ARMOUR Residential REIT, Inc. (NYSE:ARR) to Issue Monthly Dividend of $0.24

ARMOUR Residential REIT, Inc. (NYSE:ARR) announced a monthly dividend on Wednesday, February 12th,Wall Street Journal reports. Shareholders of record on Monday, March 17th will be given a dividend of 0.24 per share by the real estate investment trust on Thursday, March 27th. This represents a $2.88 annualized dividend and a yield of 15.21%. The ex-dividend date of this dividend is Monday, March 17th.

ARMOUR Residential REIT has a payout ratio of 63.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect ARMOUR Residential REIT to earn $4.11 per share next year, which means the company should continue to be able to cover its $2.88 annual dividend with an expected future payout ratio of 70.1%.

ARMOUR Residential REIT Price Performance

Shares of ARR stock traded down $0.13 during trading hours on Wednesday, reaching $18.93. 3,171,168 shares of the company were exchanged, compared to its average volume of 2,190,485. The company has a market cap of $1.06 billion, a price-to-earnings ratio of 8.02 and a beta of 1.48. The stock’s fifty day moving average is $18.82 and its two-hundred day moving average is $19.45. ARMOUR Residential REIT has a fifty-two week low of $17.35 and a fifty-two week high of $21.93.

Wall Street Analyst Weigh In

Several research analysts have issued reports on ARR shares. BTIG Research initiated coverage on ARMOUR Residential REIT in a report on Monday. They set a “neutral” rating on the stock. StockNews.com raised ARMOUR Residential REIT from a “sell” rating to a “hold” rating in a research note on Friday, October 25th. B. Riley upgraded ARMOUR Residential REIT to a “hold” rating in a research report on Tuesday, January 7th. Finally, JMP Securities restated a “market perform” rating on shares of ARMOUR Residential REIT in a research report on Thursday, January 23rd. Five analysts have rated the stock with a hold rating, According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $20.50.

Insider Activity

In other ARMOUR Residential REIT news, Director Stewart J. Paperin sold 24,852 shares of the company’s stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $18.78, for a total value of $466,720.56. Following the completion of the sale, the director now owns 363 shares of the company’s stock, valued at approximately $6,817.14. This represents a 98.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert C. Hain sold 2,500 shares of the stock in a transaction on Monday, January 13th. The stock was sold at an average price of $18.07, for a total transaction of $45,175.00. Following the completion of the sale, the director now owns 6,793 shares in the company, valued at approximately $122,749.51. This trade represents a 26.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by company insiders.

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.