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

Shares of ARMOUR Residential REIT, Inc. (NYSE:ARR) have been assigned an average recommendation of “Hold” from the seven analysts that are covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $11.88.

ARR has been the topic of a number of analyst reports. ValuEngine cut shares of ARMOUR Residential REIT from a “sell” rating to a “strong sell” rating in a research report on Thursday, April 2nd. Zacks Investment Research lowered shares of ARMOUR Residential REIT from a “buy” rating to a “sell” rating in a report on Friday, May 8th. 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. 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. Finally, 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.

In related news, CEO Scott Ulm bought 10,000 shares of the business’s stock in a transaction dated Monday, April 6th. The shares were purchased at an average price of $6.90 per share, with a total value of $69,000.00. Following the purchase, the chief executive officer now owns 154,864 shares of the company’s stock, valued at approximately $1,068,561.60. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. 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. Insiders own 1.30% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. State Street Corp lifted its position in ARMOUR Residential REIT by 4.1% during the 1st quarter. State Street Corp now owns 2,083,642 shares of the real estate investment trust’s stock valued at $18,357,000 after acquiring an additional 82,232 shares during the period. Geode Capital Management LLC lifted its position in ARMOUR Residential REIT by 15.1% during the 4th quarter. Geode Capital Management LLC now owns 867,603 shares of the real estate investment trust’s stock valued at $15,504,000 after acquiring an additional 113,818 shares during the period. Norges Bank purchased a new position in ARMOUR Residential REIT during the 4th quarter valued at about $13,509,000. Bank of New York Mellon Corp lifted its position in ARMOUR Residential REIT by 2.8% during the 1st quarter. Bank of New York Mellon Corp now owns 661,848 shares of the real estate investment trust’s stock valued at $5,830,000 after acquiring an additional 18,119 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in ARMOUR Residential REIT by 18.4% during the 1st quarter. JPMorgan Chase & Co. now owns 594,655 shares of the real estate investment trust’s stock valued at $5,238,000 after acquiring an additional 92,291 shares during the period. 52.69% of the stock is owned by institutional investors.

NYSE:ARR traded up $0.47 during trading hours on Friday, reaching $9.49. The company’s stock had a trading volume of 1,270,100 shares, compared to its average volume of 1,516,432. The firm has a market capitalization of $590.35 million, a price-to-earnings ratio of -1.01 and a beta of 1.04. The firm has a 50-day simple moving average of $8.40 and a 200-day simple moving average of $13.51. ARMOUR Residential REIT has a 1 year low of $4.95 and a 1 year high of $21.15.

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.

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Analyst Recommendations for ARMOUR Residential REIT (NYSE:ARR)

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