ARMOUR Residential REIT, Inc. (NYSE:ARR) has announced a reverse stock split in a ratio of 1-5, which will take effect before the market opens on Monday, October 2nd. This means that the number of shares owned by shareholders will be adjusted accordingly after the market closes on the same day.
While the announcement of the reverse stock split may have an impact on the company’s stock price, ARMOUR Residential REIT has been experiencing a slight upward trend. On Friday, the shares opened at $4.91 with a 50-day moving average of $4.98. The company has a market capitalization of $1.12 billion and a price-earnings ratio of -7.22.
In addition to the reverse stock split, ARMOUR Residential REIT has recently declared a monthly dividend. Shareholders of record on Friday, September 15th will receive a dividend of $0.08 per share. This represents an annualized dividend of $0.96 and a dividend yield of 19.55%.
Analysts have given mixed ratings to ARMOUR Residential REIT, with StockNews.com giving the company a “sell” rating. However, it is worth noting that several hedge funds and other institutional investors have recently increased their stakes in the company.
ARMOUR Residential REIT primarily invests in residential mortgage-backed securities (MBS) in the United States. The company’s portfolio consists of fixed-rate, hybrid adjustable-rate, adjustable-rate securities, as well as unsecured notes and bonds issued by government-sponsored entities and the U.S. Treasury.
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