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

ARMOUR Residential REIT, Inc. (NYSE:ARR) announced a monthly dividend on Tuesday, October 22nd, NASDAQ reports. Investors 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 dividend yield of 14.71%. The ex-dividend date is Friday, November 15th.

ARMOUR Residential REIT has a payout ratio of 70.4% indicating that its dividend is sufficiently covered by earnings. Equities 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

NYSE:ARR traded down $0.11 during midday trading on Wednesday, hitting $19.58. The company’s stock had a trading volume of 1,556,227 shares, compared to its average volume of 1,122,490. 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 moving average is $20.21 and its 200-day moving average is $19.73. The firm has a market cap of $954.56 million, a P/E ratio of -27.37 and a beta of 1.50.

ARMOUR Residential REIT (NYSE:ARR) last issued its earnings results on Wednesday, July 24th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $129.93 million during the quarter, compared to analysts’ expectations of $28.47 million. As a group, analysts forecast that ARMOUR Residential REIT will post 3.81 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. JMP Securities reissued a “market perform” rating on shares of ARMOUR Residential REIT in a report on Wednesday, August 28th. StockNews.com downgraded ARMOUR Residential REIT from a “hold” rating to a “sell” rating in a report on Wednesday, August 21st. Finally, B. Riley raised their price objective on shares of ARMOUR Residential REIT from $20.00 to $21.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $19.83.

Insider Activity at ARMOUR Residential REIT

In related news, Chairman Daniel C. Staton purchased 10,000 shares of the business’s stock in a transaction that occurred on Thursday, October 3rd. The stock was bought at an average price of $19.86 per share, with a total value of $198,600.00. Following the acquisition, the chairman now owns 24,040 shares in the company, valued at $477,434.40. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.35% of the stock is owned by company insiders.

About ARMOUR Residential REIT

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.