ARMOUR Residential REIT, Inc. (NYSE:ARR) declared a monthly dividend on Wednesday, May 30th, Wall Street Journal reports. Investors of record on Friday, June 15th will be paid a dividend of 0.19 per share by the real estate investment trust on Thursday, June 28th. This represents a $2.28 annualized dividend and a dividend yield of 9.92%. The ex-dividend date is Thursday, June 14th.
ARMOUR Residential REIT has decreased its dividend payment by an average of 22.0% per year over the last three years and has raised its dividend annually for the last 3 consecutive years. ARMOUR Residential REIT has a payout ratio of 84.8% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities research analysts expect ARMOUR Residential REIT to earn $2.40 per share next year, which means the company should continue to be able to cover its $2.28 annual dividend with an expected future payout ratio of 95.0%.
Shares of ARMOUR Residential REIT opened at $22.98 on Friday, according to MarketBeat Ratings. The company has a market cap of $960.83 million, a P/E ratio of 8.77 and a beta of 0.60. ARMOUR Residential REIT has a 1 year low of $21.40 and a 1 year high of $27.55.
ARMOUR Residential REIT (NYSE:ARR) last announced its quarterly earnings data 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. The business had revenue of $54.21 million for the quarter. ARMOUR Residential REIT had a net margin of 53.83% and a return on equity of 9.16%. research analysts forecast that ARMOUR Residential REIT will post 2.45 EPS for the current fiscal year.
Several equities analysts recently issued reports on ARR shares. Zacks Investment Research raised shares of ARMOUR Residential REIT from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a research note on Wednesday, March 21st. Barclays reduced their price objective on shares of ARMOUR Residential REIT from $24.00 to $22.00 and set an “underweight” rating on the stock in a research note on Friday, April 27th. Finally, ValuEngine downgraded shares of ARMOUR Residential REIT from a “buy” rating to a “hold” rating in a research note on Wednesday, May 2nd.
ARMOUR Residential REIT Company 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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