ARMOUR Residential REIT, Inc. (NYSE:ARR) to Issue $0.24 Monthly Dividend

ARMOUR Residential REIT, Inc. (NYSE:ARR) announced a monthly dividend on Thursday, January 29th. Shareholders of record on Tuesday, February 17th will be given a dividend of 0.24 per share by the real estate investment trust on Friday, February 27th. This represents a c) dividend on an annualized basis and a yield of 16.4%. The ex-dividend date is Tuesday, February 17th.

ARMOUR Residential REIT has decreased its dividend payment by an average of 0.2%per year over the last three years. ARMOUR Residential REIT has a payout ratio of 82.1% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities analysts expect ARMOUR Residential REIT to earn $4.25 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 67.8%.

ARMOUR Residential REIT Stock Performance

Shares of ARMOUR Residential REIT stock traded down $0.80 during trading hours on Friday, hitting $17.58. The company’s stock had a trading volume of 2,291,015 shares, compared to its average volume of 3,963,479. The company has a market cap of $1.97 billion, a PE ratio of 440.13 and a beta of 1.44. The business has a 50 day moving average price of $17.76 and a two-hundred day moving average price of $16.46. ARMOUR Residential REIT has a 12-month low of $13.18 and a 12-month high of $19.31.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ARR shares. UBS Group restated a “neutral” rating and issued a $16.00 price target on shares of ARMOUR Residential REIT in a research note on Wednesday, October 8th. Zacks Research raised shares of ARMOUR Residential REIT from a “strong sell” rating to a “hold” rating in a report on Friday, January 16th. Weiss Ratings restated a “sell (d)” rating on shares of ARMOUR Residential REIT in a research report on Wednesday, January 21st. Compass Point initiated coverage on shares of ARMOUR Residential REIT in a research note on Monday, December 15th. They set a “buy” rating and a $18.50 target price for the company. Finally, Jones Trading upgraded shares of ARMOUR Residential REIT from a “hold” rating to a “buy” rating and set a $20.50 price target on the stock in a report on Friday, January 16th. Three research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $18.33.

ARMOUR Residential REIT Company Profile

ARMOUR Residential REIT (NYSE:ARR) is a mortgage real estate investment trust that was formed in 2008 to acquire and manage a portfolio of residential mortgage-backed securities (RMBS). The company’s investments are primarily agency-sponsored and agency-guaranteed RMBS issued by U.S. government-sponsored enterprises, along with credit risk transfer securities and select non-agency residential and multifamily RMBS. By focusing on high-quality mortgage assets, ARMOUR Residential REIT seeks to generate stable income and preserve capital through diversified exposure to the U.S.