Citigroup Inc. increased its position in shares of ARMOUR Residential REIT, Inc. (NYSE:ARR) by 6.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 91,290 shares of the real estate investment trust’s stock after purchasing an additional 5,694 shares during the period. Citigroup Inc. owned 0.22% of ARMOUR Residential REIT worth $1,872,000 at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of ARR. Russell Investments Group Ltd. acquired a new position in ARMOUR Residential REIT in the third quarter valued at $280,000. Vanguard Group Inc boosted its stake in ARMOUR Residential REIT by 1.1% in the third quarter. Vanguard Group Inc now owns 4,018,767 shares of the real estate investment trust’s stock valued at $90,221,000 after acquiring an additional 41,856 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in ARMOUR Residential REIT in the third quarter valued at $21,837,000. Commonwealth Bank of Australia acquired a new position in ARMOUR Residential REIT in the third quarter valued at $572,000. Finally, Renaissance Technologies LLC boosted its stake in ARMOUR Residential REIT by 65.7% in the third quarter. Renaissance Technologies LLC now owns 171,521 shares of the real estate investment trust’s stock valued at $3,851,000 after acquiring an additional 68,000 shares in the last quarter. Hedge funds and other institutional investors own 49.92% of the company’s stock.
In other ARMOUR Residential REIT news, CFO James R. Mountain bought 1,500 shares of ARMOUR Residential REIT stock in a transaction dated Tuesday, March 5th. The stock was acquired at an average cost of $19.77 per share, with a total value of $29,655.00. Following the completion of the acquisition, the chief financial officer now owns 41,000 shares of the company’s stock, valued at $810,570. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.60% of the stock is currently owned by corporate insiders.
NYSE ARR opened at $19.82 on Thursday. ARMOUR Residential REIT, Inc. has a 1 year low of $19.32 and a 1 year high of $24.07. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of 7.34 and a beta of 0.62.
ARMOUR Residential REIT (NYSE:ARR) last released its quarterly earnings data on Thursday, February 14th. The real estate investment trust reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.02. ARMOUR Residential REIT had a negative net margin of 37.42% and a positive return on equity of 10.59%. Equities research analysts forecast that ARMOUR Residential REIT, Inc. will post 2.55 EPS for the current fiscal year.
The firm also recently announced a monthly dividend, which will be paid on Wednesday, March 27th. Stockholders of record on Friday, March 15th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 11.50%. ARMOUR Residential REIT’s payout ratio is 91.20%.
ARR has been the subject of several research analyst reports. Zacks Investment Research upgraded shares of ARMOUR Residential REIT from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a research note on Wednesday, February 20th. TheStreet downgraded shares of ARMOUR Residential REIT from a “c” rating to a “d” rating in a research note on Tuesday, February 19th. Finally, Barclays restated a “sell” rating and issued a $19.00 price objective on shares of ARMOUR Residential REIT in a research note on Tuesday, February 19th.
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ARMOUR Residential REIT 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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