Stonegate Capital Partners Initiates Coverage on Armour Residential REIT, Inc. (ARR)

Core Insights - Stonegate Capital Partners has initiated coverage on Armour Residential REIT, Inc. (NYSE: ARR) [1] - Armour Residential REIT reported revenues of $210.2 million, net income to common of $156.3 million, and diluted EPS of $1.49 for the quarter, reflecting year-over-year increases of 65.4%, 148.5%, and 23.2% respectively [1] - The strong performance was attributed to growth in average interest income on interest-earning assets, while interest costs on average interest-bearing liabilities decreased [1] - The current macro environment suggests that this performance is expected to be sustainable [1] Financial Highlights - Revenue: $210.2 million, a 65.4% increase year-over-year [1] - Net Income: $156.3 million, a 148.5% increase year-over-year [1] - Diluted EPS: $1.49, a 23.2% increase year-over-year [1] - Annualized dividend yield of 19.3%, paid monthly [5] - Total economic return for the quarter was 7.75% [5] Market Position - Armour Residential REIT is currently trading at a discount to its book value, indicating a potential value play for investors [5]