

Hedge funds and other institutional investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. raised its stake in shares of ARMOUR Residential REIT by 66.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,766 shares of the real estate investment trust’s stock worth $41,000 after purchasing an additional 1,901 shares in the last quarter. First Trust Advisors LP purchased a new stake in shares of ARMOUR Residential REIT during the 1st quarter worth about $97,000. Guggenheim Capital LLC purchased a new stake in shares of ARMOUR Residential REIT during the 4th quarter worth about $110,000. LPL Financial LLC bought a new position in shares of ARMOUR Residential REIT in the 4th quarter valued at approximately $116,000. Finally, Bridgefront Capital LLC bought a new position in shares of ARMOUR Residential REIT in the 1st quarter valued at approximately $124,000. Hedge funds and other institutional investors own 51.92% of the company’s stock.

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

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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