ARMOUR Residential REIT, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
October 25, 2023 at 04:24 pm EDT
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ARMOUR Residential REIT, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported net loss was USD 179.17 million compared to USD 144.32 million a year ago. Basic loss per share from continuing operations was USD 3.92 compared to USD 5.98 a year ago. Diluted loss per share from continuing operations was USD 3.92 compared to USD 5.98 a year ago.
For the nine months, net loss was USD 167.57 million compared to USD 269.34 million a year ago. Basic loss per share from continuing operations was USD 4.3 compared to USD 12.8 a year ago. Diluted loss per share from continuing operations was USD 4.3 compared to USD 12.8 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.