ARMOUR Residential REIT (NYSE:ARR) announced a monthly dividend on Wednesday, April 25th, Zacks reports. Investors of record on Tuesday, May 15th will be given a dividend of 0.19 per share by the real estate investment trust on Wednesday, May 30th. This represents a $2.28 annualized dividend and a yield of 9.88%. The ex-dividend date of this dividend is Monday, May 14th.
ARMOUR Residential REIT has decreased its dividend payment by an average of 22.0% per year over the last three years and has raised its dividend annually for the last 3 consecutive years. ARMOUR Residential REIT has a payout ratio of 84.8% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities analysts expect ARMOUR Residential REIT to earn $2.40 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 95.0%.
NYSE:ARR opened at $23.08 on Thursday. ARMOUR Residential REIT has a one year low of $21.40 and a one year high of $27.60. The company has a market cap of $957.48 million, a P/E ratio of 8.81 and a beta of 0.54.
ARMOUR Residential REIT (NYSE:ARR) last issued its quarterly earnings results on Monday, April 30th. The real estate investment trust reported $0.66 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.03. The firm had revenue of $54.21 million for the quarter. ARMOUR Residential REIT had a net margin of 53.83% and a return on equity of 9.16%. analysts predict that ARMOUR Residential REIT will post 2.45 earnings per share for the current year.
In other news, CEO Jeffrey J. Zimmer purchased 6,500 shares of the company’s stock in a transaction dated Friday, March 9th. The shares were purchased at an average price of $22.52 per share, for a total transaction of $146,380.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.60% of the stock is currently owned by insiders.
A number of research analysts have recently issued reports on ARR shares. Zacks Investment Research upgraded shares of ARMOUR Residential REIT from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research report on Wednesday, March 21st. Barclays dropped their price target on shares of ARMOUR Residential REIT from $24.00 to $22.00 and set an “underweight” rating on the stock in a research report on Friday, April 27th. Finally, ValuEngine downgraded shares of ARMOUR Residential REIT from a “buy” rating to a “hold” rating in a research report on Wednesday, May 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $24.00.
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.
Receive News & Ratings for ARMOUR Residential REIT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ARMOUR Residential REIT and related companies with MarketBeat.com's FREE daily email newsletter.