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ARMOUR Residential REIT
(NYSE:ARR)
ARMOUR Residential REIT (ARR) vs. SPDR S&P 500 ETF (SPY)
ARMOUR Residential REIT Business Overview & Revenue Model
ARMOUR Residential REIT Earnings Call Summary
ARMOUR Residential REIT Financial Statement Overview
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 309.93M | 1.31B | 239.90M | 449.67M | -877.95M | 4.89M |
| Gross Profit | 474.06M | 1.27B | 206.77M | 418.09M | -903.93M | -17.61M |
| EBITDA | 234.67M | 964.77M | 510.10M | 457.87M | -104.61M | 7.11M |
| Net Income | 64.54M | 322.69M | -14.39M | -67.92M | -229.93M | 15.36M |
Balance Sheet | ||||||
| Total Assets | 19.36B | 21.01B | 13.55B | 12.34B | 9.44B | 5.28B |
| Cash, Cash Equivalents and Short-Term Investments | 44.24M | 63.27M | 67.97M | 221.89M | 87.28M | 337.66M |
| Total Debt | 0.00 | 17.94B | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 17.23B | 18.74B | 12.19B | 11.07B | 8.32B | 4.13B |
| Stockholders Equity | 2.13B | 2.26B | 1.36B | 1.27B | 1.11B | 1.14B |
Cash Flow | ||||||
| Free Cash Flow | 179.08M | 124.20M | 261.46M | 132.82M | 124.08M | 11.74M |
| Operating Cash Flow | 179.08M | 124.20M | 261.46M | 132.82M | 124.08M | 11.74M |
| Investing Cash Flow | -6.66B | -7.36B | -1.69B | -3.04B | -3.89B | 503.58M |
| Financing Cash Flow | 6.60B | 0.00 | 1.31B | 3.05B | 3.53B | -330.77M |
ARMOUR Residential REIT Technical Analysis
ARMOUR Residential REIT Risk Analysis
ARMOUR Residential REIT Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
64 Neutral | $2.79B | 5.66 | 17.50% | 14.63% | 47.97% | 17.22% | |
60 Neutral | $1.47B | 13.09 | 6.66% | 9.89% | 0.29% | ― | |
60 Neutral | $1.58B | 9.59 | 9.23% | 11.37% | 70.94% | 2.95% | |
57 Neutral | $1.98B | 5.37 | 17.82% | 15.06% | -27.55% | -97.87% | |
54 Neutral | $1.32B | 20.47 | 4.25% | 8.21% | -17.18% | -17.16% | |
53 Neutral | $1.15B | 8.01 | 9.04% | 11.40% | 9.46% | -111.44% |
ARMOUR Residential REIT Corporate Events
ARMOUR Residential REIT reported unaudited fourth-quarter 2025 results on February 18, 2026, posting GAAP net income available to common shareholders of $208.7 million, or $1.86 per share, and distributable earnings of $79.8 million, or $0.71 per share. The company generated net interest income of $50.4 million, maintained an economic net interest spread of 1.77%, paid $0.72 per common share in dividends for the quarter, and raised $3.8 million via preferred stock issuance.
As of December 31, 2025, book value per common share rose 6.5% from September 30 to $18.63, contributing to a Q4 total economic return of 10.63% and a full-year 2025 economic return of 12.79%. ARMOUR reported $1.2 billion of liquidity, portfolio leverage near 8:1, and a portfolio 97.0% invested in Agency MBS, while management highlighted roughly 60% portfolio growth in 2025 driven by $878 million of capital deployment into MBS amid tighter spreads, lower volatility, and a lower rate environment, underscoring confidence in its capital deployment and risk management strategy.
On February 17, 2026, the company reported more than $1.0 billion in liquidity excluding $300.0 million of pending MBS principal and interest, and a securities portfolio of about $21.1 billion, including TBA securities. Through February 11, 2026, ARMOUR raised approximately $138.0 million via common stock and $4.8 million via preferred stock under at-the-market programs, while keeping its debt-to-equity ratio around 8:1 and signaling continued active balance sheet and capital management for shareholders’ benefit.
The most recent analyst rating on (ARR) stock is a Hold with a $19.50 price target. To see the full list of analyst forecasts on ARMOUR Residential REIT stock, see the ARR Stock Forecast page.
On February 18, 2026, ARMOUR Residential REIT released a February 2026 monthly update detailing its mortgage‑backed securities portfolio and capital position as of January 31, 2026. The $20.98 billion portfolio remains overwhelmingly concentrated in agency mortgage assets, with 30‑year fixed‑rate pools accounting for nearly 90% of holdings, supported by a mix of net TBA positions and U.S. Treasury longs to manage duration and interest‑rate exposure.
Key balance‑sheet metrics in the update highlight a highly levered but liquid profile, with repo and implied leverage ratios of roughly 7.5–7.8 times equity and liquidity of $1.32 billion, equal to 54% of total capital. For income investors, the company reaffirmed a monthly common dividend of $0.24 per share for March, implying a dividend yield of 16.6% at a $17.40 stock price, underscoring ARMOUR’s continued focus on sustaining high payouts despite relying heavily on short‑term repo funding and extensive interest rate swap hedges across varying maturities.
The most recent analyst rating on (ARR) stock is a Hold with a $19.50 price target. To see the full list of analyst forecasts on ARMOUR Residential REIT stock, see the ARR Stock Forecast page.
ARMOUR Residential REIT, Inc. announced on February 17, 2026, that it will host an online, real-time webcast of its conference call with equity analysts to discuss operating results for the fourth quarter ended December 31, 2025. The call is scheduled for Thursday, February 19, 2026, at 9:00 a.m. Eastern Time, following the planned release of fourth quarter 2025 earnings after the market close on Wednesday, February 18, 2026.
The live broadcast will be accessible via a dedicated webcast link, with an online replay available on the company’s website for one year, providing extended access for investors and other stakeholders. This scheduled communication underscores ARMOUR’s efforts to maintain transparency around its financial performance and to engage actively with the investment community regarding its mortgage-backed securities portfolio and operating results.
The most recent analyst rating on (ARR) stock is a Hold with a $19.50 price target. To see the full list of analyst forecasts on ARMOUR Residential REIT stock, see the ARR Stock Forecast page.
On February 17, 2026, ARMOUR Residential REIT, Inc. declared a cash dividend of $0.24 per common share for the month of March 2026, reinforcing its income-distribution role for shareholders. The dividend will be paid on March 30, 2026, to stockholders of record as of March 16, 2026, providing clarity on the company’s near-term payout schedule and supporting investor expectations for ongoing cash returns.
As a U.S. REIT, ARMOUR highlighted that it must distribute substantially all of its ordinary REIT taxable income to maintain its tax status, and noted that dividends paid in excess of current tax earnings and profits may be non-taxable to common stockholders. The announcement underscored that actual dividend levels remain at the discretion of the board, which weighs operational results, liquidity, capital needs and market conditions, signaling that payout policy could adjust if business or macro conditions shift.
The most recent analyst rating on (ARR) stock is a Hold with a $19.50 price target. To see the full list of analyst forecasts on ARMOUR Residential REIT stock, see the ARR Stock Forecast page.
On January 29, 2026, ARMOUR Residential REIT, Inc. announced that it would pay a cash dividend of $0.24 per share on its common stock for the month of February 2026, with shareholders of record as of February 17, 2026 scheduled to receive payment on February 27, 2026. The company noted that, as a REIT, it must distribute substantially all of its ordinary taxable income to maintain its tax status, and indicated that dividend levels are set at the board’s discretion based on operational results, cash flows, financial condition, capital needs, and market conditions, underscoring the role of regular dividends as a key element of its shareholder return and capital allocation strategy.
The most recent analyst rating on (ARR) stock is a Buy with a $21.00 price target. To see the full list of analyst forecasts on ARMOUR Residential REIT stock, see the ARR Stock Forecast page.
On January 28, 2026, ARMOUR Residential REIT amended its existing at-the-market equity sales program, increasing by 15 million the number of common shares that may be offered and sold and revising its roster of sales agents, removing Janney Montgomery Scott and adding Huntington Securities. Under the amended agreement, ARMOUR may now issue and sell up to 23,244,198 common shares—comprising 8,244,198 previously authorized but unsold shares plus the newly added 15 million—through a group of agents in connection with its effective shelf registration, a move that further extends the company’s ongoing capital-raising program and could provide additional funding flexibility for its mortgage investment operations and balance-sheet management.
The most recent analyst rating on (ARR) stock is a Buy with a $21.00 price target. To see the full list of analyst forecasts on ARMOUR Residential REIT stock, see the ARR Stock Forecast page.
On January 16, 2026, ARMOUR Residential REIT issued a January 2026 monthly update presentation detailing its financial position and portfolio data as of December 31, 2025, showing a $20.0 billion portfolio heavily concentrated in agency mortgage‑backed securities, with 97% in agency holdings and 91.5% in 30‑year fixed‑rate pools, supplemented by a small allocation to U.S. Treasury long positions. The company reported key metrics including an estimated fourth‑quarter 2025 book value per common share of $18.53 to $18.73 versus a $17.69 common stock price, debt‑to‑equity of 7.9, implied leverage of 8.1, and total liquidity of about $1.17 billion, representing 52% of total capital, alongside a monthly common dividend of $0.24 per share (yielding 16.3%) scheduled for payment on January 29, 2026, and detailed its short‑term repo funding profile and extensive interest rate swap positions, underscoring its reliance on leverage, active hedging and ample liquidity to manage interest‑rate risk and sustain dividends for shareholders.
The most recent analyst rating on (ARR) stock is a Buy with a $21.00 price target. To see the full list of analyst forecasts on ARMOUR Residential REIT stock, see the ARR Stock Forecast page.
On January 2, 2026, ARMOUR Residential REIT, Inc. confirmed a cash dividend of $0.24 per share on its common stock for January 2026, payable on January 29, 2026 to shareholders of record as of January 15, 2026, aligning with guidance issued in late December 2025. The company also confirmed a monthly cash dividend of $0.14583 per share on its Series C preferred stock for each month of the first quarter of 2026, with record dates on the 15th of January, February and March and corresponding payments on January 27, February 27 and March 27, underscoring its ongoing commitment to regular capital returns as it distributes substantially all of its REIT taxable income in order to maintain its tax status.
The most recent analyst rating on (ARR) stock is a Buy with a $18.50 price target. To see the full list of analyst forecasts on ARMOUR Residential REIT stock, see the ARR Stock Forecast page.
On December 23, 2025, ARMOUR Residential REIT announced guidance for a January 2026 monthly cash dividend of $0.24 per common share, with shareholders of record on January 15, 2026 scheduled to receive payment on January 29, 2026. The company also disclosed that on December 22, 2025 its external manager, ARMOUR Capital Management LP, notified ARMOUR that it will end its voluntary waiver of a portion of the base management fee for amounts due after February 1, 2026, meaning management fees tied to January 2026 services will no longer benefit from the waiver, which could modestly increase the company’s expense base and affect returns to shareholders going forward.
The most recent analyst rating on (ARR) stock is a Buy with a $18.50 price target. To see the full list of analyst forecasts on ARMOUR Residential REIT stock, see the ARR Stock Forecast page.
On December 12, 2025, ARMOUR Residential REIT, Inc. released a presentation detailing its financial position and operations as of November 30, 2025. The update highlights ARMOUR’s strategic focus on maintaining shareholder value through a diversified MBS portfolio and effective risk management. The company reported a total portfolio value of $19,362 million, with a significant portion in agency MBS. ARMOUR’s financial strategy includes leveraging equity capital and repurchase financing, with a debt-equity ratio of 8.1 and total liquidity of $1,095.2 million. The announcement underscores ARMOUR’s commitment to sustaining common share dividends and managing interest rate risks, which is crucial for its stakeholders.
The most recent analyst rating on (ARR) stock is a Hold with a $17.00 price target. To see the full list of analyst forecasts on ARMOUR Residential REIT stock, see the ARR Stock Forecast page.
On November 26, 2025, ARMOUR Residential REIT, Inc. announced a cash dividend of $0.24 per share for December 2025, payable to common stockholders on December 29, 2025, with a record date of December 15, 2025. This announcement reflects ARMOUR’s commitment to maintaining its REIT status by distributing its taxable income, and the dividend decision is influenced by factors such as operational results, cash flows, and market conditions.
The most recent analyst rating on (ARR) stock is a Hold with a $17.00 price target. To see the full list of analyst forecasts on ARMOUR Residential REIT stock, see the ARR Stock Forecast page.