Royal Bank of Canada Sells 62,053 Shares of ARMOUR Residential REIT, Inc. $ARR

Royal Bank of Canada lowered its position in shares of ARMOUR Residential REIT, Inc. (NYSE:ARR) by 62.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 36,543 shares of the real estate investment trust’s stock after selling 62,053 shares during the quarter. Royal Bank of Canada’s holdings in ARMOUR Residential REIT were worth $610,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in ARR. Quarry LP raised its holdings in shares of ARMOUR Residential REIT by 620.6% in the third quarter. Quarry LP now owns 1,823 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 1,570 shares during the last quarter. Allworth Financial LP boosted its holdings in ARMOUR Residential REIT by 40.7% during the fourth quarter. Allworth Financial LP now owns 2,369 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 685 shares during the last quarter. Danske Bank A S acquired a new position in ARMOUR Residential REIT during the third quarter worth $42,000. Raymond James Financial Inc. acquired a new position in ARMOUR Residential REIT during the second quarter worth $55,000. Finally, Russell Investments Group Ltd. grew its position in ARMOUR Residential REIT by 80.9% in the second quarter. Russell Investments Group Ltd. now owns 3,289 shares of the real estate investment trust’s stock valued at $55,000 after purchasing an additional 1,471 shares in the last quarter. 54.17% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ARR has been the topic of several recent research reports. Weiss Ratings lowered shares of ARMOUR Residential REIT from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, August 19th. Zacks Research upgraded shares of ARMOUR Residential REIT from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 21st. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $18.50.

ARMOUR Residential REIT Stock Up 0.2%

ARR stock opened at $16.37 on Tuesday. The company has a market cap of $2.32 billion, a price-to-earnings ratio of 4.40 and a beta of 1.37. ARMOUR Residential REIT, Inc. has a twelve month low of $13.98 and a twelve month high of $19.31. The business has a 50 day moving average price of $16.73 and a two-hundred day moving average price of $17.08.

ARMOUR Residential REIT (NYSE:ARR) last announced its quarterly earnings data on Wednesday, July 22nd. The real estate investment trust reported $0.72 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.72. The company had revenue of $113.29 million for the quarter, compared to analysts’ expectations of $111.98 million. ARMOUR Residential REIT had a return on equity of 15.10% and a net margin of 44.90%. On average, equities research analysts anticipate that ARMOUR Residential REIT, Inc. will post 2.93 EPS for the current fiscal year.

ARMOUR Residential REIT Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, August 28th. Investors of record on Monday, August 17th will be issued a dividend of $0.24 per share. This represents a c) dividend on an annualized basis and a yield of 17.6%. The ex-dividend date is Monday, August 17th. ARMOUR Residential REIT’s payout ratio is presently 77.42%.

ARMOUR Residential REIT Profile

ARMOUR Residential REIT (NYSE:ARR) is a mortgage real estate investment trust that was formed in 2008 to acquire and manage a portfolio of residential mortgage-backed securities (RMBS). The company’s investments are primarily agency-sponsored and agency-guaranteed RMBS issued by U.S. government-sponsored enterprises, along with credit risk transfer securities and select non-agency residential and multifamily RMBS. By focusing on high-quality mortgage assets, ARMOUR Residential REIT seeks to generate stable income and preserve capital through diversified exposure to the U.S.