Advisors Asset Management Inc. Reduces Stock Position in ARMOUR Residential REIT, Inc. (NYSE:ARR)

Advisors Asset Management Inc. cut its stake in shares of ARMOUR Residential REIT, Inc. (NYSE:ARR) by 47.6% in the third quarter, Holdings Channel.com reports. The institutional investor owned 76,849 shares of the real estate investment trust’s stock after selling 69,695 shares during the quarter. Advisors Asset Management Inc.’s holdings in ARMOUR Residential REIT were worth $1,568,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Signaturefd LLC increased its position in ARMOUR Residential REIT by 67.8% during the third quarter. Signaturefd LLC now owns 1,374 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 555 shares during the last quarter. Parisi Gray Wealth Management lifted its stake in shares of ARMOUR Residential REIT by 6.0% in the 2nd quarter. Parisi Gray Wealth Management now owns 16,000 shares of the real estate investment trust’s stock worth $310,000 after purchasing an additional 900 shares during the period. Global Retirement Partners LLC boosted its holdings in shares of ARMOUR Residential REIT by 5.4% in the third quarter. Global Retirement Partners LLC now owns 28,941 shares of the real estate investment trust’s stock worth $590,000 after buying an additional 1,490 shares during the last quarter. Kovack Advisors Inc. grew its position in ARMOUR Residential REIT by 7.8% during the third quarter. Kovack Advisors Inc. now owns 20,858 shares of the real estate investment trust’s stock valued at $426,000 after buying an additional 1,513 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its holdings in ARMOUR Residential REIT by 6.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 27,496 shares of the real estate investment trust’s stock valued at $544,000 after buying an additional 1,707 shares during the last quarter. 54.17% of the stock is owned by institutional investors.

Insider Transactions at ARMOUR Residential REIT

In other news, Chairman Daniel C. Staton bought 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 3rd. The shares were bought at an average cost of $19.86 per share, for a total transaction of $198,600.00. Following the completion of the transaction, the chairman now owns 24,040 shares of the company’s stock, valued at approximately $477,434.40. This represents a 71.23 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Robert C. Hain purchased 2,500 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were purchased at an average price of $19.08 per share, with a total value of $47,700.00. Following the acquisition, the director now directly owns 9,023 shares in the company, valued at $172,158.84. This represents a 38.33 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.35% of the company’s stock.

ARMOUR Residential REIT Stock Performance

ARR opened at $18.83 on Tuesday. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of 7.97 and a beta of 1.51. The firm’s fifty day moving average is $19.59 and its 200 day moving average is $19.80. ARMOUR Residential REIT, Inc. has a fifty-two week low of $16.79 and a fifty-two week high of $21.93.

ARMOUR Residential REIT (NYSE:ARR) last released its quarterly earnings data on Wednesday, October 23rd. The real estate investment trust reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.01. The firm had revenue of $127.06 million during the quarter, compared to analyst estimates of $10.95 million. ARMOUR Residential REIT had a return on equity of 16.76% and a net margin of 24.17%. On average, equities research analysts predict that ARMOUR Residential REIT, Inc. will post 3.86 earnings per share for the current year.

ARMOUR Residential REIT Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Friday, November 15th will be given a dividend of $0.24 per share. This represents a $2.88 annualized dividend and a dividend yield of 15.30%. The ex-dividend date is Friday, November 15th. ARMOUR Residential REIT’s payout ratio is currently 122.03%.

Analyst Ratings Changes

ARR has been the subject of a number of recent research reports. StockNews.com raised shares of ARMOUR Residential REIT from a “sell” rating to a “hold” rating in a research report on Friday, October 25th. B. Riley upped their price target on ARMOUR Residential REIT from $20.00 to $21.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of ARMOUR Residential REIT in a research note on Wednesday, August 28th. Five analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $19.83.

About ARMOUR Residential REIT

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.