ARMOUR Residential REIT, Inc. (NYSE:ARR) to Issue $0.24 Monthly Dividend
ARMOUR Residential REIT, Inc. (NYSE:ARR – Get Free Report) declared a monthly dividend on Thursday, December 14th, NASDAQ reports. Stockholders of record on Tuesday, January 16th will be given a dividend of 0.24 per share by the real estate investment trust on Tuesday, January 30th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 14.93%. The ex-dividend date is Friday, January 12th.
ARMOUR Residential REIT has decreased its dividend by an average of 17.8% per year over the last three years. ARMOUR Residential REIT has a dividend payout ratio of 112.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect ARMOUR Residential REIT to earn $3.84 per share next year, which means the company may not be able to cover its $4.80 annual dividend with an expected future payout ratio of 125.0%.
ARMOUR Residential REIT Stock Down 2.8 %
ARR traded down $0.55 on Friday, reaching $19.29. 3,570,002 shares of the company’s stock were exchanged, compared to its average volume of 1,443,720. ARMOUR Residential REIT has a twelve month low of $13.31 and a twelve month high of $33.38. The company’s 50 day moving average is $17.15 and its 200-day moving average is $22.10.
Analyst Upgrades and Downgrades
A number of analysts recently weighed in on ARR shares. B. Riley upped their price target on shares of ARMOUR Residential REIT from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, November 16th. StockNews.com upgraded ARMOUR Residential REIT to a “sell” rating in a report on Thursday, December 7th. Finally, UBS Group initiated coverage on ARMOUR Residential REIT in a report on Wednesday, December 6th. They issued a “neutral” rating and a $18.50 price target for the company.
Institutional Investors Weigh In On ARMOUR Residential REIT
Several institutional investors and hedge funds have recently bought and sold shares of the business. Deutsche Bank AG increased its position in ARMOUR Residential REIT by 36.5% in the third quarter. Deutsche Bank AG now owns 100,325 shares of the real estate investment trust’s stock worth $426,000 after buying an additional 26,836 shares during the period. Graham Capital Management L.P. grew its position in shares of ARMOUR Residential REIT by 96.6% during the third quarter. Graham Capital Management L.P. now owns 30,068 shares of the real estate investment trust’s stock worth $128,000 after acquiring an additional 14,773 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of ARMOUR Residential REIT by 43.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 104,747 shares of the real estate investment trust’s stock worth $445,000 after acquiring an additional 31,901 shares during the period. Legal & General Group Plc boosted its stake in ARMOUR Residential REIT by 8.1% during the 3rd quarter. Legal & General Group Plc now owns 590,337 shares of the real estate investment trust’s stock valued at $2,509,000 after purchasing an additional 44,005 shares during the period. Finally, Ameriprise Financial Inc. grew its position in ARMOUR Residential REIT by 0.8% in the 3rd quarter. Ameriprise Financial Inc. now owns 717,918 shares of the real estate investment trust’s stock worth $3,051,000 after purchasing an additional 5,720 shares during the last quarter. Institutional investors and hedge funds own 42.72% of the company’s stock.
ARMOUR Residential REIT Company Profile (Get Free Report)
ARMOUR Residential REIT, Inc invests in residential mortgage-backed securities (MBS) in the United States. The company’s 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, as well as unsecured notes and bonds issued by the GSE and the United States treasuries, as well as money market instruments.
Further Reading
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Original: MarketBeat News Feed: ARMOUR Residential REIT, Inc. (NYSE:ARR) to Issue $0.24 Monthly Dividend