Shares of ARMOUR Residential REIT Inc. (NYSE:ARR) traded today at $12.53, eclipsing its 52-week high. Approximately 211,000 shares have changed hands today, as compared to an average 30-day volume of 1.5 million shares.
ARMOUR Residential REIT Inc is a real estate investment trust that invests in residential mortgage-backed securities or RMBS. These are issued or guaranteed by U.S.-government-sponsored enterprises, such as Fannie Mae, Freddie Mac, or Ginnie Mae. The company's investment portfolio is composed of mortgage-backed securities, adjustable-rate mortgage securities, and multifamily mortgage-backed securities. In terms of total fair value, the vast majority of Armour's investments are long-term, fixed-rate agency RMBS. Multifamily RMBS also represents a substantial amount. Fannie Mae guarantees most of the company's holdings. Armour derives substantially all of its revenue as interest income from its investments.
ARMOUR Residential REIT Inc. (NYSE:ARR) is currently priced 0.4% above its average consensus analyst price target of $12.46.
In the past 52 weeks, shares of ARMOUR Residential REIT Inc. have traded between a low of $6.39 and a high of $12.53 and is now at $12.51, which is 96% above that low price.
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