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Mar 31, 2025
ARMOUR Residential REIT Q1 2025 Earnings Report
ARMOUR Residential REIT reported its Q1 2025 operating results and financial position.
Key Takeaways
ARMOUR Residential REIT reported a GAAP net income of $24.3 million, or $0.32 per common share, and Distributable Earnings of $64.6 million, or $0.86 per common share, for Q1 2025. The company's total assets increased to $15.4969 billion, and total stockholders' equity rose to $1.7038 billion.
GAAP net income available to common stockholders was $24.3 million, or $0.32 per common share.
Distributable Earnings available to common stockholders reached $64.6 million, or $0.86 per common share.
The company's book value per common share was $18.59 at March 31, 2025.
Total economic return for Q1 2025 was 1.26%, reflecting the change in book value plus common dividends paid.
Forward Guidance
ARMOUR's Board of Directors will determine future common dividend rates based on an evaluation of the Company's results, financial position, REIT tax requirements, and overall market conditions. The company forecasts that Series C Preferred Stock dividends for 2025 will likely be treated as fully taxable ordinary income, and common stock dividends for 2025 will likely be treated, at least partially, as taxable ordinary income.
Positive Outlook
- The company continues to pay monthly common stock dividends of $0.24 per share.
- The company continues to pay monthly Series C Preferred Stock dividends of $0.14583 per share.
- Future common dividend rates will be determined based on a comprehensive evaluation of financial performance and market conditions.
- The company is committed to maintaining its REIT tax status by timely distributing ordinary REIT taxable income.
- The company has a clear dividend payment schedule for both common and preferred stock for the upcoming months.
Challenges Ahead
- Series C Preferred Stock dividends for 2025 are likely to be fully taxable ordinary income.
- Common stock dividends for 2025 are likely to be at least partially taxable ordinary income.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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