B. Riley Securities Maintains Neutral Rating for ARMOUR Residential REIT: Here's What You Need To Know

B. Riley Securities has decided to maintain its Neutral rating of ARMOUR Residential REIT ARR and raise its price target from $17.00 to $20.00.

Shares of ARMOUR Residential REIT are trading down 0.3% over the last 24 hours, at $16.73 per share.

A move to $20.00 would account for a 19.55% increase from the current share price.

About ARMOUR Residential REIT

ARMOUR Residential REIT Inc is a real estate investment trust that invests in residential mortgage-backed securities or RMBS. These are issued or guaranteed by U.S.-government-sponsored enterprises, such as Fannie Mae, Freddie Mac, or Ginnie Mae. The company's investment portfolio is composed of mortgage-backed securities, adjustable-rate mortgage securities, and multifamily mortgage-backed securities. In terms of total fair value, most Armour's investments are long-term, fixed-rate agency RMBS. Multifamily RMBS also represents a substantial amount. Fannie Mae guarantees most of the company's holdings. Armour derives substantially all its revenue as interest income from its investments.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.