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

ARMOUR Residential REIT, Inc. (NYSE:ARR) announced a monthly dividend on Wednesday, July 24th, Wall Street Journal reports. Shareholders of record on Thursday, August 15th will be given a dividend of 0.24 per share by the real estate investment trust on Thursday, August 29th. This represents a $2.88 annualized dividend and a yield of 13.93%. The ex-dividend date is Thursday, August 15th.

ARMOUR Residential REIT has a payout ratio of 71.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect ARMOUR Residential REIT to earn $3.85 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 74.8%.

ARMOUR Residential REIT Price Performance

NYSE:ARR traded down $0.67 during midday trading on Wednesday, reaching $20.68. The stock had a trading volume of 1,022,746 shares, compared to its average volume of 1,080,373. ARMOUR Residential REIT has a 1-year low of $13.31 and a 1-year high of $26.90. The firm’s fifty day simple moving average is $19.68 and its 200-day simple moving average is $19.30. The stock has a market capitalization of $1.01 billion, a P/E ratio of -29.06 and a beta of 1.51.

ARMOUR Residential REIT (NYSE:ARR) last issued its quarterly earnings results on Friday, April 26th. The real estate investment trust reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.22. ARMOUR Residential REIT had a negative net margin of 3.83% and a positive return on equity of 15.68%. The firm had revenue of $141.48 million during the quarter, compared to the consensus estimate of $39.60 million. On average, equities research analysts anticipate that ARMOUR Residential REIT will post 3.62 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ARR has been the subject of a number of research reports. Janney Montgomery Scott initiated coverage on shares of ARMOUR Residential REIT in a report on Thursday, June 6th. They issued a “neutral” rating and a $20.00 price target for the company. StockNews.com downgraded shares of ARMOUR Residential REIT from a “hold” rating to a “sell” rating in a report on Friday, April 5th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of ARMOUR Residential REIT in a report on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $19.50.

About ARMOUR Residential REIT

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.