Arlington Asset Investment Corp (AI) Reaches New 52-Week Low on Disappointing Earnings

Shares of Arlington Asset Investment Corp (NYSE:AI) hit a new 52-week low during trading on Tuesday after the company announced weaker than expected quarterly earnings. The company 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 EPS for the quarter, missing the Zacks’ consensus estimate of $0.60 by $0.02. Arlington Asset Investment Corp had a negative net margin of 33.84% and a negative return on equity of 10.44%. The firm had revenue of $18.93 million for the quarter, compared to analysts’ expectations of $20.28 million.

The company 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. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $2.20 dividend on an annualized basis and a yield of 16.95%. Arlington Asset Investment Corp’s payout ratio is -146.67%.

A number of research firms recently commented on AI. BidaskClub raised shares of Arlington Asset Investment Corp from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 5th. Singular Research began coverage on shares of Arlington Asset Investment Corp in a research report on Tuesday, August 1st. They set a “buy” rating and a $14.25 target price for the company. Zacks Investment Research raised shares of Arlington Asset Investment Corp from a “strong sell” rating to a “hold” rating in a research report on Monday, July 31st. ValuEngine lowered shares of Arlington Asset Investment Corp from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Finally, Maxim Group restated 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. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $15.15.

Several hedge funds have recently added to or reduced their stakes in the company. State Street Corp raised its stake in Arlington Asset Investment Corp by 5.9% in the fourth quarter. State Street Corp now owns 384,022 shares of the financial services provider’s stock worth $5,691,000 after buying an additional 21,334 shares during the last quarter. Norges Bank acquired a new stake in Arlington Asset Investment Corp during the fourth quarter worth $888,000. Teachers Advisors LLC raised its stake in Arlington Asset Investment Corp by 5.2% in the fourth quarter. Teachers Advisors LLC now owns 34,205 shares of the financial services provider’s stock worth $507,000 after buying an additional 1,690 shares during the last quarter. Creative Planning raised its stake in Arlington Asset Investment Corp by 29.3% in the first quarter. Creative Planning now owns 25,954 shares of the financial services provider’s stock worth $367,000 after buying an additional 5,888 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Arlington Asset Investment Corp by 4.6% in the first quarter. Bank of New York Mellon Corp now owns 277,135 shares of the financial services provider’s stock worth $3,916,000 after buying an additional 12,129 shares during the last quarter. Hedge funds and other institutional investors own 42.70% of the company’s stock.

The stock has a 50 day moving average price of $13.54 and a 200 day moving average price of $14.24. The stock’s market cap is $336.83 million.

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Arlington Asset Investment Corp Company Profile

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).

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