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

ARMOUR Residential REIT, Inc. (NYSE:ARR) declared a monthly dividend on Thursday, August 29th, Wall Street Journal reports. Shareholders of record on Monday, September 16th will be paid a dividend of 0.24 per share by the real estate investment trust on Friday, September 27th. This represents a $2.88 dividend on an annualized basis and a yield of 14.09%. The ex-dividend date is Monday, September 16th.

ARMOUR Residential REIT has a dividend payout ratio of 69.4% 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 Up 0.6 %

ARMOUR Residential REIT stock opened at $20.45 on Friday. The firm has a fifty day moving average of $20.21 and a 200-day moving average of $19.47. ARMOUR Residential REIT has a 52-week low of $13.31 and a 52-week high of $24.85. The firm has a market capitalization of $996.73 million, a P/E ratio of -28.40 and a beta of 1.51.

ARMOUR Residential REIT (NYSE:ARR) last released its quarterly earnings data on Wednesday, July 24th. The real estate investment trust reported $1.08 EPS for the quarter, beating the consensus estimate of $0.99 by $0.09. The company had revenue of $129.93 million for the quarter, compared to analyst estimates 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, research analysts expect that ARMOUR Residential REIT will post 3.81 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently commented on ARR. JMP Securities reissued a “market perform” rating on shares of ARMOUR Residential REIT in a research report on Wednesday. Janney Montgomery Scott initiated coverage on shares of ARMOUR Residential REIT in a research note on Thursday, June 6th. They issued a “neutral” rating and a $20.00 target price for the company. StockNews.com lowered shares of ARMOUR Residential REIT from a “hold” rating to a “sell” rating in a report on Wednesday, August 21st. Finally, B. Riley boosted their price objective on shares of ARMOUR Residential REIT from $20.00 to $21.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. Based on data from MarketBeat, ARMOUR Residential REIT has an average rating of “Hold” and an average target price of $19.83.

ARMOUR Residential REIT Company Profile

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.