Zacks Investment Research Downgrades ARMOUR Residential REIT (NYSE:ARR) to Hold

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.

ARMOUR Residential REIT (NYSE:ARR) last issued its quarterly earnings results on Wednesday, October 25th. The real estate investment trust reported $0.69 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.03. The firm had revenue of $39.64 million during the quarter, compared to analysts’ expectations of $37.49 million. ARMOUR Residential REIT had a return on equity of 9.39% and a net margin of 76.46%. During the same period in the previous year, the business earned $0.68 earnings per share. analysts forecast that ARMOUR Residential REIT will post 2.69 EPS for the current fiscal year.

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.

COPYRIGHT VIOLATION WARNING: This news story was first posted by StockNewsTimes and is the property of of StockNewsTimes. If you are accessing this news story on another publication, it was illegally copied and republished in violation of United States & international copyright & trademark legislation. The legal version of this news story can be viewed at https://stocknewstimes.com/2018/01/18/armour-residential-reit-arr-stock-rating-lowered-by-zacks-investment-research.html.

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).

Get a free copy of the Zacks research report on ARMOUR Residential REIT (ARR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for ARMOUR Residential REIT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ARMOUR Residential REIT and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply