Armour Residential REIT Inc. (ARR) Rating Increased to Hold at Zacks Investment Research
Armour Residential REIT Inc. (NYSE:ARR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday.
According to Zacks, “ARMOUR Residential REIT, Inc. invests primarily in residential mortgage-backed securities issued or guaranteed by a United States Government-chartered entity. “
ARR has been the subject of several other research reports. Credit Suisse Group AG reiterated a “sell” rating and issued a $22.00 price objective on shares of Armour Residential REIT in a research note on Friday, September 9th. Barclays PLC lifted their price target on shares of Armour Residential REIT from $18.00 to $21.00 and gave the company an “underweight” rating in a research report on Thursday, August 4th. National Securities reissued a “sell” rating and issued a $16.00 price target on shares of Armour Residential REIT in a research report on Monday, August 8th. Finally, Deutsche Bank AG lifted their price target on shares of Armour Residential REIT from $21.00 to $21.80 and gave the company a “hold” rating in a research report on Thursday, August 4th. Four research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. Armour Residential REIT presently has an average rating of “Hold” and a consensus target price of $21.35.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/11/armour-residential-reit-inc-arr-rating-increased-to-hold-at-zacks-investment-research.html
Armour Residential REIT (NYSE:ARR) traded down 0.14% during mid-day trading on Tuesday, reaching $22.02. 327,297 shares of the company’s stock traded hands. The stock’s market cap is $808.20 million. Armour Residential REIT has a 12 month low of $16.61 and a 12 month high of $23.23. The company has a 50 day moving average price of $22.27 and a 200-day moving average price of $21.09.
Armour Residential REIT (NYSE:ARR) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.71 by $0.08. Armour Residential REIT had a negative net margin of 113.98% and a positive return on equity of 13.00%. During the same quarter in the prior year, the business posted $0.12 earnings per share. On average, analysts anticipate that Armour Residential REIT will post $3.50 EPS for the current year.
The company also recently disclosed a monthly dividend, which will be paid on Thursday, October 27th. Shareholders of record on Friday, October 14th will be issued a dividend of $0.22 per share. This represents a $2.64 dividend on an annualized basis and a yield of 11.99%. The ex-dividend date is Wednesday, October 12th. Armour Residential REIT’s dividend payout ratio is -26.80%.
In other news, CEO Jeffrey J. Zimmer acquired 10,000 shares of the business’s stock in a transaction on Monday, August 22nd. The shares were purchased at an average cost of $22.11 per share, with a total value of $221,100.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 1.20% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the company. Teacher Retirement System of Texas increased its position in Armour Residential REIT by 5.6% in the second quarter. Teacher Retirement System of Texas now owns 5,158 shares of the company’s stock worth $103,000 after buying an additional 273 shares in the last quarter. IFP Advisors Inc boosted its stake in Armour Residential REIT by 1.1% in the second quarter. IFP Advisors Inc now owns 7,357 shares of the company’s stock worth $147,000 after buying an additional 81 shares during the last quarter. Murphy Capital Management Inc. boosted its stake in Armour Residential REIT by 3.6% in the second quarter. Murphy Capital Management Inc. now owns 12,429 shares of the company’s stock worth $248,000 after buying an additional 427 shares during the last quarter. Nomura Holdings Inc. acquired a new stake in Armour Residential REIT during the second quarter worth approximately $254,000. Finally, BlackRock Inc. boosted its stake in Armour Residential REIT by 216.7% in the second quarter. BlackRock Inc. now owns 13,156 shares of the company’s stock worth $263,000 after buying an additional 9,002 shares during the last quarter. 40.48% of the stock is currently owned by hedge funds and other institutional investors.
Armour Residential REIT Company Profile
ARMOUR Residential REIT, Inc (ARMOUR) is an externally managed real estate investment trust (REIT). The Company invests in residential mortgage backed securities issued or guaranteed by the United States Government-sponsored entity (GSE), such as the Federal National Mortgage Association (Fannie Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac) or guaranteed by the Government National Mortgage Administration (Ginnie Mae) (collectively, Agency Securities).
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Armour Residential REIT Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Armour Residential REIT Inc. and related companies with MarketBeat.com's FREE daily email newsletter.