JonesTrading Cuts ARMOUR Residential REIT (NYSE:ARR) Price Target to $20.00

ARMOUR Residential REIT (NYSE:ARR) had its target price cut by equities researchers at JonesTrading from $20.50 to $20.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the real estate investment trust’s stock. JonesTrading’s target price would suggest a potential upside of 13.41% from the stock’s current price.

A number of other research firms have also recently weighed in on ARR. Weiss Ratings restated a “sell (d)” rating on shares of ARMOUR Residential REIT in a research note on Wednesday, January 21st. Zacks Research raised ARMOUR Residential REIT from a “strong sell” rating to a “hold” rating in a research report on Friday, January 16th. Finally, Compass Point started coverage on 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. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, ARMOUR Residential REIT has an average rating of “Hold” and a consensus target price of $18.17.

ARMOUR Residential REIT Stock Performance

ARR stock opened at $17.64 on Friday. The company’s 50 day moving average price is $17.91 and its 200 day moving average price is $16.57. The firm has a market capitalization of $1.97 billion, a price-to-earnings ratio of 6.46 and a beta of 1.46. ARMOUR Residential REIT has a fifty-two week low of $13.18 and a fifty-two week high of $19.31.

ARMOUR Residential REIT (NYSE:ARR) last posted its quarterly earnings results on Wednesday, February 18th. The real estate investment trust reported $0.71 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.03). ARMOUR Residential REIT had a return on equity of 16.20% and a net margin of 40.31%.The firm had revenue of $236.50 million for the quarter, compared to analyst estimates of $62.34 million. Equities analysts forecast that ARMOUR Residential REIT will post 3.8 EPS for the current fiscal year.

Insider Buying and Selling at ARMOUR Residential REIT

In other news, Director Robert C. Hain sold 6,833 shares of the firm’s stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $18.06, for a total transaction of $123,403.98. Following the transaction, the director directly owned 1,010 shares in the company, valued at approximately $18,240.60. This trade represents a 87.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.35% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Wolverine Asset Management LLC increased its position in ARMOUR Residential REIT by 570.6% in the 3rd quarter. Wolverine Asset Management LLC now owns 848,724 shares of the real estate investment trust’s stock valued at $12,680,000 after acquiring an additional 722,160 shares during the period. Simplicity Wealth LLC purchased a new position in shares of ARMOUR Residential REIT in the 3rd quarter valued at approximately $1,037,000. Principal Financial Group Inc. increased its holdings in shares of ARMOUR Residential REIT by 34.1% in the third quarter. Principal Financial Group Inc. now owns 543,434 shares of the real estate investment trust’s stock valued at $8,119,000 after purchasing an additional 138,039 shares during the period. ORG Wealth Partners LLC purchased a new stake in shares of ARMOUR Residential REIT during the third quarter worth approximately $4,706,000. Finally, Public Sector Pension Investment Board lifted its holdings in shares of ARMOUR Residential REIT by 57.6% during the third quarter. Public Sector Pension Investment Board now owns 439,096 shares of the real estate investment trust’s stock worth $6,560,000 after purchasing an additional 160,422 shares during the period. 54.17% of the stock is owned by hedge funds and other institutional investors.

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.