ARMOUR Residential REIT, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2024
April 25, 2024 at 04:19 pm EDT
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ARMOUR Residential REIT, Inc. reported earnings results for the first quarter ended March 31, 2024. For the first quarter, the company reported net income was USD 14.52 million compared to net loss of USD 31.36 million a year ago. Basic earnings per share from continuing operations was USD 0.24 compared to basic loss per share from continuing operations of USD 0.95 a year ago.
Diluted earnings per share from continuing operations was USD 0.24 compared to diluted loss per share from continuing operations of USD 0.95 a year ago.
ARMOUR Residential REIT, Inc. is a real estate investment trust. The Company brings private capital into the mortgage markets to support home ownership for a broad and diverse spectrum of Americans. The Company seeks to create stockholder value through thoughtful investment and risk management of a leveraged and diversified portfolio of mortgage backed securities (MBS). It prioritizes maintaining common share dividends appropriate for the intermediate term rather than focusing on short-term market fluctuations. It invests in MBS, issued or guaranteed by a United States Government-sponsored entity (GSE), such as the Federal National Mortgage Association (Fannie Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac), or a government agency such as Government National Mortgage Administration (Ginnie Mae) (collectively, Agency Securities). Its Agency Securities consist of fixed rate loans. The Company is managed by ARMOUR Capital Management LP, an investment advisor.