Monday, January 05, 2015 12:14:10 AM
Dec. 24, 2014
"ARMOUR Residential REIT (NYSE:ARR) surprised pretty much no one when it announced lower monthly dividends for Q1 2015. The company has slashed its dividend by 20% to $0.04 per month, compared to $0.05 per month for all of 2014. At current prices, ARMOUR yields 13% and trades at a 20% discount to its Q3 2014 NAV of $4.58 per share.
While I am being a tad too harsh on ARMOUR, the company has been seeing its fundamentals deteriorate. For the most recent quarter, Q3 2014, ARMOUR saw its "core income" drop to $0.13 per share, down from around $0.14 per share in Q2 2014 and $0.15 per share in Q1 2014. In other words, ARMOUR has posted falling "core income" every quarter, an unsustainable trend by pretty much any definition..."
"Conclusion
ARMOUR continues to be one of the weaker names among the mREITs. The company has sky-high leverage, above 8.4x, well above peers, who typically have leverage in the 5x-6x range. In addition, management has had a dubious track record in creating shareholder wealth, seeing NAV decline in periods where many mREITs have prospered, such as for Q1 2014. My simple suggestion is to avoid ARMOUR. There are many of other names in the sector offering similar yields with much less risk."
http://seekingalpha.com/article/2777815-armour-residential-reit-a-20-percent-dividend-cut-just-in-time-for-the-holidays
Recent ARR News
- ARMOUR Residential REIT, Inc. Announces Q1 Results and March 31, 2024 Financial Position • GlobeNewswire Inc. • 04/25/2024 08:15:00 PM
- ARMOUR Residential REIT, Inc. Announces May 2024 Dividend Rate Per Common Share • GlobeNewswire Inc. • 04/24/2024 08:20:00 PM
- ARMOUR Residential REIT, Inc. First Quarter 2024 Webcast Scheduled for April 26, 2024 • GlobeNewswire Inc. • 04/24/2024 08:15:00 PM
- ARMOUR Residential REIT, Inc. Confirms April 2024 Common Share and Series C Preferred Share Dividends • GlobeNewswire Inc. • 04/01/2024 08:15:00 PM
- ARMOUR Residential REIT, Inc. Announces Guidance for April 2024 Dividend Rate Per Common Share • GlobeNewswire Inc. • 03/25/2024 08:15:00 PM
- ARMOUR Residential REIT, Inc. Names Sergey Losyev and Desmond Macauley as Co-Chief Investment Officers • GlobeNewswire Inc. • 03/18/2024 09:55:30 PM
- ARMOUR Residential REIT, Inc. Announces Retirement of Founder and Co-CEO Jeffrey J. Zimmer • GlobeNewswire Inc. • 03/15/2024 10:40:10 PM
- ARMOUR Residential REIT, Inc. Announces Chief Financial Officer Transition • GlobeNewswire Inc. • 03/13/2024 10:55:17 PM
- ARMOUR Residential REIT, Inc. Announces Updated Estimated Book Value • GlobeNewswire Inc. • 03/01/2024 09:21:11 PM
- ARMOUR Residential REIT, Inc. Files Form 12b-25 With the Securities and Exchange Commission • GlobeNewswire Inc. • 03/01/2024 09:20:37 PM
- ARMOUR Residential REIT, Inc. Announces Preliminary Unaudited Q4 Results and December 31, 2023 Financial Position • GlobeNewswire Inc. • 02/14/2024 10:26:01 PM
- ARMOUR Residential REIT, Inc. Announces March 2024 Dividend Rate Per Common Share • GlobeNewswire Inc. • 02/14/2024 11:30:00 AM
- ARMOUR Residential REIT, Inc. Announces February 2024 Dividend Rate Per Common Share and Tax Allocation for 2023 Dividends • GlobeNewswire Inc. • 02/01/2024 09:15:00 PM
- ARMOUR Residential REIT, Inc. Confirms January 2024 Common Share and Series C Preferred Share Dividends • GlobeNewswire Inc. • 01/02/2024 11:30:00 AM
- ARMOUR Residential REIT, Inc. Announces Guidance for January 2024 Dividend Rate Per Common Share and Updated Estimated Book Value • GlobeNewswire Inc. • 12/14/2023 11:30:00 AM
- ARMOUR Residential REIT, Inc. Announces Q3 Results and September 30, 2023 Financial Position; Increased Stock Repurchase Authorization • GlobeNewswire Inc. • 10/25/2023 08:15:00 PM
- ARMOUR Residential REIT, Inc. Third Quarter 2023 Webcast Scheduled for October 26, 2023 • GlobeNewswire Inc. • 10/24/2023 08:15:00 PM
- ARMOUR Residential REIT, Inc. Confirms Q4 2023 Common Share and Series C Preferred Share Dividends • GlobeNewswire Inc. • 10/02/2023 10:15:00 AM
- ARMOUR Residential REIT, Inc. Announces Effectiveness of One-For-Five Reverse Stock Split • GlobeNewswire Inc. • 10/02/2023 10:05:00 AM
- ARMOUR Residential REIT, Inc. Announces One-for-Five Reverse Stock Split, Continued Dividend Rate per Common Share for September 2023 and Stable Q4 Dividend Guidance • GlobeNewswire Inc. • 08/29/2023 08:15:00 PM
- ARMOUR Residential REIT, Inc. Announces Q2 Results and June 30, 2023 Financial Position • GlobeNewswire Inc. • 07/26/2023 08:15:00 PM
- ARMOUR Residential REIT, Inc. Announces August 2023 Dividend Rate Per Common Share • GlobeNewswire Inc. • 07/26/2023 10:30:00 AM
- ARMOUR Residential REIT, Inc. Second Quarter 2023 Webcast Scheduled For July 27, 2023 • GlobeNewswire Inc. • 07/25/2023 08:15:00 PM
- ARMOUR Residential REIT, Inc. Confirms July 2023 Common Share and Series C Preferred Share Dividends • GlobeNewswire Inc. • 07/03/2023 04:00:00 PM
- ARMOUR Residential REIT, Inc. Announces Guidance For July 2023 Dividend Rate Per Common Share • GlobeNewswire Inc. • 06/26/2023 08:15:00 PM
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