According to Zacks, “ARMOUR Residential REIT, Inc. invests primarily in residential mortgage-backed securities issued or guaranteed by a United States Government-chartered entity. “
ARR has been the subject of a number of other reports. Barclays restated a “sell” rating and set a $19.00 price target on shares of ARMOUR Residential REIT in a research note on Tuesday, February 19th. Nomura initiated coverage on ARMOUR Residential REIT in a research note on Wednesday, March 27th. They set a “neutral” rating and a $20.00 price target for the company. TheStreet downgraded ARMOUR Residential REIT from a “c” rating to a “d” rating in a research note on Tuesday, February 19th. Finally, ValuEngine cut ARMOUR Residential REIT from a “hold” rating to a “sell” rating in a research report on Monday, April 1st. Two investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. ARMOUR Residential REIT presently has a consensus rating of “Hold” and a consensus target price of $20.67.
ARMOUR Residential REIT (NYSE:ARR) last released its quarterly earnings results on Wednesday, April 24th. The real estate investment trust reported $0.61 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.01). The firm had revenue of $33.81 million for the quarter. ARMOUR Residential REIT had a negative net margin of 85.58% and a positive return on equity of 10.14%. On average, equities research analysts anticipate that ARMOUR Residential REIT will post 2.5 earnings per share for the current year.
In related news, Chairman Daniel C. Staton acquired 12,863 shares of the stock in a transaction dated Friday, March 22nd. The shares were purchased at an average cost of $19.51 per share, with a total value of $250,957.13. Following the transaction, the chairman now directly owns 10,377 shares in the company, valued at $202,455.27. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Scott Ulm acquired 80,000 shares of the stock in a transaction dated Wednesday, May 22nd. The shares were bought at an average cost of $17.93 per share, for a total transaction of $1,434,400.00. Following the completion of the transaction, the chief executive officer now owns 120,764 shares in the company, valued at $2,165,298.52. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 107,363 shares of company stock worth $1,960,762. Insiders own 1.30% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. LS Investment Advisors LLC lifted its position in shares of ARMOUR Residential REIT by 44.4% during the 1st quarter. LS Investment Advisors LLC now owns 1,762 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 542 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new position in ARMOUR Residential REIT in the 1st quarter worth approximately $49,000. Pearl River Capital LLC purchased a new position in ARMOUR Residential REIT in the 4th quarter worth approximately $68,000. Flinton Capital Management LLC purchased a new position in ARMOUR Residential REIT in the 4th quarter worth approximately $75,000. Finally, Riverhead Capital Management LLC lifted its holdings in ARMOUR Residential REIT by 62.5% in the 1st quarter. Riverhead Capital Management LLC now owns 6,500 shares of the real estate investment trust’s stock worth $127,000 after purchasing an additional 2,500 shares in the last quarter. 62.17% of the stock is currently owned by hedge funds and other institutional investors.
ARMOUR Residential REIT Company Profile
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.
See Also: Return On Assets
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