ARMOUR Residential REIT, Inc. (NYSE:ARR) to Issue Monthly Dividend of $0.24

ARMOUR Residential REIT, Inc. (NYSE:ARR) announced a monthly dividend on Tuesday, October 22nd, NASDAQ reports. Shareholders of record on Friday, November 15th will be given a dividend of 0.24 per share by the real estate investment trust on Wednesday, November 27th. This represents a $2.88 dividend on an annualized basis and a yield of 14.71%. The ex-dividend date of this dividend is Friday, November 15th.

ARMOUR Residential REIT has a payout ratio of 70.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect ARMOUR Residential REIT to earn $3.96 per share next year, which means the company should continue to be able to cover its $2.88 annual dividend with an expected future payout ratio of 72.7%.

ARMOUR Residential REIT Price Performance

Shares of NYSE:ARR traded down $0.11 during midday trading on Wednesday, reaching $19.58. 1,556,227 shares of the company’s stock were exchanged, compared to its average volume of 1,122,490. The stock has a market cap of $954.56 million, a price-to-earnings ratio of -27.37 and a beta of 1.50. ARMOUR Residential REIT has a fifty-two week low of $13.31 and a fifty-two week high of $21.93. The firm’s 50 day simple moving average is $20.21 and its two-hundred day simple moving average is $19.73.

ARMOUR Residential REIT (NYSE:ARR) last announced its quarterly earnings results on Wednesday, July 24th. The real estate investment trust reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.09. ARMOUR Residential REIT had a negative net margin of 19.85% and a positive return on equity of 16.64%. The business had revenue of $129.93 million during the quarter, compared to analysts’ expectations of $28.47 million. Equities research analysts predict that ARMOUR Residential REIT will post 3.81 earnings per share for the current fiscal year.

Insider Activity

In related news, Chairman Daniel C. Staton acquired 10,000 shares of the firm’s stock in a transaction dated Thursday, October 3rd. The stock was acquired at an average price of $19.86 per share, for a total transaction of $198,600.00. Following the purchase, the chairman now owns 24,040 shares of the company’s stock, valued at $477,434.40. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. StockNews.com lowered ARMOUR Residential REIT from a “hold” rating to a “sell” rating in a research report on Wednesday, August 21st. JMP Securities restated a “market perform” rating on shares of ARMOUR Residential REIT in a report on Wednesday, August 28th. Finally, B. Riley increased their price target on shares of ARMOUR Residential REIT from $20.00 to $21.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. One analyst has rated the stock with a sell rating and four have given a hold rating to the stock. According to MarketBeat, ARMOUR Residential REIT currently has a consensus rating of “Hold” and a consensus price target of $19.83.

ARMOUR Residential REIT Company Profile

ARMOUR Residential REIT, Inc invests in residential mortgage-backed securities (MBS) in the United States. Its 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; and unsecured notes and bonds issued by the GSE and the United States treasuries, as well as money market instruments.