Last10K.com

Armour Residential Reit, Inc. (ARR) SEC Filing 10-Q Quarterly report for the period ending Sunday, September 30, 2018

Armour Residential Reit, Inc.

CIK: 1428205 Ticker: ARR

logoa19.jpg


ARMOUR RESIDENTIAL REIT, INC. REPORTS FINANCIAL RESULTS
FOR THE QUARTER ENDED SEPTEMBER 30, 2018

GAAP INCOME OF $47.7 MILLION, OR $1.02 PER COMMON SHARE
CORE INCOME OF $31.2 MILLION, OR $0.64 PER COMMON SHARE


VERO BEACH, Florida -- October 24, 2018 -- ARMOUR Residential REIT, Inc. (NYSE: ARR, ARR PrA, and ARR PrB) (“ARMOUR” or the “Company”) today announced financial results for the quarter ended September 30, 2018.

Q3 2018 Highlights and Financial Information
$47.7 million ($1.02 per Common share) net income under Generally Accepted Accounting Principles (“GAAP”) based on 42,435,624 weighted average diluted Common shares outstanding
$31.2 million ($0.64 per Common share) Core Income including “Drop Income” (as defined below), which represents an annualized return of 10.3% based on stockholders’ equity at the beginning of the quarter
$0.57 per share Common dividends for Q3 at the rate of $0.19 per month
Core Income exceeded dividends paid for the ninth straight quarter
3.5% average yield on assets and 1.6% average net interest margin
6.1% annualized average principal repayment rate (“CPR”)
1.6% total economic return, representing dividends plus change in stockholders' equity per Common share
0.9% total shareholder return, representing dividends plus change in New York Stock Exchange price per Common share

At September 30, 2018
$22.45 NYSE closing price per Common share
$1.2 billion stockholders’ equity based on period-end stock outstanding of:
42,335,525 shares of Common Stock
2,180,572 shares of 8.250% Series A Cumulative Redeemable Preferred (“Preferred A”)
6,369,269 shares of 7.875% Series B Cumulative Redeemable Preferred (“Preferred B”)
$23.49 stockholders’ equity per Common share, a decrease of (0.8)% from June 30, 2018
$8.0 billion portfolio of securities, including $0.9 billion of Credit Risk and Non-Agency Securities
$1.3 billion notional amount of (“to-be-announced”) TBA Agency Securities, includes $0.1 billion notional amount of forward settling TBA Agency Securities
$7.1 billion notional amount of interest rate swaps
5.97 to 1 “leverage” (debt to stockholders’ equity); 7.01 to 1 “implied leverage,” reflecting net TBA Agency Securities purchased forward and excluding debt related to forward settling sales
$639.3 million of liquidity in cash and unpledged securities (52.9% of stockholders’ equity)


Updated Information
Common dividends per share - $0.19 payable on October 29, 2018, and on November 27, 2018, as discussed below
Book value at October 23, 2018, was estimated to be $22.42 per Common share outstanding
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, October 24, 2018 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one quarter to another to evaluate Armour Residential Reit, Inc.'s financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Armour Residential Reit, Inc..

Continue

Assess how Armour Residential Reit, Inc.'s management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
Screenshot example of actual Proxy Statement

Armour Residential Reit, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2018 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

Continue

SEC Filing Tools

Rating

Learn More
Bullish Bearish Neutral
Filter Sentiment:
All
Positive
Negative
Filter Category:
All
Financial
Revenue
Other
Filter Subcategory:
All
Shares
Product
Dividend
Income
Debt
Earnings
Expense
Geography
Other
Inside Armour Residential Reit, Inc.'s 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parentheticals)
Consolidated Statement Of Stockholders' Equity
Consolidated Statement Of Stockholders' Equity (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income (Loss)
Consolidated Statements Of Operations
Agency Securities
Agency Securities - Additional Information (Details)
Agency Securities - Gross Unrealized Losses And Estimated Fair Value Of Agency Securities (Details)
Agency Securities - Summary Of Weighted Average Lives Of Agency Securities (Details)
Agency Securities - Unrealized Gain Or Loss Position And Components Of Carrying Value Of Available For Sale Agency Securities (Details)
Agency Securities, Available For Sale (Tables)
Basis Of Presentation And Calculation
Commitments And Contingencies
Commitments And Contingencies (Details)
Credit Risk And Non-Agency Securities
Credit Risk And Non-Agency Securities (Tables)
Credit Risk And Non-Agency Securities - Additional Information (Details)
Credit Risk And Non-Agency Securities - Carrying Value Of Non-Agency Securities (Details)
Credit Risk And Non-Agency Securities - Weighted Average Life Of All Non-Agency Securities (Details)
Derivatives
Derivatives (Tables)
Derivatives - Interest Rate Swap Contracts, Swaptions And Futures Contracts (Details)
Derivatives - Location And Information Of Derivatives (Details)
Derivatives - Offsetting Assets (Details)
Derivatives - Offsetting Liabilities (Details)
Fair Value Of Financial Instruments
Fair Value Of Financial Instruments (Tables)
Fair Value Of Financial Instruments - Additional Information (Details)
Fair Value Of Financial Instruments - Carrying Values And Fair Values Of Financial Assets And Liabilities (Details)
Fair Value Of Financial Instruments - Schedule Of Level 3 Assets (Details)
Fair Value Of Financial Instruments - Summary Of Assets And Liabilities Measured At Fair Value On A Recurring Basis (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes - Additional Information (Details)
Income Taxes - Net Capital Losses Realized (Details)
Income Taxes - Reconciliation Of Gaap Net Income To Estimated Reit Taxable Income (Details)
Interest Rate Risk
Net Income Per Common Share
Net Income Per Common Share (Details) - Reconciliation Of Net Income (Loss) And Shares Used In Calculating Basic And Diluted Earnings Per Share
Net Income Per Common Share (Tables)
Organization And Nature Of Business Operations
Recent Accounting Pronouncements
Related Party Transactions
Related Party Transactions (Details)
Repurchase Agreements
Repurchase Agreements (Tables)
Repurchase Agreements - Additional Information (Details)
Repurchase Agreements - Contractual Repricing On Repurchase Agreements (Details)
Repurchase Agreements - Repurchase Agreements By Maturity Period (Details)
Stock Based Compensation
Stock Based Compensation (Tables)
Stock Based Compensation - Additional Information (Details)
Stock Based Compensation - Restricted Shares (Details)
Stockholders' Equity
Stockholders' Equity (Tables)
Stockholders' Equity - Additional Information (Details)
Stockholders' Equity - Dividend Transactions (Details)
Stockholders' Equity - Equity Capital Raising Activities (Details)
Stockholders' Equity - Schedule Of Stockholders' Equity (Details)
Subsequent Events
Subsequent Events - Additional Information (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
U.S. Treasury Securities
U.S. Treasury Securities (Tables)
U.S. Treasury Securities - Unrealized Gain Or (Loss) Position (Details)
U.S. Treasury Securities - Unrealized Losses And Estimated Fair Value (Details)
Ticker: ARR
CIK: 1428205
Form Type: 10-Q Quarterly Report
Accession Number: 0001428205-18-000263
Submitted to the SEC: Wed Oct 24 2018 4:29:15 PM EST
Accepted by the SEC: Wed Oct 24 2018
Period: Sunday, September 30, 2018
Industry: Real Estate Investment Trusts

External Resources:
Stock Quote
Social Media

Bookmark the Permalink:
https://last10k.com/sec-filings/arr/0001428205-18-000263.htm