LSV Asset Management boosted its stake in shares of ARMOUR Residential REIT (NYSE:ARR) by 17.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 679,896 shares of the real estate investment trust’s stock after purchasing an additional 101,199 shares during the period. LSV Asset Management owned approximately 1.62% of ARMOUR Residential REIT worth $15,827,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Fox Run Management L.L.C. acquired a new stake in ARMOUR Residential REIT during the 4th quarter valued at approximately $234,000. Quantitative Systematic Strategies LLC acquired a new stake in ARMOUR Residential REIT during the 4th quarter valued at approximately $270,000. Crossmark Global Holdings Inc. lifted its stake in ARMOUR Residential REIT by 42.8% during the 4th quarter. Crossmark Global Holdings Inc. now owns 11,280 shares of the real estate investment trust’s stock valued at $290,000 after acquiring an additional 3,380 shares during the period. Teacher Retirement System of Texas acquired a new stake in ARMOUR Residential REIT during the 4th quarter valued at approximately $367,000. Finally, Aperio Group LLC lifted its stake in ARMOUR Residential REIT by 19.9% during the 4th quarter. Aperio Group LLC now owns 14,387 shares of the real estate investment trust’s stock valued at $370,000 after acquiring an additional 2,388 shares during the period. 59.27% of the stock is currently owned by institutional investors.
ARMOUR Residential REIT opened at $22.53 on Friday, according to Marketbeat Ratings. ARMOUR Residential REIT has a 1 year low of $22.45 and a 1 year high of $22.53. The firm has a market capitalization of $943.65 million, a P/E ratio of 8.60 and a beta of 0.54.
ARMOUR Residential REIT (NYSE:ARR) last posted its earnings results on Monday, April 30th. The real estate investment trust reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.03. ARMOUR Residential REIT had a net margin of 53.83% and a return on equity of 9.16%. The firm had revenue of $54.21 million during the quarter. research analysts anticipate that ARMOUR Residential REIT will post 2.45 earnings per share for the current year.
The company also recently announced a monthly dividend, which will be paid on Wednesday, May 30th. Investors of record on Tuesday, May 15th will be paid a $0.19 dividend. This represents a $2.28 annualized dividend and a dividend yield of 10.12%. The ex-dividend date of this dividend is Monday, May 14th. ARMOUR Residential REIT’s dividend payout ratio is currently 87.02%.
In other news, CEO Jeffrey J. Zimmer bought 6,500 shares of the firm’s stock in a transaction that occurred on Friday, March 9th. The stock was purchased at an average cost of $22.52 per share, for a total transaction of $146,380.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Mark Gruber bought 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was purchased at an average price of $22.70 per share, with a total value of $45,400.00. Following the completion of the purchase, the chief operating officer now owns 22,300 shares in the company, valued at $506,210. The disclosure for this purchase can be found here. Insiders own 1.60% of the company’s stock.
Several brokerages have commented on ARR. ValuEngine cut shares of ARMOUR Residential REIT from a “buy” rating to a “hold” rating in a research note on Wednesday, May 2nd. Barclays decreased their price objective on shares of ARMOUR Residential REIT from $24.00 to $22.00 and set an “underweight” rating for the company in a research note on Friday, April 27th. Finally, Zacks Investment Research cut shares of ARMOUR Residential REIT from a “buy” rating to a “hold” rating in a research note on Wednesday, April 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $24.00.
ARMOUR Residential REIT 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.
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