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

ARMOUR Residential REIT, Inc. (NYSE:ARR) declared a monthly dividend on Wednesday, June 24th. Investors of record on Wednesday, July 15th will be given a dividend of 0.24 per share by the real estate investment trust on Thursday, July 30th. This represents a c) dividend on an annualized basis and a yield of 17.0%. The ex-dividend date is Wednesday, July 15th.

ARMOUR Residential REIT has decreased its dividend payment by an average of 0.1%annually 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 tumble. Research analysts expect ARMOUR Residential REIT to earn $3.00 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 96.0%.

ARMOUR Residential REIT Price Performance

Shares of ARR opened at $16.95 on Thursday. The company has a market cap of $2.10 billion, a P/E ratio of 8.83 and a beta of 1.36. The stock has a fifty day moving average price of $17.14 and a 200 day moving average price of $17.42. ARMOUR Residential REIT has a 12 month low of $13.98 and a 12 month high of $19.31.

ARMOUR Residential REIT (NYSE:ARR) last issued its earnings results on Wednesday, April 22nd. The real estate investment trust reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.03. The firm had revenue of $70.71 million for the quarter, compared to analyst estimates of $155.79 million. ARMOUR Residential REIT had a return on equity of 15.39% and a net margin of 27.43%. As a group, research analysts anticipate that ARMOUR Residential REIT will post 2.82 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Zacks Research lowered shares of ARMOUR Residential REIT from a “hold” rating to a “strong sell” rating in a research report on Monday. Weiss Ratings reiterated a “sell (d+)” rating on shares of ARMOUR Residential REIT in a research report on Wednesday, June 17th. JonesTrading reduced their target price on shares of ARMOUR Residential REIT from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday, April 23rd. Finally, UBS Group restated a “neutral” rating and issued a $18.00 target price (up from $17.50) on shares of ARMOUR Residential REIT in a research report on Friday, April 24th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock has a consensus 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.