ARMOUR Residential REIT, Inc. (NYSE:ARR) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $12.44 and last traded at $12.44, with a volume of 32084 shares. The stock had previously closed at $12.20.
Several research firms have issued reports on ARR. Zacks Investment Research lowered shares of ARMOUR Residential REIT from a “hold” rating to a “sell” rating in a report on Friday, February 19th. LADENBURG THALM/SH SH downgraded shares of ARMOUR Residential REIT from a “buy” rating to a “neutral” rating in a research report on Thursday, February 18th. Two equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company. ARMOUR Residential REIT has a consensus rating of “Hold” and an average target price of $9.56.
The stock has a market cap of $836.49 million, a PE ratio of -3.50 and a beta of 1.07. The stock’s 50-day moving average is $12.11 and its two-hundred day moving average is $10.96.
The firm also recently announced a monthly dividend, which will be paid on Thursday, April 29th. Shareholders of record on Thursday, April 15th will be issued a dividend of $0.10 per share. The ex-dividend date is Wednesday, April 14th. This represents a $1.20 dividend on an annualized basis and a yield of 9.65%. ARMOUR Residential REIT’s dividend payout ratio (DPR) is presently 52.86%.
In other ARMOUR Residential REIT news, CFO James R. Mountain sold 7,500 shares of the firm’s stock in a transaction on Monday, April 5th. The shares were sold at an average price of $12.29, for a total transaction of $92,175.00. Following the transaction, the chief financial officer now directly owns 75,470 shares of the company’s stock, valued at approximately $927,526.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert C. Hain bought 8,400 shares of the stock in a transaction dated Friday, March 19th. The stock was purchased at an average cost of $12.21 per share, for a total transaction of $102,564.00. Following the acquisition, the director now owns 17,894 shares of the company’s stock, valued at $218,485.74. The disclosure for this purchase can be found here. 1.30% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. First Trust Advisors LP purchased a new stake in ARMOUR Residential REIT in the fourth quarter valued at approximately $1,726,000. Credit Suisse AG raised its holdings in ARMOUR Residential REIT by 28.9% in the fourth quarter. Credit Suisse AG now owns 444,835 shares of the real estate investment trust’s stock valued at $4,801,000 after acquiring an additional 99,650 shares in the last quarter. Van ECK Associates Corp raised its holdings in ARMOUR Residential REIT by 18.8% in the third quarter. Van ECK Associates Corp now owns 333,734 shares of the real estate investment trust’s stock valued at $3,174,000 after acquiring an additional 52,768 shares in the last quarter. Citigroup Inc. raised its holdings in ARMOUR Residential REIT by 215.7% in the fourth quarter. Citigroup Inc. now owns 17,391 shares of the real estate investment trust’s stock valued at $188,000 after acquiring an additional 11,883 shares in the last quarter. Finally, IndexIQ Advisors LLC raised its holdings in shares of ARMOUR Residential REIT by 4.9% during the fourth quarter. IndexIQ Advisors LLC now owns 46,873 shares of the real estate investment trust’s stock worth $506,000 after purchasing an additional 2,178 shares during the period. Institutional investors own 54.33% of the company’s stock.
About ARMOUR Residential REIT (NYSE:ARR)
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; and money market instruments.
Featured Article: Commodities