ARMOUR Residential REIT, Inc. (NYSE:ARR) Plans $0.24 Monthly Dividend

ARMOUR Residential REIT, Inc. (NYSE:ARR) announced a monthly dividend on Tuesday, October 22nd, NASDAQ reports. Stockholders of record on Friday, November 15th will be given a dividend of 0.24 per share by the real estate investment trust on Wednesday, November 27th. This represents a $2.88 annualized dividend and a dividend yield of 14.71%. The ex-dividend date is Friday, November 15th.

ARMOUR Residential REIT has a dividend payout ratio of 70.4% 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 0.6 %

NYSE:ARR traded down $0.11 on Wednesday, reaching $19.58. The company’s stock had a trading volume of 1,556,227 shares, compared to its average volume of 1,122,490. ARMOUR Residential REIT has a 12-month low of $13.31 and a 12-month high of $21.93. The stock has a 50 day moving average price of $20.21 and a 200 day moving average price of $19.73. The firm has a market cap of $954.56 million, a price-to-earnings ratio of -27.37 and a beta of 1.50.

ARMOUR Residential REIT (NYSE:ARR) last posted its earnings results on Wednesday, July 24th. The real estate investment trust reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.09. ARMOUR Residential REIT had a negative net margin of 19.85% and a positive return on equity of 16.64%. The company had revenue of $129.93 million for the quarter, compared to analysts’ expectations of $28.47 million. Equities research analysts expect that ARMOUR Residential REIT will post 3.81 EPS for the current fiscal year.

Insider Activity at ARMOUR Residential REIT

In related news, Chairman Daniel C. Staton purchased 10,000 shares of ARMOUR Residential REIT stock in a transaction on Thursday, October 3rd. The shares were bought at an average price of $19.86 per share, with a total value of $198,600.00. Following the transaction, the chairman now directly owns 24,040 shares of the company’s stock, valued at approximately $477,434.40. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.35% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

ARR has been the topic of a number of research analyst reports. JMP Securities reissued a “market perform” rating on shares of ARMOUR Residential REIT in a research report on Wednesday, August 28th. StockNews.com cut ARMOUR Residential REIT from a “hold” rating to a “sell” rating in a report on Wednesday, August 21st. Finally, B. Riley boosted their price target on shares of ARMOUR Residential REIT from $20.00 to $21.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus 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.