ARMOUR Residential REIT, Inc.
 (ARR)

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  • Mon, Feb. 1, 10:41 AM
    • Alongside its upgrade of ZAIS Financial, Barclays downgrades Armour Residential (ARR -3.9%) to Underweight from Equal Weight. The price target is cut to $19 from $23 (current price is $18.81).
    • A perennial underperformer, Armour trades at a 35% discount to Sept. 30 book value.
    • Previously: Barclays buys the dip in ZAIS Financial (Feb. 1)
    | Mon, Feb. 1, 10:41 AM | 3 Comments
  • Thu, Jan. 28, 5:58 AM
    • ARMOUR Residential REIT (NYSE:ARR) declares $0.33/share monthly dividend, in line with previous.
    • Forward yield 21.36%
    • Payable Feb. 26; for shareholders of record Feb. 15; ex-div Feb. 11.
    | Thu, Jan. 28, 5:58 AM | 8 Comments
  • Wed, Jan. 20, 10:44 AM
    • The discounts to book values across the sector have grown to such high levels that one wonders whether it just makes more sense for many of these players to liquidate the portfolios and return the money to the shareholders.
    • Sector giants Annaly Capital (NLY -4.9%) and American Capital Agency (AGNC -4.6%) are selling at 30% discounts to their most recent book value.
    • Armour Residential (ARR -8.3%), Invesco Mortgage (IVR -7%), Hatteras Financial (HTS -5%), New York Mortgage (NYMT -9.5%), Apollo Residential (AMTG -6.4%), AG Mortgage (MITT -7.2%), Anworth (ANH -6.3%), Arlington Asset (AI -8.7%), and Five Oaks (OAKS -8%) are selling at greater than 40% discounts. Two Harbors (TWO -7.5%), CYS Investments (CYS -6.2%), American Capital Mortgage (MTGE -6%), Capstead (CMO -5.9%), Dynex (DX -7.2%), Western Asset (WMC -8%), Ellington Residential (EARN -7.2%), and Orchid Island (ORC -9.6%) are all nearing 40% discounts.
    • MFA Financial (MFA -6.4%) and Chimera Investment (CIM -8.1%) are both nearing 30% discounts to book.
    • ETFs: MORL, REM, MORT, LMBS
    | Wed, Jan. 20, 10:44 AM | 242 Comments
  • Tue, Jan. 19, 11:43 AM
    • The best thing that can be said about the market reaction today, is that New Residential (NRZ -0.6%) isn't down as much as the other mortgage-related names (REM -1.8%) which continue to be mercilessly pounded.
    • PennyMac (PMT -4.5%), Ocwen (OCN -3.7%), Walter Investment (WAC -4.8%), Stonegate (SGM -3.4%), Armour (ARR -3.5%), Invesco (IVR -2.4%), New York Mortgage (NYMT -4.1%), Apollo Residential (AMTG -3.1%), AG Mortgage (MITT -3.4%), Five Oaks (OAKS -6.7%), American Capital (MTGE -2%), Two Harbors (TWO -2.2%), Chimera (CIM -3.4%).
    • Citi's Michael Kaye - who rates NRZ a Buy - says the repurchase plan makes sense given the stock trades at just 0.84x book and yields 18%. Depending on how the buyback is funded, it could add up to a couple of hundred basis points of accretion. It also sends a signal to the markets about management's belief in the stock's value. Management gave little detail on a timetable.
    • Previously: New Residential steps in with $200M repurchase plan (Jan. 19)
    | Tue, Jan. 19, 11:43 AM | 49 Comments
  • Tue, Jan. 12, 3:17 PM
    • The 10-year Treasury yield is off eight basis points on the session at 2.10%, and now lower by about 20 basis points since the Fed Funds rate got hiked 25 basis points less than a month ago - probably not the best scenario for mREIT earnings going forward.
    • Other income favorites like equity REITs, BDCs, and utilities (XLU -0.8%) are also being aggressively sold today.
    • Annaly Capital (NLY -1.8%), American Capital Agency (AGNC -1.7%), Armour Residential (ARR -2.4%), Two Harbors (TWO -2%), CYS Investments (CYS -1.9%), Invesco (IVR -2.3%), New York Mortgage (NYMT -2.3%), Hatteras (HTS -3.2%), Capstead (CMO -3.6%), Western Asset (WMC -2.9%), Apollo Residential (AMTG -3.6%), Dynex (DX -3.1%), Ellington Residential (EARN -3.5%), AG Mortgage (MITT -3.2%), PennyMac (PMT -4.9%), FIve Oaks (OAKS -5.7%)
    • ETFs: MORL, REM, MORT, LMBS
    | Tue, Jan. 12, 3:17 PM | 24 Comments
  • Fri, Jan. 8, 9:46 AM
    • These income favorites are known for having had a tough time of it in 2015, in part thanks to worries about rising interest rates. MKM's Jonathan Krinsky, however, notes REITs have been relatively outperforming the S&P 500 for months and have just broken out to nine-month highs versus the broader market.
    • Krinsky's a technician, so he's staying with the trend and recommending going long REITs (NYSEARCA:IYR) versus the S&P 500.
    • Turning to individual REIT sectors and names, he's overweight apartments (AIV, AVB, ESS, EQR, MAA), UDR), storage (CUBE, EXR, PSA, SSS), and shopping malls (KIM, MAC, FRT, REG, IRM).
    • He's equal weight data centers (buys: CONE, DCT, QTS, sells: EGP), diversified (buys: AMT, CCI, DLR, DRE, PSB, sells: EQIX, LPT, STAG, VNO, WY, WPC).
    • He's underweight office property (buys: EQC, sells: HPP, FSP, GOV, KRC, OFC, PKY, SLG), hotels (sells: AHT, FCH, HPT, HST), mREITs (sells: ARR, STWD, RSO, buy: ABR), healthcare (sells: HCP, MPW, OHI, VTR, buys: DOC, HR, HTA)
    | Fri, Jan. 8, 9:46 AM | 37 Comments
  • Thu, Jan. 7, 7:34 AM
    • The company repurchased about $160M worth of stock last year at an average cost of $21.25 each (7.5M shares), cutting the float by 16.9% to 36.682M shares.
    • The accretive effect on NAV per share was roughly $1.13.
    • Armour (NYSE:ARR) can buy back another 1.881M shares under its current repurchase program.
    • Source: Press Release
    • The stock closed last night at $21.88.
    | Thu, Jan. 7, 7:34 AM | 8 Comments
  • Mon, Jan. 4, 6:15 AM
    • ARMOUR Residential REIT (NYSE:ARR) declares $0.33/share monthly dividend, in line with previous.
    • Forward yield 18.2%
    • Payable Jan. 27; for shareholders of record Jan. 15; ex-div Jan. 13.
    | Mon, Jan. 4, 6:15 AM | 4 Comments
  • Dec. 23, 2015, 12:48 PM
    • A check of discounts/premiums to book for many of the names in the mortgage REIT sector finds discounts have mostly widened significantly over the past year.
    • Among the notable items: Just two names sold at premiums to book a year ago. New York Mortgage (NASDAQ:NYMT) trust at 11.6% and Capstead Mortgage (NYSE:CMO) at 1.3%. While book value has barely budged at NYMT over the past year, the price investors are willing to pay has - it now trades at a 17.6% discount. Capstead has shed about 5% of its book value, but now trades at a 22.66% discount.
    • Sector giants Annaly Capital (NYSE:NLY) and American Capital Agency (NASDAQ:AGNC) still trade at sizable discounts to book, with AGNC's widening to 20.65% from 12.7% a year ago.
    • Chimera Investment (NYSE:CIM) trades at just a 4.12% discount to book - that's less than its 4.9% discount a year ago. Book value however, slid 12.7% over the last 52 weeks.
    • Others covered: ARR, TWO, IVR, CYS, HTS, MTGE, AMTG, ANH, MITT, DX, WMC, MFA, EARN, AI, CHMI, ORC, OAKS, ZFC
    • ETFs: MORL, REM, MORT, LMBS
    | Dec. 23, 2015, 12:48 PM | 21 Comments
  • Dec. 11, 2015, 3:52 PM
    • The sector often goes green on days when the major averages sell off, but not today, WIth the S&P 500 down 2% and the 10-year Treasury yield lower by 10 basis points to 2.13%, the mREIT sector (REM -2%) is lit up bright red.
    • Sector giants Annaly Capital (NLY -1.6%) and American Capital Agency (AGNC -1.2%) are among the best performers.
    • Armour Residential (ARR -2.1%), Invesco (IVR -3.3%), New York Mortgage (NYMT -1.9%), Western Asset (WMC -3.6%), Apollo Residential (AMTG -4.2%), Dynex (DX -2.8%), Arlington Asset (AI -3.7%), Ellington Residential (EARN -2.9%), Five Oaks (OAKS -6.7%)
    • ETFs: MORL, REM, MORT, LMBS
    | Dec. 11, 2015, 3:52 PM | 41 Comments
  • Nov. 9, 2015, 7:47 AM
    • Q3 core income of $52.4M or $1.11 per share vs. $47.7M and $0.96 in Q2. Dividend was $0.98.
    • Book value per share of $29.05 falls from $31.69 in Q2. Friday's close of $20.15 is a 31% discount to book.
    • A net 1.755M shares repurchased during quarter.
    • 1.44% average NIM up eight basis points from Q2; CPR of 9.23% up from 8.11%.
    • Conference call at 10 ET
    • Previously: ARMOUR Residential REIT beats by $0.12 (Nov. 6)
    • ARR flat premarket
    | Nov. 9, 2015, 7:47 AM | 1 Comment
  • Nov. 6, 2015, 4:47 PM
    • ARMOUR Residential REIT (NYSE:ARR): Q3 EPS of $1.11 beats by $0.12.
    | Nov. 6, 2015, 4:47 PM | 5 Comments
  • Nov. 5, 2015, 5:32 PM
    • ARMOUR Residential REIT (NYSE:ARR) declares $0.33/share monthly dividend, in line with previous.
    • Forward yield 19.35%
    • Payable Dec. 30; for shareholders of record Dec. 16; ex-div Dec. 14.
    | Nov. 5, 2015, 5:32 PM | 2 Comments
  • Oct. 27, 2015, 3:34 PM
    | Oct. 27, 2015, 3:34 PM | 11 Comments
  • Oct. 26, 2015, 6:47 AM
    • ARMOUR Residential REIT (NYSE:ARR) declares $0.33/share monthly dividend, in line with previous.
    • Forward yield 18.6%
    • Payable Nov. 27; for shareholders of record Nov. 16; ex-div Nov. 12.
    | Oct. 26, 2015, 6:47 AM | 13 Comments
  • Oct. 5, 2015, 12:36 PM
    • With a wave of Q3 dividend cuts now in the rearview mirror, perhaps investors are looking ahead to what might be stability in payouts. With most of the sector trading at double-digit discounts to book value - and plenty of names selling for more than 20% discounts - even stability should be enough for a reasonable rally into year-end.
    • Leading the way higher is Five Oaks Investment (OAKS +6.4%), while mREIT giants Annaly Capital (NLY +1%) and American Capital Mortgage (AGNC +1.2%) are sector laggards today.
    • Two Harbors (TWO +1.7%), CYS Investments (CYS +2.3%), New York Mortgage (NYMT +3.5%), Dynex Capital (DX +2.4%), AG Mortgage (MITT +2.6%), Javelin Mortgage (JMI +4%), Armour Residential (ARR +2.9%), Orchid Island (ORC +4.2%)
    • ETFs: MORL, REM, MORT, LMBS
    | Oct. 5, 2015, 12:36 PM | 22 Comments
Company Description
ARMOUR Residential REIT Inc invests in and manages a leveraged portfolio of residential mortgage backed securities. It invest in residential mortgage backed securities issued or guaranteed by a United States Government-sponsored entity.
Sector: Financial
Country: United States