ARMOUR Residential REIT, Inc. (NYSE:ARR) declared a monthly dividend on Tuesday, September 25th, Wall Street Journal reports. Shareholders of record on Monday, October 15th will be paid a dividend of 0.19 per share by the real estate investment trust on Monday, October 29th. This represents a $2.28 dividend on an annualized basis and a yield of 10.26%. The ex-dividend date is Friday, October 12th.
ARMOUR Residential REIT has decreased its dividend payment by an average of 22.0% annually over the last three years and has raised its dividend annually for the last 3 consecutive years. ARMOUR Residential REIT has a payout ratio of 93.1% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities research analysts expect ARMOUR Residential REIT to earn $2.40 per share next year, which means the company should continue to be able to cover its $2.28 annual dividend with an expected future payout ratio of 95.0%.
ARR traded up $0.41 during midday trading on Wednesday, reaching $22.22. 25,620 shares of the company’s stock were exchanged, compared to its average volume of 451,859. The stock has a market cap of $941.29 million, a price-to-earnings ratio of 8.39 and a beta of 0.61. ARMOUR Residential REIT has a one year low of $21.40 and a one year high of $27.29.
ARMOUR Residential REIT (NYSE:ARR) last issued its quarterly earnings results on Wednesday, July 25th. The real estate investment trust reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.05. The business had revenue of $22.91 million during the quarter. ARMOUR Residential REIT had a net margin of 48.96% and a return on equity of 9.76%. On average, analysts expect that ARMOUR Residential REIT will post 2.45 earnings per share for the current fiscal year.
In other ARMOUR Residential REIT news, Director Robert C. Hain sold 1,500 shares of ARMOUR Residential REIT stock in a transaction on Tuesday, August 7th. The shares were sold at an average price of $23.57, for a total transaction of $35,355.00. Following the completion of the sale, the director now owns 1,431 shares of the company’s stock, valued at approximately $33,728.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.60% of the stock is currently owned by insiders.
A number of analysts recently weighed in on the stock. ValuEngine raised shares of ARMOUR Residential REIT from a “sell” rating to a “hold” rating in a report on Thursday, July 5th. Barclays set a $21.00 target price on shares of ARMOUR Residential REIT and gave the stock a “sell” rating in a report on Saturday, July 28th.
About ARMOUR Residential REIT
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.
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