VERO BEACH, Florida, April 01, 2025 (GLOBE NEWSWIRE) -- ARMOUR Residential REIT, Inc. (NYSE: ARR and ARR-PRC) ("ARMOUR" or the "Company") today confirmed the April 2025 cash dividend for the Company's Common Stock, consistent with the previous guidance which the Company released on March 25, 2025. The Company also confirmed the Q2 2025 monthly cash dividend rate for the Company's Series C Preferred Stock. Q2 2025 Series C Preferred Stock Dividend Information | Month | Dividend | Holder of Record Date | Paym ...

VERO BEACH, Florida, March 25, 2025 (GLOBE NEWSWIRE) -- ARMOUR Residential REIT, Inc. (NYSE: ARR and ARR-PRC) (“ARMOUR” or the “Company”) today announced guidance on the April 2025 cash dividend for the Company's Common Stock of $0.24 per Common share. April 2025 Common Stock Dividend Information Month Dividend Holder of Record Date Payment DateApril 2025 $0.24 April 15, 2025 April 29, 2025 Certain Tax MattersARMOUR has elected to be taxed as a real estate investment trust (“REIT”) for U.S. Federal income t ...

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Financial Data and Key Metrics Changes - ARMOUR's Q4 GAAP net loss related to common stockholders was $49.4 million or $0.83 per common share [6] - Net interest income was $12.7 million, while distributable earnings available to common stockholders was $46.5 million or $0.78 per common share [7] - Quarter-end book value was $19.07 per common share, with the most current estimate as of February 10th being $19.18 per common share [10] Business Line Data and Key Metrics Changes - ARMOUR raised approximately $136.2 million of capital by issuing approximately 7.2 million shares of common stock [8] - The company paid monthly common stock dividends of $0.24 per share for a total of $0.70 for the quarter [9] - The agency portfolio experienced approximately 4 basis points of widening in nominal spreads [19] Market Data and Key Metrics Changes - The U.S. economy remained resilient in Q4, with investors reducing the number of expected rate cuts, leading to increased bond yields and wider spreads [12] - Portfolio MBS prepayment rates averaged 8.7% CPR in Q4, trending at around 6.4% average CPR so far in Q1 [22] Company Strategy and Development Direction - ARMOUR maintains a constructive view on agency MBS spreads, with a positively sloped yield curve generating approximately 150 basis points positive versus cash [14] - The company expects rates to trade in a range-bound environment over the early part of the year, which is a tailwind for consistent MBS returns [15] - ARMOUR has increased exposure to TBA roles in coupons where returns are expected to improve [23] Management's Comments on Operating Environment and Future Outlook - Management acknowledged potential headwinds facing MBS investors, including GSE reform and ongoing fiscal issues [16] - The company is comfortable with current leverage but is monitoring GSE reforms and potential changes in monetary policy for future adjustments [56] - Management expects earnings available for distribution to exceed the Q1 dividend rate [21] Other Important Information - ARMOUR's hedge book is composed of approximately 25% treasury-based hedges, with the remainder in OIS and SOFO pay swaps [20] - The repo market remains plentiful and competitively priced, with Fed Chairman Powell reiterating that banking reserves remain abundant [25] Q&A Session Summary Question: Clarification on book value update and February's dividend - Management confirmed that the book value does not factor in February's dividend as they go ex-dividend by the end of the week [28][29] Question: Outlook for volatility and its potential costs - Management noted that volatility has declined, which is a tailwind for the MBS market, and expects this trend to continue with the Fed on hold [31][32] Question: Comparison of expected ROE on deployments - Management indicated that they have been able to deploy capital at expected ROE numbers, but future performance remains uncertain [35][36] Question: Risk factors for spread widening - Management highlighted geopolitical issues, GSE reforms, and ongoing fiscal concerns as potential risks for spread widening [40][41] Question: GSE reform impact on mortgage basis - Management discussed that while some risk is priced in, they do not expect an abrupt exit from the implicit government guarantee [46][48] Question: Conditions for increasing or decreasing leverage - Management is comfortable with current leverage but is looking for clarity on GSE reforms and monetary policy before making changes [55][56] Question: Outlook on swap spreads and hedging strategies - Management stated that they are well positioned with a swap position of 75% versus 25% in treasuries, anticipating further widening appreciation of swap spreads [61] Question: Repo market conditions and liquidity - Management noted that the repo market has been well-behaved and is beneficial for agency MBS, with competitive pricing observed [77]

Core Viewpoint - Armour Residential REIT (ARR) reported quarterly earnings of $0.78 per share, missing the Zacks Consensus Estimate of $1.01 per share, representing an earnings surprise of -22.77% [1] - The company posted revenues of $12.66 million for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 62.74% [2] Financial Performance - Earnings for the same quarter last year were $1.07 per share, indicating a decline in earnings year-over-year [1] - The company has surpassed consensus EPS estimates three times over the last four quarters [2] - The revenue for the current quarter is significantly higher than the $5.8 million reported a year ago [2] Market Performance - Armour Residential REIT shares have increased by approximately 1.1% since the beginning of the year, compared to a 3.2% gain in the S&P 500 [3] - The stock is currently rated Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [6] Future Outlook - The current consensus EPS estimate for the upcoming quarter is $1.04 on revenues of $10.48 million, and for the current fiscal year, it is $4.11 on revenues of $53.17 million [7] - The outlook for the REIT and Equity Trust industry is currently in the bottom 46% of Zacks industries, which may impact stock performance [8]

Financial Performance - Net interest income for the year ended December 31, 2024, was $26,800,000, a decrease from $27,109,000 in 2023[312] - Total other income for 2024 was $12,456,000, compared to a loss of $51,481,000 in 2023[312] - The net loss for the year ended December 31, 2024, was $14,394,000, significantly improved from a net loss of $67,923,000 in 2023[312] - The company reported a comprehensive loss of $14,394,000 for 2024, compared to a comprehensive loss of $56,396,000 in 2023[312] - Total expenses after fees waived increased to $53,650,000 in 2024 from $43,551,000 in 2023[312] - The company reported a net loss per share related to common stockholders of $(0.51) in 2024, an improvement from $(1.86) in 2023[463] - The total comprehensive loss for 2024 was $14,394 thousand, a decrease from $67,923 thousand in 2023 and $348,430 thousand in 2022[469] Income and Expenses - Total interest income for 2024 was $550,946, slightly down from $552,903 in 2023, with an average yield of 4.90%[316] - Total interest expense decreased to $524,146 in 2024 from $525,794 in 2023, resulting in a net interest spread of (0.43)%[316] - Management fees increased to $39,734 in 2024 from $38,188 in 2023, while total expenses rose to $60,250 from $50,151[326] - The effective management fee rate was 0.92% for 2024, down from 0.93% in 2023, after waiving management fees of $6,600 in both years[329] - Total management fee expense for 2024 was $33.126 million, up 5.1% from $31.521 million in 2023[384] Investments and Securities - ARMOUR's investments primarily consist of Agency Securities, which are subject to risks from prepayments and changing mortgage spreads[291][287] - The company purchased $7,271,101 in trading securities during the year ending December 31, 2024, while proceeds from sales were $4,589,515[351] - Total investments in securities as of December 31, 2024, amounted to $12,957,039, with an amortized cost of $12,806,504 and an unrealized loss of $367,090[343] - The company reported a realized loss on Agency Securities trading of $(348,646) for 2024, compared to a loss of $(52,665) in 2023[322] - The company experienced a gain of $37,602 from trading securities during the year ending December 31, 2024[351] Liquidity and Capital Resources - The company had liquidity totaling $608,026 as of December 31, 2024, consisting of $67,970 in cash and cash equivalents and $540,056 in unencumbered Agency Securities and U.S. government securities[370] - The company has sufficient liquidity and capital resources for acquiring additional investments and meeting financing obligations[387] - The company recognized net gains related to derivatives of $323,500 for the year ended December 31, 2024, compared to $51,748 for the year ended December 31, 2023[362] Market and Interest Rate Risks - Interest rate risk is the primary market risk for ARMOUR, affecting net interest income and the value of mortgage-backed securities (MBS)[416] - Changes in interest rates could lead to a mismatch between the interest rates on mortgage assets and funding sources, impacting net interest income and dividend yield[418] - As of December 31, 2024, a 1.00% increase in interest rates is projected to decrease net interest income by 4.92%, portfolio value by 0.98%, and stockholders' equity by 9.16%[425] - The primary liquidity risk arises from financing long-maturity MBS with short-term debt, which may lead to increased borrowing costs in a rising interest rate environment[433] Company Structure and Compliance - ARMOUR is organized as a real estate investment trust (REIT) and aims to meet the requirements for qualification under the Internal Revenue Code[475] - The company primarily invests in mortgage-backed securities (MBS) issued or guaranteed by U.S. Government-sponsored entities[476] - The company maintains effective internal control over financial reporting as of December 31, 2024, based on PCAOB standards[452] Shareholder Information - Dividends declared per common share decreased to $2.88 in 2024 from $5.00 in 2023, a reduction of 42.4%[463] - The total common stock increased to 62,412 thousand shares by December 31, 2024, up from 48,799 thousand shares in 2023 and 32,582 thousand shares in 2022[466]