ARMOUR Residential REIT, Inc. (ARR) Sees Significant Drop in Short Interest
ARMOUR Residential REIT, Inc. (NYSE:ARR) saw a large decrease in short interest during the month of July. As of July 31st, there was short interest totalling 1,255,417 shares, a decrease of 47.0% from the July 14th total of 2,367,235 shares. Based on an average trading volume of 452,684 shares, the days-to-cover ratio is currently 2.8 days. Currently, 3.1% of the company’s shares are sold short.
Several equities analysts have commented on the company. ValuEngine raised ARMOUR Residential REIT from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 2nd. BidaskClub raised ARMOUR Residential REIT from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 10th. Finally, TheStreet raised ARMOUR Residential REIT from a “d” rating to a “c” rating in a research report on Wednesday, May 24th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $23.67.
Shares of ARMOUR Residential REIT (ARR) opened at 26.15 on Wednesday. The stock has a market capitalization of $1.08 billion, a PE ratio of 3.44 and a beta of 0.78. ARMOUR Residential REIT has a one year low of $20.29 and a one year high of $27.60. The firm has a 50 day moving average price of $25.40 and a 200 day moving average price of $24.20.
ARMOUR Residential REIT (NYSE:ARR) last posted its earnings results on Wednesday, July 26th. The real estate investment trust reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.07. ARMOUR Residential REIT had a return on equity of 9.26% and a net margin of 114.11%. The company had revenue of $39.06 million during the quarter, compared to analysts’ expectations of $34.53 million. During the same quarter last year, the firm earned $0.63 earnings per share. Analysts predict that ARMOUR Residential REIT will post $2.68 earnings per share for the current fiscal year.
The company also recently disclosed a monthly dividend, which will be paid on Monday, August 28th. Stockholders of record on Tuesday, August 15th will be paid a $0.19 dividend. The ex-dividend date is Friday, August 11th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 8.72%. ARMOUR Residential REIT’s payout ratio is presently 30.00%.
In other ARMOUR Residential REIT news, COO Mark Gruber acquired 2,000 shares of the business’s stock in a transaction on Monday, July 31st. The shares were bought at an average price of $25.33 per share, with a total value of $50,660.00. Following the transaction, the chief operating officer now directly owns 15,619 shares of the company’s stock, valued at approximately $395,629.27. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.50% of the company’s stock.
Several large investors have recently modified their holdings of the stock. BlackRock Inc. boosted its stake in shares of ARMOUR Residential REIT by 5.8% in the second quarter. BlackRock Inc. now owns 3,626,651 shares of the real estate investment trust’s stock worth $90,666,000 after buying an additional 198,425 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of ARMOUR Residential REIT by 4.7% in the second quarter. Vanguard Group Inc. now owns 3,220,482 shares of the real estate investment trust’s stock worth $80,512,000 after buying an additional 143,749 shares during the last quarter. UBS Group AG boosted its stake in shares of ARMOUR Residential REIT by 27.5% in the first quarter. UBS Group AG now owns 872,343 shares of the real estate investment trust’s stock worth $19,811,000 after buying an additional 188,245 shares during the last quarter. Global X Management Co. LLC boosted its stake in shares of ARMOUR Residential REIT by 6.1% in the second quarter. Global X Management Co. LLC now owns 842,638 shares of the real estate investment trust’s stock worth $21,066,000 after buying an additional 48,510 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of ARMOUR Residential REIT by 4.5% in the second quarter. State Street Corp now owns 819,433 shares of the real estate investment trust’s stock worth $20,483,000 after buying an additional 35,592 shares during the last quarter. 42.83% of the stock is owned by institutional investors and hedge funds.
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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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