Arlington Asset Investment Corp (NYSE:AI) shares hit a new 52-week low during trading on Tuesday after the company announced weaker than expected quarterly earnings. The stock traded as low as $12.65 and last traded at $12.65, with a volume of 1,099,796 shares trading hands. The stock had previously closed at $13.58.
The financial services provider reported $0.58 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.60 by $0.02. Arlington Asset Investment Corp had a negative return on equity of 10.14% and a negative net margin of 33.84%. The company had revenue of $18.93 million for the quarter, compared to the consensus estimate of $20.28 million.
The business also recently announced a quarterly dividend, which was paid on Monday, July 31st. Investors of record on Friday, June 30th were given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 16.81%. The ex-dividend date was Wednesday, June 28th. Arlington Asset Investment Corp’s dividend payout ratio (DPR) is currently -146.67%.
A number of research firms have weighed in on AI. Maxim Group reiterated a “buy” rating and set a $14.00 price target (down previously from $16.00) on shares of Arlington Asset Investment Corp in a research note on Monday, July 24th. Zacks Investment Research upgraded shares of Arlington Asset Investment Corp from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a research note on Monday, May 1st. Singular Research began coverage on shares of Arlington Asset Investment Corp in a research note on Tuesday. They set a “buy” rating and a $14.25 price target on the stock. Finally, ValuEngine downgraded shares of Arlington Asset Investment Corp from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $15.15.
Several large investors have recently modified their holdings of AI. BlueCrest Capital Management Ltd purchased a new stake in shares of Arlington Asset Investment Corp during the first quarter valued at approximately $147,000. Karp Capital Management Corp acquired a new position in Arlington Asset Investment Corp during the first quarter worth about $149,000. SG Americas Securities LLC acquired a new position in Arlington Asset Investment Corp during the first quarter worth about $179,000. American International Group Inc. boosted its position in Arlington Asset Investment Corp by 7.2% in the first quarter. American International Group Inc. now owns 13,906 shares of the financial services provider’s stock worth $196,000 after buying an additional 937 shares in the last quarter. Finally, KCG Holdings Inc. acquired a new position in Arlington Asset Investment Corp during the first quarter worth about $196,000. Institutional investors own 42.71% of the company’s stock.
The stock’s 50-day moving average price is $13.91 and its 200-day moving average price is $14.34. The firm’s market capitalization is $318.34 million.
TRADEMARK VIOLATION WARNING: This news story was originally posted by StockNewsTimes and is the property of of StockNewsTimes. If you are viewing this news story on another website, it was copied illegally and republished in violation of US & international trademark and copyright laws. The correct version of this news story can be accessed at https://stocknewstimes.com/2017/08/04/arlington-asset-investment-corp-ai-sets-new-52-week-low-at-12-65-updated.html.
About Arlington Asset Investment Corp
Arlington Asset Investment Corp. is an investment company. The Company focuses on acquiring and holding a levered portfolio of residential mortgage-backed securities (MBS), consisting of agency MBS and private-label MBS. Agency MBS include residential mortgage pass-through certificates for which the principal and interest payments are guaranteed by a United States Government agency or government-sponsored enterprise (GSE), such as the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac).
Receive News & Ratings for Arlington Asset Investment Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arlington Asset Investment Corp and related companies with MarketBeat.com's FREE daily email newsletter.
