Exhibit 99.1


[exh99_1001.jpg]


ARMOUR Residential REIT, Inc. Reports 18.7%

Annualized ROE from Taxable REIT Income for Q4 2011


VERO BEACH, FL -- March 6, 2012

-- ARMOUR Residential REIT, Inc. (NYSE: “ARR” and NYSE Amex: “ARR.WS”) (“ARMOUR” or the “Company”) today announced financial results for the quarter and year ending December 31, 2011.


 Fourth Quarter 2011 Highlights and Current Financial Information


·

Q4 2011 estimated taxable REIT income of approximately $28.9 million or  $0.33 per weighted average share outstanding

·

Q4 2011 estimated Core Income of approximately $18.8 million or $0.22 per weighted average share outstanding

·

Q4 2011 GAAP income of approximately $23.7 million or $0.27 per weighted average share outstanding

·

Q4 2011 estimated taxable REIT income results equal annualized yield on Q4 2011 weighted average additional paid-in capital of 18.7%

·

Q4 2011 estimated Core Income results equal annualized yield on Q4 2011 weighted average additional paid-in capital of 12.1%

·

Q4 2011 weighted average shares outstanding of 86,817,017

·

Q4 2011 weighted average additional paid-in capital of $620.6 million

·

Additional paid-in-capital as of December 31, 2011 was $678.6 million or $7.11 per share outstanding

·

Stockholders’ Equity as of December 31, 2011 was $626.6 million or $6.57 per share outstanding, Book Value

·

Q4 2011 average yield on assets of 2.60% and average net interest margin of 1.62%

·

Q4 2011 annualized average principal repayment rate (CPR) of 19.3%

·

During Q4 2011 the Company sold approximately $1.1 billion in Agency Hybrid mortgages resulting in approximately $10.2 million in gains

·

For the year ended December 31, 2011, estimated taxable REIT income of approximately $87.7 million

·

For the year ended December 31, 2011, estimated Core Income of approximately $70.8 million

·

For the year ended December 31, 2011, GAAP loss of approximately $9.4 million

·

For the year ended December 31, 2011, dividends paid of approximately $87.3 million

·

As of December 31, 2011, there were 95,436,949 common shares outstanding

·

The ARMOUR Residential REIT, Inc. monthly “Company Update” can be found at www.armourreit.com.


The Company issued 10,678,444 shares of common stock during Q4 2011, which increased the number of shares outstanding from the end of Q3 2011 by 13.0%. These changes were material to the Company and significantly affected reported results on a comparable quarter-over-quarter basis. Therefore, some quarterly comparisons will not be meaningful or may be misleading. Economies of scale are achieved as the Company’s equity continues to grow.


Q4 2011 Results

 

Taxable REIT Income and Core Income

Estimated taxable REIT income for the quarter ended December 31, 2011 was approximately $28.9 million. The weighted average additional paid-in capital for the quarter ended December 31, 2011, was $620.6 million. The weighted average shares outstanding for the quarter ended December 31, 2011, were 86,817,017. The estimated annual taxable REIT income represents an annualized return on average additional paid-in capital for the quarter of 18.7%. The Company distributes dividends based on its estimate of taxable earnings per common share, not based on earnings calculated in accordance with Generally Accepted Accounting Principles (GAAP). Taxable REIT income and GAAP earnings will differ primarily because of the non-taxable unrealized changes in the value of the Company's derivatives, which the company uses as hedges. These unrealized losses are included in GAAP earnings whereas, unrealized valuation changes are not included in taxable income.


Estimated Core Income for the quarter ended December 31, 2011, was approximately $18.8 million. During Q4 2011 the Company sold approximately $1.1 billion in Agency Hybrid mortgages resulting in approximately $10.2 million in gains. The difference




The following information was filed by Armour Residential Reit, Inc. (ARR) on Tuesday, March 6, 2012 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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