Saturday, March 24, 2012 1:55:51 AM
Armour Gets Coverage From Bank of America. (ARR)
Posted by John Perry on Mar 24th, 2012 // No Comments
Bank of America (NYSE: BAC) initiated coverage on shares of Armour Residential (NYSE: ARR) in a research note issued on Wednesday. They set a “buy” rating and a $7.00 price target on the stock.
The analysts wrote, “ARR is a mortgage REIT that invests exclusively in residential agency MBS. We forecast ARR will generate a 17% dividend yield in 2012. Valuation should rise to around 1.05x BV, in our view, suggesting modest upside potential. Investors could earn a 22% total return over the next 12 months, 17% from dividends plus 5% from share price improvement, based on our dividend forecast and price objective. The primary risks to our forecast include: changes in interest rates, rising prepayments, execution risk, liquidity risk and adverse changes in regulatory policies.”
A number of other firms have also recently commented on ARR. Analysts at National Securities reiterated a “buy” rating on shares of Armour Residential in a research note to investors on Wednesday, March 7th. Separately, analysts at Deutsche Bank (NYSE: DB) initiated coverage on shares of Armour Residential in a research note to investors on Tuesday, February 21st. They set a “buy” rating and a $7.75 price target on the stock. Finally, analysts at B. Riley downgraded shares of Armour Residential from a “neutral” rating to a “sell” rating in a research note to investors on Monday, February 6th.
Shares of Armour Residential traded up 0.30% during mid-day trading on Wednesday, hitting $6.68. Armour Residential has a one year low of $5.40 and a one year high of $7.80. The stock’s 50-day moving average is $6.9 and its 200-day moving average is $7.00. The company’s market cap is $946.6 million.
ARMOUR Residential REIT, Inc. (ARMOUR), formerly Enterprise Acquisition Corp., is focused on investing in Agency residential mortgage-backed securities.
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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