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

ARMOUR Residential REIT, Inc. (NYSE:ARR) declared a monthly dividend on Tuesday, March 25th, Wall Street Journal reports. Investors of record on Tuesday, April 15th will be paid a dividend of 0.24 per share by the real estate investment trust on Tuesday, April 29th. This represents a $2.88 dividend on an annualized basis and a yield of 16.32%. The ex-dividend date is Tuesday, April 15th.

ARMOUR Residential REIT has a dividend payout ratio of 76.8% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. 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 Trading Down 2.8 %

NYSE:ARR opened at $17.65 on Thursday. ARMOUR Residential REIT has a 1-year low of $17.35 and a 1-year high of $21.93. The stock has a 50 day simple moving average of $18.75 and a 200 day simple moving average of $19.14. The stock has a market cap of $1.77 billion, a P/E ratio of -41.03 and a beta of 1.53.

Insider Activity at ARMOUR Residential REIT

In other ARMOUR Residential REIT news, Director Stewart J. Paperin sold 24,852 shares of the stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $18.78, for a total transaction of $466,720.56. Following the completion of the transaction, the director now owns 363 shares of the company’s stock, valued at $6,817.14. This represents a 98.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert C. Hain sold 2,500 shares of the stock in a transaction on Monday, January 13th. The shares were sold at an average price of $18.07, for a total transaction of $45,175.00. Following the completion of the sale, the director now directly owns 6,793 shares in the company, valued at approximately $122,749.51. This represents a 26.90 % decrease in their position. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by insiders.

Analysts Set New Price Targets

ARR has been the subject of a number of recent analyst reports. JMP Securities reissued a “market perform” rating on shares of ARMOUR Residential REIT in a research report on Thursday, January 23rd. BTIG Research started coverage on ARMOUR Residential REIT in a research report on Monday, February 10th. They issued a “neutral” rating on the stock. StockNews.com lowered ARMOUR Residential REIT from a “hold” rating to a “sell” rating in a report on Friday, February 14th. Finally, B. Riley raised ARMOUR Residential REIT to a “hold” rating in a research note on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. Based on data from MarketBeat.com, ARMOUR Residential REIT has an average rating of “Hold” and an average target price of $20.50.

ARMOUR Residential REIT Company Profile

ARMOUR Residential REIT, Inc invests in residential mortgage-backed securities (MBS) in the United States. 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; and unsecured notes and bonds issued by the GSE and the United States treasuries, as well as money market instruments.