ARMOUR Residential REIT, Inc. (NYSE:ARR – Get Free Report) 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.
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.
Check Out Our Latest Stock Report on ARR
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.
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