Kovack Advisors Inc. Increases Stock Position in ARMOUR Residential REIT, Inc. (NYSE:ARR)

Kovack Advisors Inc. lifted its holdings in ARMOUR Residential REIT, Inc. (NYSE:ARR) by 7.8% during the third quarter, Holdings Channel reports. The institutional investor owned 20,858 shares of the real estate investment trust’s stock after acquiring an additional 1,513 shares during the quarter. Kovack Advisors Inc.’s holdings in ARMOUR Residential REIT were worth $426,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of ARR. Signaturefd LLC boosted its stake 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 worth $28,000 after acquiring an additional 555 shares in the last quarter. Summit Securities Group LLC purchased a new stake in shares of ARMOUR Residential REIT in the 2nd quarter worth approximately $99,000. US Bancorp DE increased its position in ARMOUR Residential REIT by 304.3% during the 3rd quarter. US Bancorp DE now owns 6,720 shares of the real estate investment trust’s stock valued at $137,000 after buying an additional 5,058 shares in the last quarter. Squarepoint Ops LLC bought a new stake in ARMOUR Residential REIT in the second quarter worth $221,000. Finally, Creative Planning grew its stake in shares of ARMOUR Residential REIT by 19.7% in the third quarter. Creative Planning now owns 14,057 shares of the real estate investment trust’s stock worth $287,000 after acquiring an additional 2,311 shares during the last quarter. 54.17% of the stock is currently owned by institutional investors.

ARMOUR Residential REIT Trading Down 0.3 %

ARR opened at $18.96 on Friday. The company has a market capitalization of $1.06 billion, a PE ratio of 8.03 and a beta of 1.51. The firm’s 50 day simple moving average is $19.81 and its two-hundred day simple moving average is $19.79. ARMOUR Residential REIT, Inc. has a 1-year low of $16.45 and a 1-year high of $21.93.

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

ARMOUR Residential REIT Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.24 per share. This represents a $2.88 annualized dividend and a yield of 15.19%. The ex-dividend date is Friday, November 15th. ARMOUR Residential REIT’s dividend payout ratio is currently 122.03%.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. JMP Securities reaffirmed a “market perform” rating on shares of ARMOUR Residential REIT in a report on Wednesday, August 28th. B. Riley upped their price objective on ARMOUR Residential REIT from $20.00 to $21.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Finally, StockNews.com upgraded ARMOUR Residential REIT from a “sell” rating to a “hold” rating in a report on Friday, October 25th. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $19.83.

Insiders Place Their Bets

In other ARMOUR Residential REIT news, Director Robert C. Hain acquired 2,500 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was purchased at an average price of $19.08 per share, with a total value of $47,700.00. Following the completion of the purchase, the director now directly owns 9,023 shares in the company, valued at approximately $172,158.84. The trade was a 38.33 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 acquired at an average cost of $19.86 per share, for a total transaction of $198,600.00. Following the purchase, the chairman now directly owns 24,040 shares in the company, valued at $477,434.40. This trade represents a 71.23 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.35% of the company’s stock.

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.