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Armour Residential Reit, Inc. (ARR) SEC Filing 10-Q Quarterly Report for the period ending Wednesday, March 31, 2021

Armour Residential Reit, Inc.

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CIK: 1841341 Ticker: ARR

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ARMOUR RESIDENTIAL REIT, INC. ANNOUNCES
DECEMBER 31, 2020 FINANCIAL POSITION AND Q4 RESULTS

VERO BEACH, Florida -- February 17, 2021 -- ARMOUR Residential REIT, Inc. (NYSE: ARR and ARR PRC) (“ARMOUR” or the “Company”) today announced the Company's December 31, 2020 financial position and Q4 results.
December 31, 2020 Financial Position
◦ARMOUR's stockholders' equity totaled $938 million, including:
▪Common stock outstanding of 65,290,733 shares, and
▪7.00% Cumulative Redeemable Preferred C Stock ("Series C Preferred Stock") with liquidation preference totaling $134 million.
◦ARMOUR's book value per common share was $12.32 per share.
◦ARMOUR's liquidity, including cash and unencumbered agency and U.S. government securities, was $619 million.
◦ARMOUR's portfolio composition was 100% Agency MBS, including To Be Announced ("TBA") Securities.
◦ARMOUR's debt to equity ratio was 4.8 to 1 (based on repurchase agreements divided by stockholders’ equity). Leverage, including TBA Securities, was approximately 7.6 to 1.

Q4 2020 Highlights
◦ARMOUR Comprehensive Income of $60.2 million, or $0.89 per common share, which represents an annualized return of 27% based on stockholders' equity at the beginning of the quarter.
◦ARMOUR Core Income of $23.3 million which represents $0.32 per common share.
◦ARMOUR paid common stock dividends of $0.10 per share per month.

The major drivers of the change in the Company's financial position during Q4 were:
Q4 2020
(in millions)
Stockholders' Equity – Beginning$892.2 
Comprehensive Income (1)
Gain on MBS including TBA Securities11.3 
Gain on interest rate swaps36.5 
Net Interest Income19.5 
Operating Expenses, net of Fee Waiver (2)
(7.1)
Total Comprehensive Income60.2 
Capital Activities
Issuance of Series C Preferred Stock1.0 
Issuance of Common Stock6.8 
Dividends(21.9)
Stockholders' Equity – Ending$938.3 
(1) Includes both realized and unrealized gains and losses.
(2) See discussion on page 2.

- MORE -
The following information was filed by Armour Residential Reit, Inc. (ARR) on Wednesday, February 17, 2021 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.

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Inside Armour Residential Reit, Inc.'s 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover Page
Consolidated Balance Sheets (Unaudited)
Consolidated Balance Sheets (Unaudited) (Parenthetical)
Consolidated Statement Of Stockholders' Equity (Unaudited)
Consolidated Statement Of Stockholders' Equity (Unaudited) (Parenthetical)
Consolidated Statements Of Cash Flows (Unaudited)
Consolidated Statements Of Comprehensive Income (Loss) (Unaudited)
Consolidated Statements Of Operations (Unaudited)
Basis Of Presentation And Consolidation
Commitments And Contingencies
Commitments And Contingencies (Details)
Comprehensive Income (Loss) Per Common Share
Comprehensive Income (Loss) Per Common Share (Details)
Comprehensive Income (Loss) Per Common Share (Tables)
Derivatives
Derivatives (Tables)
Derivatives - Interest Rate Swap Contracts, Swaptions And Futures Contracts (Details)
Derivatives - Location And Information Of Derivatives (Details)
Derivatives - Narrative (Details)
Derivatives - Offsetting Assets (Details)
Derivatives - Offsetting Liabilities (Details)
Derivatives - Tba Agency Securities (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 - 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)
Investments In Securities
Investments In Securities (Tables)
Investments In Securities - Additional Information (Details)
Investments In Securities - Carrying Value Of Trading Securities (Details)
Investments In Securities - Gross Unrealized Losses And Estimated Fair Value Of Available For Sale Securities (Details)
Investments In Securities - Summary Of Investment In Securities (Details)
Investments In Securities - Summary Of Weighted Average Lives Of Available For Sale Securities (Details)
Investments In Securities - Unrealized Gain Or Loss Position And Components Of Carrying Value Of Available For Sale Securities (Details)
Investments In Securities - Weighted Average Lives Of Trading Securities (Details)
Net Income (Loss) Per Common Share
Net Income (Loss) Per Common Share (Details)
Net Income (Loss) Per Common Share (Tables)
Organization And Nature Of Business Operations
Organization And Nature Of Business Operations (Details)
Recent Accounting Pronouncements
Related Party Transactions
Related Party Transactions (Tables)
Related Party Transactions - Additional Information (Details)
Related Party Transactions - Schedule Of Related Party Transactions (Details)
Repurchase Agreements
Repurchase Agreements (Tables)
Repurchase Agreements - Additional Information (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 (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Ticker: ARR
CIK: 1428205
Form Type: 10-Q Quarterly Report
Accession Number: 0001428205-21-000134
Submitted to the SEC: Wed Apr 21 2021 4:20:30 PM EST
Accepted by the SEC: Wed Apr 21 2021
Period: Wednesday, March 31, 2021
Industry: Real Estate Investment Trusts

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