Something not right with ARMOUR Residential REIT, Inc (NYSE:ARR)
In Monday’s trading, ARMOUR Residential REIT, Inc (NYSE:ARR) shares touched a new 52-week low. In Monday’s trading session, the company stock dipped by 8.35%. The opening price of the shares was $44.10 which touched an intraday high of $4.11 and closed at $3.78. More than 17.34 million shares exchanged hands in Monday’s trading session while the average number of shares traded over the last 30 days was 5.33 million. The company has a market cap of 1.40 billion.
Recently, numerous analysts have weighed in on the company’s shares. Barclays’ analysts cut their price-target on the shares on Monday, from $5.50 to $5.00 and now have set an “equal weight” rating on ARR stock. Keefe, Bruyette & Woods’ analysts axed their price-target from $7.00 to $5.00 on 5th August and Deutshe Bank analysts reduced their price target from $6.75 to $5.00 on July 17 and have set a “hold” rating on the stock.
One investment-analyst has assigned a “sell” rating in the stock while 5 have assigned a “hold” rating. Three analysts have assigned a “buy” rating and the average rating in the stock is “hold” while the consensus price target is $5.30. ARR has a 52 week low of $4.06 and a 52 week high of $7.71. The 50-day moving average of the stock is $4.45 while its 200 day moving-average is $5.70.
ARMOUR Residential REIT last released its earnings-data on Thursday 1 August. It reported earnings per share of $0.18 for the quarter which missed the average analysts estimate by $0.02. On an average the analyst projection is that the company will post earnings per share of $0.71 for the current financial year. The company is externally-managed by Armour residential REIT. It primarily invests in hybrid-adjustable rate, fixed-rate RMBS as well as adjustable rate ones.