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Armour Residential Reit, Inc. (ARR) SEC Filing 10-Q Quarterly Report for the period ending Friday, June 30, 2023

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Armour Residential Reit, Inc.

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CIK: 1428205 Ticker: ARR

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ARMOUR RESIDENTIAL REIT, INC. ANNOUNCES
Q1 RESULTS AND MARCH 31, 2023 FINANCIAL POSITION


VERO BEACH, Florida -- April 26, 2023 -- ARMOUR Residential REIT, Inc. (NYSE: ARR and ARR PRC) (“ARMOUR” or the “Company”) today announced the Company's Q1 results and March 31, 2023 financial position.

ARMOUR's Q1 2023 Results
◦Comprehensive loss related to common stockholders of $(22.8) million or $(0.12) per common share.
◦Net interest income of $12.0 million and net interest margin of 1.97%.
◦Distributable Earnings available to common stockholders of $49.3 million, which represents $0.27 per common share (see explanation of this non-GAAP measure on page 3).
◦Paid common stock dividends per share of $0.10 for January, $0.10 for February and $0.08 for March.
◦Raised $181.2 million of capital by issuing 29,862,647 shares of common stock, which represents $6.07 net proceeds per share, after fees and expenses, through an at the market offering program.
◦Repurchased 842,927 shares of common stock, which represents an average cost of $5.11 per share, pursuant to existing authorization.

ARMOUR's March 31, 2023 Financial Position
◦Book value per common share of $5.44 resulting from:
Book Value, December 31, 2022
$5.78 
Comprehensive loss per common share(0.12)
Less: Common dividends per common share(0.28)
Equity Capital Activities, net0.06 
Book Value, March 31, 2023
$5.44 
◦Liquidity, including cash and unencumbered agency and U.S. government securities, of $550.2 million.
◦Portfolio composition was 100% Agency mortgage-backed securities ("MBS").
◦Debt to equity ratio of 8.7 to 1 (based on repurchase agreements divided by total stockholders’ equity).
◦Interest Rate swap contracts totaled $8.0 billion of notional amount, representing 76% of total repurchase agreement liabilities.
◦Increased affiliate BUCKLER Securities LLC ("BUCKLER") capital to $203 million (see page 6).


- MORE -
The following information was filed by Armour Residential Reit, Inc. (ARR) on Wednesday, April 26, 2023 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 Statements Of Cash Flows (Unaudited)
Consolidated Statements Of Cash Flows (Unaudited) (Parenthetical)
Consolidated Statements Of Operations And Comprehensive Income (Loss) (Unaudited)
Consolidated Statements Of Operations And Comprehensive Income (Loss) (Unaudited) (Parenthetical)
Basis Of Presentation And Consolidation
Commitments And Contingencies
Commitments And Contingencies (Tables)
Commitments And Contingencies - Narrative (Details)
Commitments And Contingencies - Schedule Of Contractual Management Fee Commitments Obligation (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 - Additional Information (Details)
Derivatives - Schedule Of Derivative Instruments (Details)
Derivatives - Schedule Of Derivative Instruments, Gain (Loss) (Details)
Derivatives - Schedule Of Offsetting Assets (Details)
Derivatives - Schedule Of Offsetting Liabilities (Details)
Derivatives - Schedule Of 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 - Schedule Of Fair Value, Assets And Liabilities Measured On Recurring Basis (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes - Additional Information (Details)
Income Taxes - Schedule Of Effective Income Tax Rate Reconciliation (Details)
Income Taxes - Schedule Of Tax Credit Carryforwards (Details)
Investment In Securities - Schedule Of Investments Classified By Contractual Maturity Date (Details)
Investments In Securities
Investments In Securities (Tables)
Investments In Securities - Additional Information (Details)
Investments In Securities - Schedule Of Available-For-Sale Securities In An Unrealized Gain Or Loss Position (Details)
Investments In Securities - Schedule Of Available-For-Sale Securities, Continuous Unrealized Loss Position, Fair Value (Details)
Net Income (Loss) Per Common Share
Net Income (Loss) Per Common Share (Tables)
Net Income (Loss) Per Common Share - (Details)
Organization And Nature Of Business Operations
Organization And Nature Of Business Operations (Details)
Related Party Transactions
Related Party Transactions (Tables)
Related Party Transactions - Additional Information (Details)
Related Party Transactions - Schedule Of Related Party Transactions (Details)
Repurchase Agreements, Net
Repurchase Agreements, Net (Tables)
Repurchase Agreements, Net - Additional Information (Details)
Repurchase Agreements, Net - Schedule Of Repurchase Agreements (Details)
Repurchase Agreements, Net - Schedule Of Reverse Repurchase Agreements Gross And Net Securities Purchased And Sold (Details)
Stock Based Compensation
Stock Based Compensation (Tables)
Stock Based Compensation - Additional Information (Details)
Stock Based Compensation - Schedule Of Nonvested Restricted Stock Units Activity (Details)
Stockholders' Equity
Stockholders' Equity (Tables)
Stockholders' Equity - Additional Information (Details)
Stockholders' Equity - Schedule Of Dividends Payable (Details)
Stockholders' Equity - Schedule Of Dividends Transactions (Details)
Stockholders' Equity - Schedule Of Equity Transactions (Details)
Subsequent Events
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Details)
Summary Of Significant Accounting Policies (Policies)
Ticker: ARR
CIK: 1428205
Form Type: 10-Q Quarterly Report
Accession Number: 0001428205-23-000144
Submitted to the SEC: Wed Jul 26 2023 4:35:10 PM EST
Accepted by the SEC: Wed Jul 26 2023
Period: Friday, June 30, 2023
Industry: Real Estate Investment Trusts

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