ARMOUR Residential REIT, Inc. (ARR) To Go Ex-Dividend on October 15th

ARMOUR Residential REIT, Inc. (NYSE:ARR) declared a monthly dividend on Tuesday, September 24th, NASDAQ reports. Investors of record on Tuesday, October 15th will be given a dividend of 0.24 per share by the real estate investment trust on Wednesday, October 30th. This represents a $2.88 dividend on an annualized basis and a yield of 14.24%. The ex-dividend date of this dividend is Tuesday, October 15th.

ARMOUR Residential REIT has a payout ratio of 70.6% indicating that its dividend is sufficiently covered by earnings. Research 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 Down 1.1 %

Shares of ARMOUR Residential REIT stock opened at $20.23 on Thursday. The firm’s 50-day moving average price is $20.41 and its two-hundred day moving average price is $19.65. The company has a market capitalization of $986.01 million, a price-to-earnings ratio of -28.09 and a beta of 1.50. ARMOUR Residential REIT has a 12-month low of $13.31 and a 12-month high of $22.40.

ARMOUR Residential REIT (NYSE:ARR) last released its quarterly earnings data on Wednesday, July 24th. The real estate investment trust reported $1.08 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.09. ARMOUR Residential REIT had a positive return on equity of 16.64% and a negative net margin of 19.85%. The company had revenue of $129.93 million for the quarter, compared to the consensus estimate of $28.47 million. On average, sell-side analysts expect that ARMOUR Residential REIT will post 3.81 earnings per share for the current year.

Wall Street Analyst Weigh In

ARR has been the topic of several research reports. Janney Montgomery Scott began coverage on shares of ARMOUR Residential REIT in a report on Thursday, June 6th. They set a “neutral” rating and a $20.00 price objective on the stock. B. Riley upped their price target on ARMOUR Residential REIT from $20.00 to $21.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. JMP Securities reaffirmed a “market perform” rating on shares of ARMOUR Residential REIT in a report on Wednesday, August 28th. Finally, StockNews.com lowered ARMOUR Residential REIT from a “hold” rating to a “sell” rating in a report on Wednesday, August 21st. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. According to data from MarketBeat, ARMOUR Residential REIT has a consensus rating of “Hold” and an average target price of $19.83.

About ARMOUR Residential REIT

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.