PNC Financial Services Group Inc. trimmed its stake in ARMOUR Residential REIT, Inc. (NYSE:ARR) by 0.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 88,293 shares of the real estate investment trust’s stock after selling 25 shares during the quarter. PNC Financial Services Group Inc. owned about 0.21% of ARMOUR Residential REIT worth $2,207,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in ARR. IFP Advisors Inc grew its position in ARMOUR Residential REIT by 1.1% during the second quarter. IFP Advisors Inc now owns 6,484 shares of the real estate investment trust’s stock valued at $162,000 after acquiring an additional 69 shares during the period. Legal & General Group Plc increased its stake in ARMOUR Residential REIT by 3.2% during the second quarter. Legal & General Group Plc now owns 11,643 shares of the real estate investment trust’s stock worth $292,000 after acquiring an additional 364 shares during the last quarter. American International Group Inc. increased its stake in ARMOUR Residential REIT by 7.0% during the first quarter. American International Group Inc. now owns 22,617 shares of the real estate investment trust’s stock worth $514,000 after acquiring an additional 1,482 shares during the last quarter. Swiss National Bank raised its holdings in shares of ARMOUR Residential REIT by 2.9% in the 1st quarter. Swiss National Bank now owns 60,512 shares of the real estate investment trust’s stock worth $1,374,000 after purchasing an additional 1,700 shares during the period. Finally, Mackenzie Financial Corp raised its holdings in shares of ARMOUR Residential REIT by 5.3% in the 1st quarter. Mackenzie Financial Corp now owns 45,252 shares of the real estate investment trust’s stock worth $1,028,000 after purchasing an additional 2,296 shares during the period. Hedge funds and other institutional investors own 46.07% of the company’s stock.

ARMOUR Residential REIT, Inc. (NYSE ARR) opened at 27.21 on Tuesday. ARMOUR Residential REIT, Inc. has a 52 week low of $20.29 and a 52 week high of $27.60. The stock has a market cap of $1.12 billion, a P/E ratio of 3.58 and a beta of 0.77. The stock has a 50 day moving average of $26.45 and a 200-day moving average of $25.31.

ARMOUR Residential REIT (NYSE:ARR) last released its quarterly earnings data on Wednesday, July 26th. The real estate investment trust reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.07. ARMOUR Residential REIT had a return on equity of 9.26% and a net margin of 114.11%. The firm had revenue of $39.06 million during the quarter, compared to analysts’ expectations of $34.53 million. During the same quarter last year, the firm earned $0.63 earnings per share. Analysts forecast that ARMOUR Residential REIT, Inc. will post $2.67 earnings per share for the current year.

The company also recently announced a monthly dividend, which will be paid on Friday, October 27th. Shareholders of record on Monday, October 16th will be given a $0.19 dividend. This represents a $2.28 annualized dividend and a yield of 8.38%. The ex-dividend date of this dividend is Friday, October 13th. ARMOUR Residential REIT’s payout ratio is currently 30.00%.

Several research firms have recently weighed in on ARR. ValuEngine raised ARMOUR Residential REIT from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. BidaskClub downgraded shares of ARMOUR Residential REIT from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 30th. Two analysts have rated the stock with a hold rating and two have given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $24.50.

COPYRIGHT VIOLATION WARNING: “ARMOUR Residential REIT, Inc. (ARR) Shares Sold by PNC Financial Services Group Inc.” was first posted by Watch List News and is the property of of Watch List News. If you are accessing this piece of content on another domain, it was stolen and reposted in violation of United States and international trademark & copyright law. The legal version of this piece of content can be read at https://www.watchlistnews.com/armour-residential-reit-inc-arr-shares-sold-by-pnc-financial-services-group-inc/1604806.html.

In other news, COO Mark Gruber purchased 2,000 shares of the business’s stock in a transaction dated Monday, July 31st. The stock was bought at an average cost of $25.33 per share, with a total value of $50,660.00. Following the purchase, the chief operating officer now directly owns 15,619 shares of the company’s stock, valued at $395,629.27. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.50% of the company’s stock.

ARMOUR Residential REIT Profile

ARMOUR Residential REIT, Inc is a real estate investment trust. The Company invests in and manages a leveraged portfolio of mortgage-backed securities (MBS) and mortgage loans. The Company invests in residential mortgage backed securities issued or guaranteed by a United States Government-sponsored enterprise (GSE), such as the Federal National Mortgage Association or the Federal Home Loan Mortgage Corporation, or a government agency, such as the Government National Mortgage Association (collectively, Agency Securities).

Want to see what other hedge funds are holding ARR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ARMOUR Residential REIT, Inc. (NYSE:ARR).

Institutional Ownership by Quarter for ARMOUR Residential REIT (NYSE:ARR)

Receive News & Ratings for ARMOUR Residential REIT Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ARMOUR Residential REIT Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.