Zacks Investment Research Lowers ARMOUR Residential REIT (NYSE:ARR) to Hold

Zacks Investment Research downgraded shares of ARMOUR Residential REIT (NYSE:ARR) from a buy rating to a hold rating in a research note issued to investors on Friday, April 6th.

According to Zacks, “ARMOUR Residential REIT, Inc. invests primarily in residential mortgage-backed securities issued or guaranteed by a United States Government-chartered entity. “

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Shares of NYSE:ARR traded down $0.14 on Friday, reaching $23.07. The company’s stock had a trading volume of 255,761 shares, compared to its average volume of 495,410. ARMOUR Residential REIT has a 52-week low of $21.40 and a 52-week high of $27.60. The stock has a market capitalization of $983.70, a price-to-earnings ratio of 8.81 and a beta of 0.53.

ARMOUR Residential REIT (NYSE:ARR) last announced its earnings results on Tuesday, February 13th. The real estate investment trust reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.03. ARMOUR Residential REIT had a net margin of 65.90% and a return on equity of 12.51%. During the same period in the previous year, the business earned $0.71 earnings per share. equities research analysts forecast that ARMOUR Residential REIT will post 2.45 earnings per share for the current fiscal year.

The company also recently declared a monthly dividend, which will be paid on Friday, April 27th. Investors of record on Friday, April 13th will be issued a dividend of $0.19 per share. The ex-dividend date is Thursday, April 12th. This represents a $2.28 annualized dividend and a yield of 9.88%. ARMOUR Residential REIT’s dividend payout ratio is currently 87.02%.

In related news, CFO James R. Mountain bought 4,000 shares of the stock in a transaction on Friday, February 16th. The shares were bought at an average cost of $22.99 per share, for a total transaction of $91,960.00. Following the completion of the transaction, the chief financial officer now owns 23,579 shares of the company’s stock, valued at approximately $542,081.21. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jeffrey J. Zimmer bought 6,500 shares of the stock in a transaction on Friday, March 9th. The shares were bought at an average price of $22.52 per share, for a total transaction of $146,380.00. The disclosure for this purchase can be found here. Insiders have purchased 12,500 shares of company stock valued at $283,740 over the last three months. 1.20% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Aperio Group LLC grew its position in shares of ARMOUR Residential REIT by 19.9% in the fourth quarter. Aperio Group LLC now owns 14,387 shares of the real estate investment trust’s stock valued at $370,000 after purchasing an additional 2,388 shares during the last quarter. Paloma Partners Management Co grew its position in shares of ARMOUR Residential REIT by 26.0% in the fourth quarter. Paloma Partners Management Co now owns 14,525 shares of the real estate investment trust’s stock valued at $374,000 after purchasing an additional 2,994 shares during the last quarter. California Public Employees Retirement System grew its position in shares of ARMOUR Residential REIT by 2.4% in the third quarter. California Public Employees Retirement System now owns 140,252 shares of the real estate investment trust’s stock valued at $3,773,000 after purchasing an additional 3,277 shares during the last quarter. Crossmark Global Holdings Inc. grew its position in shares of ARMOUR Residential REIT by 42.8% in the fourth quarter. Crossmark Global Holdings Inc. now owns 11,280 shares of the real estate investment trust’s stock valued at $290,000 after purchasing an additional 3,380 shares during the last quarter. Finally, Texas Permanent School Fund boosted its position in ARMOUR Residential REIT by 16.0% during the fourth quarter. Texas Permanent School Fund now owns 28,302 shares of the real estate investment trust’s stock worth $728,000 after acquiring an additional 3,894 shares during the last quarter. Institutional investors own 60.22% of the company’s stock.

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ARMOUR Residential REIT Company Profile

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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