Research Desk Line-up: Five Oaks Investment Post Earnings Coverage
LONDON, UK / ACCESSWIRE / November 22, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on ARMOUR Residential REIT, Inc. (NYSE: ARR) ("ARMOUR"), which can be viewed by registering at http://protraderdaily.com/optin/'symbol=ARR, following the Company's reporting of its financial results on October 25, 2017, for the third quarter fiscal 2017 (Q3 FY17). The Vero Beach, Florida-based Company's core income per common share grew on a year-over-year basis, topping market consensus estimates. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:
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Get more of our free earnings reports coverage from other constituents of the REIT - Residential industry. Pro-TD has currently selected Five Oaks Investment Corp. (NYSE: OAKS) for due-diligence and potential coverage as the Company announced on November 06, 2017, its financial results for Q3 2017 which ended on September 30, 2017. Register for a free membership today, and be among the early birds that get access to our report on Five Oaks Investment when we publish it.
At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on ARR; also brushing on OAKS. With the links below you can directly download the report of your stock of interest free of charge at:
http://protraderdaily.com/optin/'symbol=ARR
http://protraderdaily.com/optin/'symbol=OAKS
Earnings Reviewed
In Q3 FY17, ARMOUR's interest income came in at $66.78 million compared to $58.36 million in the quarter ended September 30, 2016. The Company's interest expenses increased during the reported quarter to $27.14 million from $17.04 million in the previous year's comparable quarter. Furthermore, net interest income for Q3 FY17 stood at $39.64 million, which was lower than $41.33 million reported in the year-ago corresponding quarter.
For the quarter ended September 30, 2017, the Company reported net income available to common stockholders of $23.78 million, or $0.58 per common diluted share, compared to $114.78 million, or $3.12 per common diluted share, in Q3 FY16. ARMOUR's core income available to common stockholders for Q3 FY17 stood at $28.7 million, or $0.69 per common share. Moreover, the Company's core income topped market consensus estimates of $0.66 per common share.
Operating Metrics
During Q3 FY17, Agency securities, net of amortization of premium and fees, was $52.29 million compared to $44.54 million in the last year's comparable quarter. Credit risk and non-agency securities, including discount accretion, for the reported was $13.97 million, up from $12.97 million in Q3 FY16.
The real estate investment trust's Q3 FY17 annualized stockholders' equity return was 10.1%, while economic return on equity was 3.2% as dividend per common share. The company's book value increased by 1.1% during Q3 FY17. As of October 23, 2017, the Company's book value was $26.48, which was 1.7% lower than the value recorded as on September 30. 2017. Furthermore, funded leverage ratio was 5.5 to 1, while unfunded TBA positions results in leverage of 7.0 to 1.
ARMOUR's mortgage securities were $8.1 billion as on September 30,2017, which included $1.0 billion of credit risk and non-agency securities. The notional amount TBA (to-be-announced) Agency Securities has a notional amount of $1.9 billion. Furthermore, interest rate swaps notional amount stood at $5.1 billion as on September 30,2017.
Dividend and Share Buyback
In a separate press release on October 25, 2017, ARMOUR's Board of Directors declared a cash dividend of $0.19 per share of common stock for the month of November 2017. The dividend is payable on November 27, 2017, to common stockholders of record as of November 15, 2017.
Stock Performance
On Tuesday, November 21, 2017, the stock closed the trading session at $25.20, climbing 1.53% from its previous closing price of $24.82. A total volume of 463.00 thousand shares have exchanged hands. ARMOUR Residential REIT's stock price surged 12.65% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have rallied 16.18%. The stock is trading at a PE ratio of 4.98 and has a dividend yield of 9.05%. At Tuesday's closing price, the stock's net capitalization stands at $1.05 billion.
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