ARMOUR Residential REIT, Inc. (NYSE:ARR) Receives Average Recommendation of “Hold” from Brokerages

ARMOUR Residential REIT, Inc. (NYSE:ARR) has earned a consensus recommendation of “Hold” from the seven brokerages that are presently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $11.88.

A number of equities research analysts have issued reports on ARR shares. Credit Suisse Group raised shares of ARMOUR Residential REIT from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $9.00 to $9.50 in a report on Tuesday, May 26th. Barclays reissued a “sell” rating and issued a $8.00 price target (down previously from $19.00) on shares of ARMOUR Residential REIT in a report on Wednesday, April 29th. Nomura reissued a “hold” rating and issued a $12.00 price target on shares of ARMOUR Residential REIT in a report on Thursday, April 30th. ValuEngine lowered shares of ARMOUR Residential REIT from a “sell” rating to a “strong sell” rating in a research note on Thursday, April 2nd. Finally, Zacks Investment Research lowered shares of ARMOUR Residential REIT from a “buy” rating to a “sell” rating in a research note on Friday, May 8th.

In other ARMOUR Residential REIT news, CEO Scott Ulm purchased 10,000 shares of the stock in a transaction that occurred on Monday, April 6th. The stock was bought at an average cost of $6.90 per share, with a total value of $69,000.00. Following the transaction, the chief executive officer now directly owns 154,864 shares in the company, valued at approximately $1,068,561.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mark Gruber purchased 3,000 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were acquired at an average cost of $8.80 per share, with a total value of $26,400.00. Following the completion of the transaction, the insider now owns 54,890 shares in the company, valued at $483,032. The disclosure for this purchase can be found here. Company insiders own 1.30% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of ARR. State Street Corp raised its holdings in ARMOUR Residential REIT by 4.1% in the first quarter. State Street Corp now owns 2,083,642 shares of the real estate investment trust’s stock worth $18,357,000 after buying an additional 82,232 shares during the last quarter. Geode Capital Management LLC raised its holdings in ARMOUR Residential REIT by 15.1% in the fourth quarter. Geode Capital Management LLC now owns 867,603 shares of the real estate investment trust’s stock worth $15,504,000 after buying an additional 113,818 shares during the last quarter. Norges Bank purchased a new position in ARMOUR Residential REIT in the fourth quarter worth about $13,509,000. Bank of New York Mellon Corp raised its holdings in ARMOUR Residential REIT by 2.8% in the first quarter. Bank of New York Mellon Corp now owns 661,848 shares of the real estate investment trust’s stock worth $5,830,000 after buying an additional 18,119 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of ARMOUR Residential REIT by 18.4% during the first quarter. JPMorgan Chase & Co. now owns 594,655 shares of the real estate investment trust’s stock valued at $5,238,000 after purchasing an additional 92,291 shares during the last quarter. 52.69% of the stock is owned by institutional investors.

ARMOUR Residential REIT stock traded up $0.47 during trading hours on Friday, reaching $9.49. The stock had a trading volume of 1,270,100 shares, compared to its average volume of 1,516,432. The stock has a market cap of $590.35 million, a PE ratio of -1.01 and a beta of 1.04. ARMOUR Residential REIT has a 52 week low of $4.95 and a 52 week high of $21.15. The company has a fifty day simple moving average of $8.40 and a 200-day simple moving average of $13.51.

The business also recently announced a monthly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be paid a dividend of $0.10 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 12.64%. The ex-dividend date of this dividend is Monday, September 14th. ARMOUR Residential REIT’s payout ratio is 47.58%.

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.

Featured Story: What impact do institutional investors have on markets?

Analyst Recommendations for ARMOUR Residential REIT (NYSE:ARR)

Receive News & Ratings for ARMOUR Residential REIT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ARMOUR Residential REIT and related companies with MarketBeat.com's FREE daily email newsletter.