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

ARMOUR Residential REIT, Inc. (NYSE:ARR) announced a monthly dividend on Tuesday, September 24th, NASDAQ reports. Shareholders of record on Tuesday, October 15th will be paid a dividend of 0.24 per share by the real estate investment trust on Wednesday, October 30th. This represents a $2.88 dividend on an annualized basis and a yield of 14.24%. The ex-dividend date is Tuesday, October 15th.

ARMOUR Residential REIT has a payout ratio of 70.6% indicating that its dividend is sufficiently covered by earnings. 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 Stock Down 1.1 %

Shares of ARMOUR Residential REIT stock opened at $20.23 on Thursday. The company has a market capitalization of $986.01 million, a price-to-earnings ratio of -28.09 and a beta of 1.50. ARMOUR Residential REIT has a 52 week low of $13.31 and a 52 week high of $22.40. The stock’s 50-day simple moving average is $20.41 and its 200-day simple moving average is $19.65.

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. The firm had revenue of $129.93 million for the quarter, compared to analysts’ expectations of $28.47 million. ARMOUR Residential REIT had a positive return on equity of 16.64% and a negative net margin of 19.85%. On average, equities analysts expect that ARMOUR Residential REIT will post 3.81 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Janney Montgomery Scott started coverage on shares of ARMOUR Residential REIT in a report on Thursday, June 6th. They issued a “neutral” rating and a $20.00 target price for the company. StockNews.com lowered ARMOUR Residential REIT from a “hold” rating to a “sell” rating in a research report on Wednesday, August 21st. B. Riley raised their target price on shares of ARMOUR Residential REIT from $20.00 to $21.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Finally, JMP Securities restated a “market perform” rating on shares of ARMOUR Residential REIT in a report on Wednesday, August 28th. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. According to data from MarketBeat.com, ARMOUR Residential REIT has an average rating of “Hold” and an average price target of $19.83.

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.