ARMOUR Residential REIT, Inc. (NYSE:ARR) declared a monthly dividend on Tuesday, February 27th, Wall Street Journal reports. Shareholders of record on Thursday, March 15th will be given a dividend of 0.19 per share by the real estate investment trust on Wednesday, March 28th. This represents a $2.28 annualized dividend and a yield of 10.06%. The ex-dividend date is Wednesday, March 14th.
ARMOUR Residential REIT has decreased its dividend payment by an average of 22.0% annually over the last three years and has raised its dividend every year for the last 3 years. ARMOUR Residential REIT has a payout ratio of 84.8% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Research analysts expect ARMOUR Residential REIT to earn $2.45 per share next year, which means the company should continue to be able to cover its $2.28 annual dividend with an expected future payout ratio of 93.1%.
ARMOUR Residential REIT (NYSE ARR) traded down $0.03 during midday trading on Wednesday, reaching $22.66. The company’s stock had a trading volume of 593,678 shares, compared to its average volume of 530,022. ARMOUR Residential REIT has a 52 week low of $21.33 and a 52 week high of $27.60. The firm has a market cap of $955.86, a PE ratio of 5.52 and a beta of 0.60.
ARMOUR Residential REIT (NYSE:ARR) last announced its quarterly earnings results on Tuesday, February 13th. The real estate investment trust reported $0.68 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.03. ARMOUR Residential REIT had a return on equity of 12.51% and a net margin of 65.90%. During the same quarter last year, the business posted $0.71 EPS. equities research analysts forecast that ARMOUR Residential REIT will post 2.75 EPS for the current year.
Separately, Zacks Investment Research lowered ARMOUR Residential REIT from a “buy” rating to a “hold” rating in a research note on Monday, January 1st.
In other ARMOUR Residential REIT news, COO Mark Gruber purchased 2,000 shares of ARMOUR Residential REIT stock in a transaction on Tuesday, February 20th. The shares were bought at an average price of $22.70 per share, with a total value of $45,400.00. Following the purchase, the chief operating officer now directly owns 22,300 shares in the company, valued at approximately $506,210. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jeffrey J. Zimmer purchased 6,500 shares of ARMOUR Residential REIT stock in a transaction on Friday, March 9th. The shares were acquired at an average cost of $22.52 per share, for a total transaction of $146,380.00. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 12,500 shares of company stock worth $283,740. 1.50% of the stock is owned by corporate insiders.
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ARMOUR Residential REIT Company Profile
ARMOUR Residential REIT, Inc is a real estate investment trust. The Company invests in and manages a leveraged portfolio of mortgage-backed securities (MBS) and mortgage loans. The Company invests in residential mortgage backed securities issued or guaranteed by a United States Government-sponsored enterprise (GSE), such as the Federal National Mortgage Association or the Federal Home Loan Mortgage Corporation, or a government agency, such as the Government National Mortgage Association (collectively, Agency Securities).
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