ARMOUR Residential REIT, Inc. (NYSE:ARR) declared a monthly dividend on Tuesday, September 24th, Zacks reports. Stockholders of record on Tuesday, October 15th will be paid a dividend of 0.17 per share by the real estate investment trust on Monday, October 28th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 12.23%. The ex-dividend date of this dividend is Friday, October 11th.
ARMOUR Residential REIT has decreased its dividend payment by an average of 16.3% per year over the last three years. ARMOUR Residential REIT has a payout ratio of 83.3% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Analysts expect ARMOUR Residential REIT to earn $2.15 per share next year, which means the company should continue to be able to cover its $2.04 annual dividend with an expected future payout ratio of 94.9%.
Shares of NYSE:ARR opened at $16.68 on Wednesday. The stock’s 50-day moving average price is $16.72 and its 200-day moving average price is $18.14. ARMOUR Residential REIT has a 12-month low of $16.00 and a 12-month high of $22.73. The stock has a market capitalization of $990.03 million, a P/E ratio of 6.67 and a beta of 0.67.
ARMOUR Residential REIT (NYSE:ARR) last announced its quarterly earnings data on Wednesday, July 24th. The real estate investment trust reported $0.63 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.05. ARMOUR Residential REIT had a positive return on equity of 10.62% and a negative net margin of 124.06%. The firm had revenue of $40.86 million for the quarter. As a group, research analysts expect that ARMOUR Residential REIT will post 2.3 EPS for the current fiscal year.
A number of brokerages have recently issued reports on ARR. ValuEngine raised ARMOUR Residential REIT from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Barclays set a $18.00 target price on ARMOUR Residential REIT and gave the stock a “sell” rating in a research note on Friday, July 26th. Finally, Zacks Investment Research raised ARMOUR Residential REIT from a “sell” rating to a “hold” rating in a research note on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating and three have given a hold rating to the stock. ARMOUR Residential REIT has an average rating of “Hold” and an average price target of $20.33.
About ARMOUR Residential REIT
ARMOUR Residential REIT, Inc invests in residential mortgage backed securities in the United States. The company is managed by ARMOUR Capital Management LP. 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, as well as unsecured notes and bonds issued by the GSE and the United States treasuries; and money market instruments.
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