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

ARMOUR Residential REIT, Inc. (NYSE:ARR) announced a monthly dividend on Wednesday, April 24th, Zacks reports. Investors of record on Wednesday, May 15th will be given a dividend of 0.24 per share by the real estate investment trust on Tuesday, May 28th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 15.82%. The ex-dividend date is Tuesday, May 14th.

ARMOUR Residential REIT has decreased its dividend by an average of 8.4% annually over the last three years. ARMOUR Residential REIT has a payout ratio of 64.1% 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

ARR stock opened at $18.21 on Friday. ARMOUR Residential REIT has a 52-week low of $13.31 and a 52-week high of $27.00. The company’s 50 day simple moving average is $19.03 and its 200-day simple moving average is $18.46. The firm has a market capitalization of $887.74 million, a P/E ratio of -9.53 and a beta of 1.48.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on ARR shares. JMP Securities restated a “market perform” rating on shares of ARMOUR Residential REIT in a report on Thursday, April 18th. StockNews.com lowered shares of ARMOUR Residential REIT from a “hold” rating to a “sell” rating in a report on Friday, April 5th.

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.