ARMOUR Residential REIT (NYSE:ARR) Price Target Cut to $6.00

ARMOUR Residential REIT (NYSE:ARRGet Rating) had its price target lowered by equities research analysts at Barclays from $8.00 to $6.00 in a research report issued to clients and investors on Friday, The Fly reports. Barclays‘s price objective suggests a potential downside of 20.21% from the company’s current price.

A number of other equities analysts have also weighed in on ARR. B. Riley cut their target price on shares of ARMOUR Residential REIT from $11.00 to $9.50 and set a “neutral” rating for the company in a research report on Tuesday, February 22nd. StockNews.com started coverage on shares of ARMOUR Residential REIT in a research report on Thursday, March 31st. They set a “sell” rating for the company. Credit Suisse Group cut their target price on shares of ARMOUR Residential REIT from $10.00 to $9.00 and set a “neutral” rating for the company in a research report on Thursday, March 10th. Finally, Zacks Investment Research upgraded shares of ARMOUR Residential REIT from a “hold” rating to a “strong-buy” rating and set a $8.50 target price for the company in a research report on Tuesday, May 3rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat, ARMOUR Residential REIT presently has an average rating of “Hold” and a consensus target price of $8.25.

ARR opened at $7.52 on Friday. The firm has a market cap of $775.84 million, a P/E ratio of -4.64 and a beta of 0.99. The firm has a 50-day moving average of $7.82 and a 200 day moving average of $8.87. ARMOUR Residential REIT has a fifty-two week low of $7.14 and a fifty-two week high of $12.29.

ARMOUR Residential REIT (NYSE:ARRGet Rating) last posted its quarterly earnings results on Wednesday, April 27th. The real estate investment trust reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.03. ARMOUR Residential REIT had a negative net margin of 128.09% and a positive return on equity of 8.60%. Equities analysts predict that ARMOUR Residential REIT will post 1.08 EPS for the current year.

Several hedge funds have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. raised its stake in ARMOUR Residential REIT by 66.4% in the first quarter. PNC Financial Services Group Inc. now owns 4,766 shares of the real estate investment trust’s stock valued at $41,000 after purchasing an additional 1,901 shares in the last quarter. Penserra Capital Management LLC purchased a new stake in ARMOUR Residential REIT in the third quarter valued at approximately $83,000. First Trust Advisors LP purchased a new stake in ARMOUR Residential REIT in the first quarter valued at approximately $97,000. Profund Advisors LLC purchased a new stake in ARMOUR Residential REIT in the fourth quarter valued at approximately $98,000. Finally, Guggenheim Capital LLC purchased a new stake in ARMOUR Residential REIT in the fourth quarter valued at approximately $110,000. Institutional investors own 51.92% of the company’s stock.

About ARMOUR Residential REIT (Get Rating)

ARMOUR 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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