ARMOUR Residential REIT, Inc. (NYSE:ARR) passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $18.28 and traded as high as $18.93. ARMOUR Residential REIT shares last traded at $18.80, with a volume of 361,896 shares trading hands.
Several analysts recently commented on the stock. Nomura reduced their price objective on shares of Carnival from $66.00 to $61.00 and set a “buy” rating for the company in a research note on Wednesday, March 27th. ValuEngine upgraded shares of Zynerba Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Monday, April 1st. Finally, Zacks Investment Research cut shares of Hancock Jaffe Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, June 26th. Two analysts have rated the stock with a sell rating and two have given a hold rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $20.67.
The firm has a market cap of $1.13 billion, a P/E ratio of 7.54 and a beta of 0.67. The business has a 50-day moving average price of $18.28.
The company also recently declared a monthly dividend, which will be paid on Monday, July 29th. Stockholders of record on Monday, July 15th will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, July 12th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 10.83%. ARMOUR Residential REIT’s dividend payout ratio (DPR) is presently 91.20%.
In related news, CEO Scott Ulm purchased 80,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were purchased at an average cost of $17.93 per share, with a total value of $1,434,400.00. Following the completion of the acquisition, the chief executive officer now directly owns 120,764 shares of the company’s stock, valued at approximately $2,165,298.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Daniel C. Staton purchased 5,000 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The stock was bought at an average cost of $18.70 per share, for a total transaction of $93,500.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 93,000 shares of company stock valued at $1,680,150. Insiders own 1.30% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of ARR. Norges Bank acquired a new stake in ARMOUR Residential REIT in the 4th quarter valued at about $12,206,000. BlackRock Inc. lifted its holdings in ARMOUR Residential REIT by 6.7% in the 4th quarter. BlackRock Inc. now owns 7,434,751 shares of the real estate investment trust’s stock valued at $152,414,000 after acquiring an additional 466,884 shares during the last quarter. Marshall Wace LLP acquired a new stake in ARMOUR Residential REIT in the 1st quarter valued at about $6,733,000. JPMorgan Chase & Co. lifted its holdings in ARMOUR Residential REIT by 120.3% in the 1st quarter. JPMorgan Chase & Co. now owns 461,112 shares of the real estate investment trust’s stock valued at $9,005,000 after acquiring an additional 251,766 shares during the last quarter. Finally, Menta Capital LLC acquired a new stake in ARMOUR Residential REIT in the 1st quarter valued at about $1,242,000. 62.14% of the stock is currently owned by hedge funds and other institutional investors.
ARMOUR Residential REIT Company Profile (NYSE:ARR)
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.
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