ARMOUR Residential REIT, Inc. (ARR) Posts Quarterly Earnings Results, Beats Expectations By $0.07 EPS
ARMOUR Residential REIT, Inc. (NYSE:ARR) announced its earnings results on Wednesday. The real estate investment trust reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.07, Bloomberg Earnings reports. The firm had revenue of $39.06 million for the quarter, compared to analysts’ expectations of $34.53 million. ARMOUR Residential REIT had a net margin of 108.49% and a return on equity of 9.69%. During the same period in the prior year, the company earned $0.63 EPS.
ARMOUR Residential REIT (NYSE ARR) traded up 1.08% during mid-day trading on Thursday, reaching $25.21. 340,295 shares of the company were exchanged. The company has a 50 day moving average of $25.89 and a 200-day moving average of $23.81. ARMOUR Residential REIT has a 1-year low of $20.29 and a 1-year high of $27.60. The company has a market capitalization of $926.01 million, a price-to-earnings ratio of 3.41 and a beta of 0.78.
The company also recently disclosed a monthly dividend, which will be paid on Monday, August 28th. Investors of record on Tuesday, August 15th will be given a $0.19 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 9.14%. The ex-dividend date of this dividend is Friday, August 11th. ARMOUR Residential REIT’s dividend payout ratio (DPR) is currently 30.94%.
In other ARMOUR Residential REIT news, COO Mark Gruber bought 2,000 shares of the business’s stock in a transaction that occurred on Thursday, May 4th. The shares were purchased at an average cost of $25.05 per share, with a total value of $50,100.00. Following the purchase, the chief operating officer now directly owns 13,277 shares in the company, valued at $332,588.85. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.20% of the stock is owned by corporate insiders.
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ARR has been the topic of several recent research reports. TheStreet upgraded shares of ARMOUR Residential REIT from a “d” rating to a “c” rating in a research report on Wednesday, May 24th. ValuEngine upgraded shares of ARMOUR Residential REIT from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 2nd. Finally, BidaskClub cut shares of ARMOUR Residential REIT from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 30th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $21.63.
About ARMOUR Residential REIT
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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