Brokerages Set ARMOUR Residential REIT, Inc. (NYSE:ARR) Target Price at $17.37

ARMOUR Residential REIT, Inc. (NYSE:ARR) has been given a consensus recommendation of “Hold” by the ten ratings firms that are presently covering the firm, Market Beat Ratings reports. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $17.37.

ARR has been the topic of a number of research analyst reports. National Securities dropped their price target on ARMOUR Residential REIT from $32.00 to $24.00 and set a “neutral” rating on the stock in a research note on Thursday, September 17th. Zacks Investment Research lowered ARMOUR Residential REIT from a “buy” rating to a “hold” rating in a research note on Wednesday, November 18th. Barclays dropped their price target on ARMOUR Residential REIT from $25.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 10th. Nomura reaffirmed a “hold” rating and set a $23.00 target price on shares of ARMOUR Residential REIT in a report on Monday, November 16th. Finally, Keefe, Bruyette & Woods decreased their target price on ARMOUR Residential REIT from $27.00 to $25.00 and set a “market perform” rating for the company in a report on Monday, November 16th.

Shares of ARMOUR Residential REIT (NYSE:ARR) traded down 0.64% during midday trading on Monday, reaching $21.62. 224,469 shares of the company’s stock were exchanged. The stock’s market cap is $861.30 million. ARMOUR Residential REIT has a one year low of $19.48 and a one year high of $29.92. The company’s 50-day moving average is $21.03 and its 200-day moving average is $21.50.

ARMOUR Residential REIT (NYSE:ARR) last issued its quarterly earnings results on Friday, November 6th. The company reported $1.11 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.12. During the same period in the previous year, the business posted $0.14 EPS. Equities analysts expect that ARMOUR Residential REIT will post $3.50 earnings per share for the current fiscal year.

The company also recently announced a monthly dividend, which was paid on Wednesday, December 30th. Investors of record on Wednesday, December 16th were issued a dividend of $0.33 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 18.20%. The ex-dividend date of this dividend was Monday, December 14th.

12 Month Chart for NYSE:ARR

ARMOUR Residential REIT, Inc. (NYSE:ARR) is an externally managed real estate investment trust (REIT). The Company invests in residential mortgage backed securities. The Company’s securities portfolio consists primarily of Agency Securities backed by fixed rate home loans. The Company is authorized to invest in Agency Securities and Non-Agency Securities backed by fixed rate, hybrid adjustable rate and adjustable rate home loans, as well as unsecured notes and bonds issued by United States Government-sponsored entity (GSE) Treasuries and money market instruments. The Company’s investment securities are issued or guaranteed by the United States Government-sponsored entity, such as the Federal National Mortgage Association (Fannie Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac), or guaranteed by the Government National Mortgage Administration (Ginnie Mae). The Company is externally managed by ARMOUR Capital Management LP (ACM), an investment advisor.

 

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