Zacks Investment Research Upgrades ARMOUR Residential REIT (NYSE: ARR) to Strong-Buy


Zacks Investment Research upgraded shares of ARMOUR Residential REIT (NYSE: ARR – Get Rating) from a hold rating to a strong-buy rating in a research note released on Tuesday morning, Zacks.com reports. They currently have $ 8.50 target price on the real estate investment trust’s stock.

According to Zacks, “ARMOR Residential REIT, Inc. invests primarily in residential mortgage-backed securities issued or guaranteed by a United States Government-chartered entity. “

ARR has been the topic of several other research reports. Credit Suisse Group reduced their target price on shares of ARMOR Residential REIT from $ 10.00 to $ 9.00 and set a neutral rating on the stock in a research note on Thursday, March 10th. B. Riley reduced their target price on shares of ARMOR Residential REIT from $ 11.00 to $ 9.50 and set a neutral rating on the stock in a research note on Tuesday, February 22nd. StockNews.com assumed coverage on shares of ARMOR Residential REIT in a research note on Thursday, March 31st. They issued a sell rating on the stock. Finally, Barclays reduced their target price on shares of ARMOR Residential REIT from $ 9.00 to $ 8.00 in a research note on Wednesday, April 27th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of Hold and a consensus target price of $ 8.75.

Shares of ARMOR Residential REIT stock opened at $ 7.52 on Tuesday. The firm has a market capitalization of $ 775.84 million, a PE ratio of -4.64 and a beta of 0.99. The company’s fifty day moving average price is $ 8.12 and its two-hundred day moving average price is $ 9.23. ARMOUR Residential REIT has a 52-week low of $ 7.14 and a 52-week high of $ 12.44.

ARMOUR Residential REIT (NYSE: ARR – Get Rating) last issued its earnings results on Wednesday, April 27th. The real estate investment trust reported $ 0.28 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $ 0.25 by $ 0.03. ARMOR Residential REIT had a negative net margin of 128.09% and a positive return on equity of 8.60%. As a group, sell-side analysts forecast that ARMOR Residential REIT will post 1.05 EPS for the current year.

The business also recently disclosed a monthly dividend, which will be paid on Friday, May 27th. Shareholders of record on Monday, May 16th will be given a $ 0.10 dividend. This represents a $ 1.20 annualized dividend and a yield of 15.96%. The ex-dividend date is Friday, May 13th. ARMOUR Residential REIT’s payout ratio is presently -74.07%.

A number of institutional investors and hedge funds have recently bought and sold shares of ARR. Meeder Asset Management Inc. increased its position in ARMOR Residential REIT by 50.6% in the 3rd quarter. Meeder Asset Management Inc. now owns 3,108 shares of the real estate investment trust’s stock valued at $ 34,000 after acquiring an additional 1,044 shares in the last quarter. Penserra Capital Management LLC acquired a new stake in ARMOR Residential REIT in the 3rd quarter valued at about $ 83,000. Profund Advisors LLC acquired a new stake in ARMOR Residential REIT in the 4th quarter valued at about $ 98,000. Guggenheim Capital LLC acquired a new stake in shares of ARMOR Residential REIT during the 4th quarter worth approximately $ 110,000. Finally, CIBC Asset Management Inc acquired a new stake in shares of ARMOUR Residential REIT during the 4th quarter worth approximately $ 111,000. Hedge funds and other institutional investors own 51.92% of the company’s stock.

About ARMOUR Residential REIT (Get Rating)

ARMOR Residential REIT, Inc invests in residential mortgage-backed securities (MBS) in the United States. The company’s 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, as well as money market instruments.

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