Overview

* ARMOUR Q3 GAAP net income $156.3 mln, $1.49 per share

* Book value per common share rose 3.5% to $17.49

* Company raised $298.6 mln from common stock sale in August

Outlook

* Company did not provide specific guidance for future quarters or full year

Result Drivers

* GAINS ON MBS - Co reports $177.1 mln gain on mortgage-backed securities, contributing to net income

* CAPITAL RAISING - ARMOUR raised $298.6 mln from common stock sale in August, strengthening financial position

* BOOK VALUE INCREASE - Book value per common share rose 3.5% to $17.49, reflecting strategic portfolio management

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 $75.30

Distribu mln

table

Earnings

Q3 Net $38.50

Interest mln

Income

Analyst Coverage

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 5 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the specialized reits peer group is "buy."

* Wall Street's median 12-month price target for ARMOUR Residential REIT Inc ( ARR/PC ) is $18.00, about 12.8% above its October 21 closing price of $15.69

* The stock recently traded at 5 times the next 12-month earnings vs. a P/E of 5 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)