ARMOUR Residential REIT, Inc. (NYSE:ARR) declared a monthly dividend on Tuesday, December 26th, Zacks reports. Investors of record on Tuesday, January 16th will be paid a dividend of 0.19 per share by the real estate investment trust on Monday, January 29th. This represents a $2.28 annualized dividend and a yield of 9.00%. The ex-dividend date is Friday, January 12th.
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% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities research analysts expect ARMOUR Residential REIT to earn $2.39 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 95.4%.
ARMOUR Residential REIT (NYSE:ARR) opened at $25.34 on Thursday. The firm has a market capitalization of $1,060.00, a P/E ratio of 5.01 and a beta of 0.74. ARMOUR Residential REIT has a 52-week low of $20.81 and a 52-week high of $27.60.
ARMOUR Residential REIT (NYSE:ARR) last issued its quarterly earnings data on Wednesday, October 25th. The real estate investment trust reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.03. ARMOUR Residential REIT had a return on equity of 9.39% and a net margin of 76.46%. The company had revenue of $39.64 million during the quarter, compared to analyst estimates of $37.49 million. During the same period in the prior year, the business posted $0.68 earnings per share. analysts expect that ARMOUR Residential REIT will post 2.69 EPS for the current fiscal year.
In other news, COO Mark Gruber purchased 4,000 shares of the firm’s stock in a transaction on Monday, October 30th. The shares were bought at an average cost of $25.38 per share, for a total transaction of $101,520.00. Following the completion of the purchase, the chief operating officer now directly owns 19,958 shares of the company’s stock, valued at $506,534.04. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.50% of the stock is owned by corporate insiders.
Separately, Zacks Investment Research upgraded ARMOUR Residential REIT from a “hold” rating to a “buy” rating and set a $28.00 price target on the stock in a research note on Tuesday, October 31st.
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About ARMOUR Residential REIT
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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