ARMOUR Residential REIT, Inc. (ARR) Plans Monthly Dividend of $0.19
ARMOUR Residential REIT, Inc. (NYSE:ARR) declared a monthly dividend on Tuesday, December 26th, Zacks reports. Investors of record on Tuesday, January 16th will be given a dividend of 0.19 per share by the real estate investment trust on Monday, January 29th. This represents a $2.28 annualized dividend and a dividend yield of 9.05%. The ex-dividend date is Friday, January 12th.
ARMOUR Residential REIT has decreased its dividend payment by an average of 22.0% per year over the last three years and has increased its dividend annually for the last 3 consecutive years. ARMOUR Residential REIT has a payout ratio of 84.8% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect ARMOUR Residential REIT to earn $2.39 per share next year, which means the company should continue to be able to cover its $2.28 annual dividend with an expected future payout ratio of 95.4%.
ARMOUR Residential REIT (NYSE ARR) opened at $25.20 on Friday. The company has a market capitalization of $1,055.10, a P/E ratio of 9.06 and a beta of 0.72. ARMOUR Residential REIT has a 52-week low of $20.81 and a 52-week high of $27.60.
In related news, COO Mark Gruber bought 4,000 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The stock was acquired at an average price of $25.38 per share, for a total transaction of $101,520.00. Following the transaction, the chief operating officer now directly owns 19,958 shares of the company’s stock, valued at $506,534.04. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.20% of the stock is owned by company insiders.
Separately, Zacks Investment Research upgraded ARMOUR Residential REIT from a “hold” rating to a “buy” rating and set a $28.00 target price for the company in a research report on Tuesday, October 31st.
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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