Zacks Investment Research Upgrades ARMOUR Residential REIT (ARR) to Strong-Buy

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ARMOUR Residential REIT (NYSE:ARR) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report issued on Wednesday. The brokerage presently has a $25.00 price objective on the real estate investment trust’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 14.78% from the stock’s current price.

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

Several other analysts also recently weighed in on ARR. ValuEngine raised shares of ARMOUR Residential REIT from a “sell” rating to a “hold” rating in a research note on Thursday, July 5th. Barclays set a $21.00 price target on shares of ARMOUR Residential REIT and gave the stock a “sell” rating in a research note on Saturday, July 28th.

ARMOUR Residential REIT stock traded up $0.11 during mid-day trading on Wednesday, hitting $21.78. The company’s stock had a trading volume of 630,501 shares, compared to its average volume of 474,496. The company has a market capitalization of $907.25 million, a PE ratio of 8.31 and a beta of 0.61. ARMOUR Residential REIT has a 12 month low of $20.15 and a 12 month high of $26.50.

ARMOUR Residential REIT (NYSE:ARR) last posted its quarterly earnings results on Wednesday, October 24th. The real estate investment trust reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.03. The business had revenue of $57.06 million during the quarter. ARMOUR Residential REIT had a net margin of 50.37% and a return on equity of 9.85%. As a group, analysts predict that ARMOUR Residential REIT will post 2.45 earnings per share for the current year.

In other ARMOUR Residential REIT news, Director Robert C. Hain sold 1,500 shares of the business’s stock in a transaction on Tuesday, August 7th. The shares were sold at an average price of $23.57, for a total value of $35,355.00. Following the completion of the sale, the director now directly owns 1,431 shares of the company’s stock, valued at $33,728.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.60% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in ARR. Renaissance Technologies LLC raised its stake in ARMOUR Residential REIT by 222.5% in the second quarter. Renaissance Technologies LLC now owns 103,521 shares of the real estate investment trust’s stock worth $2,361,000 after buying an additional 71,424 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in ARMOUR Residential REIT in the second quarter worth about $1,260,000. Advisors Preferred LLC bought a new position in ARMOUR Residential REIT in the third quarter worth about $677,000. Laurion Capital Management LP bought a new position in ARMOUR Residential REIT in the second quarter worth about $625,000. Finally, First Trust Advisors LP raised its stake in ARMOUR Residential REIT by 24.5% in the third quarter. First Trust Advisors LP now owns 130,134 shares of the real estate investment trust’s stock worth $2,922,000 after buying an additional 25,609 shares in the last quarter. 55.50% of the stock is owned by institutional investors.

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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