Raytheon awarded $71 million in Navy contracts for missile systems
VERO BEACH, Florida - ARMOUR Residential REIT, Inc. (NYSE:ARR), a $1.84 billion market cap mortgage REIT, announced Tuesday it has commenced an underwritten public offering of 18.5 million shares of common stock. According to InvestingPro data, the company’s stock has shown resilience with a 0.47% total return over the past year.
The mortgage real estate investment trust said it will grant underwriters a 30-day option to purchase up to an additional 2.775 million shares. Goldman Sachs & Co. LLC is serving as the sole bookrunner for the offering, with BUCKLER Securities LLC acting as co-manager.
ARMOUR intends to use the net proceeds to acquire additional mortgage-backed securities and other mortgage-related assets in line with its investment strategies, according to the company’s statement.
The offering is being made through a prospectus supplement and accompanying base prospectus filed with the Securities and Exchange Commission.
ARMOUR primarily invests in fixed rate residential, adjustable rate and hybrid adjustable rate residential mortgage-backed securities issued or guaranteed by U.S. Government-sponsored enterprises or guaranteed by the Government National Mortgage Association.
The company, which has elected to be taxed as a real estate investment trust, is externally managed by ARMOUR Capital Management LP, an SEC-registered investment advisor.
ARMOUR noted that actual dividends are determined at the discretion of its Board of Directors, which considers factors including operational results, cash flows, financial condition, and capital requirements.
The announcement was made in a press release statement issued by the company.
In other recent news, Armour Residential REIT Inc. reported its financial results for the second quarter of 2025, falling short of analyst expectations. The company posted an earnings per share (EPS) of $0.77, which was below the forecasted $0.82, resulting in a surprise of -6.1%. Revenue for the quarter was $67.9 million, also missing the expected $78.66 million, marking a revenue surprise of -13.68%. Additionally, Armour Residential REIT announced an increase in its at-the-market offering by 9.5 million shares. This amendment, detailed in a filing with the Securities and Exchange Commission, brings the total number of shares available for sale to 17,732,711. The updated equity sales agreement involves several sales agents, including BUCKLER Securities LLC and B. Riley Securities, Inc. These developments reflect the company’s recent strategic and financial activities.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.