ARMOUR Residential REIT (NYSE:ARR) Upgraded by StockNews.com to Hold

ARMOUR Residential REIT (NYSE:ARR - Get Free Report) was upgraded by equities researchers at StockNews.com from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Tuesday.

ARR has been the topic of a number of other reports. B. Riley boosted their target price on ARMOUR Residential REIT from $20.00 to $21.00 and gave the stock a "neutral" rating in a report on Monday, July 29th. Janney Montgomery Scott initiated coverage on ARMOUR Residential REIT in a report on Thursday, June 6th. They set a "neutral" rating and a $20.00 target price on the stock. Finally, JMP Securities reissued a "market perform" rating on shares of ARMOUR Residential REIT in a report on Thursday, April 18th. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $19.83.

ARMOUR Residential REIT Stock Performance

NYSE ARR traded down $0.11 during trading on Tuesday, hitting $19.98. The stock had a trading volume of 1,236,423 shares, compared to its average volume of 1,100,653. The company has a market capitalization of $973.82 million, a PE ratio of -27.74 and a beta of 1.51. ARMOUR Residential REIT has a 12 month low of $13.31 and a 12 month high of $25.40. The company's 50-day moving average price is $20.01 and its two-hundred day moving average price is $19.38.

ARMOUR Residential REIT (NYSE:ARR - Get Free Report) last posted its quarterly earnings results on Wednesday, July 24th. The real estate investment trust reported $1.08 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.09. The firm had revenue of $129.93 million for the quarter, compared to analyst estimates of $28.47 million. ARMOUR Residential REIT had a positive return on equity of 16.64% and a negative net margin of 19.85%. As a group, equities analysts anticipate that ARMOUR Residential REIT will post 3.81 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ARMOUR Residential REIT

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Wolverine Asset Management LLC bought a new stake in ARMOUR Residential REIT during the 4th quarter worth approximately $6,913,000. Van ECK Associates Corp lifted its position in shares of ARMOUR Residential REIT by 15.8% during the 2nd quarter. Van ECK Associates Corp now owns 349,241 shares of the real estate investment trust's stock valued at $6,768,000 after acquiring an additional 47,735 shares during the period. Bank of New York Mellon Corp lifted its position in shares of ARMOUR Residential REIT by 2.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 338,652 shares of the real estate investment trust's stock valued at $6,563,000 after acquiring an additional 6,509 shares during the period. Rhumbline Advisers lifted its position in shares of ARMOUR Residential REIT by 4.2% during the 2nd quarter. Rhumbline Advisers now owns 149,834 shares of the real estate investment trust's stock valued at $2,904,000 after acquiring an additional 6,088 shares during the period. Finally, LifePro Asset Management acquired a new position in shares of ARMOUR Residential REIT during the 2nd quarter valued at $2,035,000. 54.17% of the stock is owned by institutional investors.

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.

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