Strait & Sound Wealth Management LLC Invests $1.22 Million in ARMOUR Residential REIT, Inc. $ARR

Strait & Sound Wealth Management LLC acquired a new stake in shares of ARMOUR Residential REIT, Inc. (NYSE:ARR) in the 1st quarter, HoldingsChannel.com reports. The firm acquired 73,352 shares of the real estate investment trust’s stock, valued at approximately $1,224,000.

A number of other institutional investors have also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD grew its stake in ARMOUR Residential REIT by 0.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 86,494 shares of the real estate investment trust’s stock worth $1,531,000 after buying an additional 579 shares during the last quarter. Allworth Financial LP raised its stake in ARMOUR Residential REIT by 40.7% in the fourth quarter. Allworth Financial LP now owns 2,369 shares of the real estate investment trust’s stock valued at $42,000 after buying an additional 685 shares during the last quarter. Stephens Inc. AR raised its stake in ARMOUR Residential REIT by 5.0% in the fourth quarter. Stephens Inc. AR now owns 19,310 shares of the real estate investment trust’s stock valued at $342,000 after buying an additional 915 shares during the last quarter. ProShare Advisors LLC boosted its holdings in ARMOUR Residential REIT by 4.7% in the fourth quarter. ProShare Advisors LLC now owns 21,946 shares of the real estate investment trust’s stock worth $388,000 after acquiring an additional 988 shares in the last quarter. Finally, California State Teachers Retirement System boosted its holdings in ARMOUR Residential REIT by 1.8% in the second quarter. California State Teachers Retirement System now owns 60,209 shares of the real estate investment trust’s stock worth $1,012,000 after acquiring an additional 1,039 shares in the last quarter. Institutional investors and hedge funds own 54.17% of the company’s stock.

ARMOUR Residential REIT Stock Down 0.4%

Shares of NYSE:ARR opened at $16.34 on Thursday. ARMOUR Residential REIT, Inc. has a 52-week low of $13.98 and a 52-week high of $19.31. The stock has a market cap of $2.31 billion, a price-to-earnings ratio of 4.39 and a beta of 1.36. The business has a 50-day moving average price of $16.90 and a 200-day moving average price of $17.32.

ARMOUR Residential REIT (NYSE:ARR) last issued its earnings results on Wednesday, July 22nd. The real estate investment trust reported $0.72 EPS for the quarter, meeting analysts’ consensus estimates of $0.72. ARMOUR Residential REIT had a return on equity of 15.10% and a net margin of 44.90%.The firm had revenue of $113.29 million for the quarter, compared to analyst estimates of $111.98 million. As a group, equities analysts anticipate that ARMOUR Residential REIT, Inc. will post 2.93 EPS for the current fiscal year.

ARMOUR Residential REIT Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, August 28th. Stockholders of record on Monday, August 17th will be issued a $0.24 dividend. This represents a c) annualized dividend and a dividend yield of 17.6%. The ex-dividend date of this dividend is Monday, August 17th. ARMOUR Residential REIT’s dividend payout ratio is 77.42%.

Analyst Ratings Changes

ARR has been the topic of several recent analyst reports. Weiss Ratings restated a “sell (d+)” rating on shares of ARMOUR Residential REIT in a report on Wednesday, June 17th. Zacks Research upgraded shares of ARMOUR Residential REIT from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 21st. UBS Group reissued a “neutral” rating and set a $18.00 target price (up from $17.50) on shares of ARMOUR Residential REIT in a research report on Friday, April 24th. Finally, JonesTrading cut their price target on shares of ARMOUR Residential REIT from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Thursday, April 23rd. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $18.50.

About ARMOUR Residential REIT

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.