Armour Residential Reit, Inc. (ARR) 10-K Annual Report February 2017

VERO BEACH, Florida - - February 15, 2017 -- ARMOUR Residential REIT, Inc. (NYSE: ARR, ARR PrA, and ARR PrB) (“ARMOUR” or the “Company”) today announced financial results for the quarter ended December 31, 2016.

Q4 2016 Highlights and Financial Information


•	Q4 2016 key results:


◦	$94.1 million ($2.46 per Common share) net income under Generally Accepted Accounting Principles (“GAAP”)


◦	$30.0 million ($0.71 per Common share) Core Income including “drop income” (as defined below), which represents an annualized return of 9.8% based on stockholders’ equity at the beginning of the quarter


◦	$0.66 per share Common dividends for Q4 at the rate of $0.22 per month


◦	2.72% average yield on assets and 1.40% average net interest margin


◦	11.15% annualized average principal repayment rate (“CPR”)


◦	36,745,000 (approximately) weighted average diluted Common shares outstanding


•	At December 31, 2016:


◦	$1.09 billion stockholders’ equity


◦	$24.39 stockholders’ equity per Common share


◦	$21.69 NYSE closing price per Common share; represents total shareholder return of 15.2% for 2016 including reinvested dividends


◦	$7.6 billion portfolio of mortgage securities, including $1.1 billion of Non-Agency Securities


◦	$2.9 billion notional amount of (“to-be-announced”) TBA Agency Securities


◦	$4.2 billion notional amount of interest rate swaps


◦	6.24 to 1 “leverage” (debt to stockholders’ equity)


▪	8.92 to 1 “implied leverage,” reflecting TBA Agency Securities purchased forward and excluding debt related to forward settling sales


◦	$517.8 million of liquidity in cash and unpledged securities (47.41% of stockholders’ equity)


◦	Stock outstanding:

▪36,723,579 shares of Common Stock

▪2,180,572 shares of Series A Cumulative Redeemable Preferred

▪5,650,000 shares of Series B Cumulative Redeemable Preferred

Updated Information


•	Common dividends per share - $0.19 paid on January 30, 2017, and $0.19 declared by the Company’s board of directors for February, as discussed below


•	Book value at January 31, 2017, was estimated to be $24.59 per Common share


•	Additional updated information on the Company’s investment, financing and hedge positions can be found in ARMOUR Residential REIT, Inc.’s most recent “Company Update.” ARMOUR posts unaudited and unreviewed Company Updates on www.armourreit.com.

- MORE -

The following information was filed by Armour Residential Reit, Inc. (ARR) on Wednesday, February 15, 2017 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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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Material Contracts, Statements, Certifications & more

Armour Residential Reit, Inc. provided additional information to their SEC Filing as exhibits

Exhibit 10.5: Material Contract

Exhibit 12.1: Statement Regarding Calculation Of Ratios

Exhibit 21.1: Subsidaries Of The Registrant

Exhibit 23.1: Consents Of Experts And Counsel

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.3: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

Exhibit 32.2: Section 1350 Certification

Exhibit 32.3: Section 1350 Certification

Ticker: ARR
CIK: 1428205
Form Type: 10-K Annual Report
Accession Number: 0001428205-17-000035
Submitted to the SEC: Wed Feb 15 2017 4:34:50 PM EST
Accepted by the SEC: Wed Feb 15 2017
Period: Saturday, December 31, 2016
Industry: Real Estate Investment Trusts

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Armour Residential Reit, Inc. (ARR) SEC Filing 10-K Annual report for the fiscal year ending Saturday, December 31, 2016

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