Zacks Investment Research downgraded shares of ARMOUR Residential REIT (NYSE:ARR) from a buy rating to a hold rating in a research report report published on Monday, January 1st.
According to Zacks, “ARMOUR Residential REIT, Inc. invests primarily in residential mortgage-backed securities issued or guaranteed by a United States Government-chartered entity. “
Shares of ARMOUR Residential REIT (ARR) opened at $24.87 on Monday. The company has a market capitalization of $1,040.00, a P/E ratio of 4.92 and a beta of 0.74. ARMOUR Residential REIT has a 12-month low of $20.81 and a 12-month high of $27.60.
The firm also recently declared a monthly dividend, which will be paid on Monday, January 29th. Stockholders of record on Tuesday, January 16th will be paid a $0.19 dividend. This represents a $2.28 annualized dividend and a dividend yield of 9.17%. The ex-dividend date is Friday, January 12th. ARMOUR Residential REIT’s dividend payout ratio (DPR) is presently 45.06%.
In other ARMOUR Residential REIT news, COO Mark Gruber purchased 4,000 shares of the firm’s stock in a transaction dated Monday, October 30th. The shares were acquired at an average price of $25.38 per share, with a total value of $101,520.00. Following the purchase, the chief operating officer now directly owns 19,958 shares in the company, valued at approximately $506,534.04. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Schwab Charles Investment Management Inc. increased its holdings in ARMOUR Residential REIT by 9.9% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 212,272 shares of the real estate investment trust’s stock worth $5,460,000 after purchasing an additional 19,167 shares during the period. Creative Planning increased its holdings in shares of ARMOUR Residential REIT by 162.2% in the 4th quarter. Creative Planning now owns 192,388 shares of the real estate investment trust’s stock valued at $4,948,000 after acquiring an additional 119,015 shares during the last quarter. Piedmont Investment Advisors LLC purchased a new position in shares of ARMOUR Residential REIT in the 3rd quarter valued at about $242,000. California Public Employees Retirement System increased its holdings in shares of ARMOUR Residential REIT by 2.4% in the 3rd quarter. California Public Employees Retirement System now owns 140,252 shares of the real estate investment trust’s stock valued at $3,773,000 after acquiring an additional 3,277 shares during the last quarter. Finally, Point72 Asset Management L.P. increased its holdings in shares of ARMOUR Residential REIT by 61.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 27,791 shares of the real estate investment trust’s stock valued at $748,000 after acquiring an additional 10,614 shares during the last quarter. Institutional investors own 58.19% of the company’s stock.
ARMOUR Residential REIT Company Profile
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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