Armour Residential REIT slips on pricing $302 mln stock offering

ARMOUR Residential REIT

06/08/2025 12:17

** Shares of Armour Residential REIT ARR.N down 2.8% premarket to $16.33 after follow-on prices

** Vero Beach, Florida-based firm says sold 18.5 shares for total gross proceeds of about $302.5 mln

** Offering priced at $16.35, 2.7% discount to stock's last close

** It intends to use net proceeds to acquire additional mortgage-backed securities and other mortgage-related assets issued or guaranteed by U.S. Government-sponsored enterprises or guaranteed by the Government National Mortgage Association (Ginnie Mae)

** Goldman Sachs sole bookrunner for the offering

** ARR has ~91.59 mln shares outstanding for $1.5 bln market cap

** Through Tues, ARR shares down 11% YTD

** 1 of 6 analysts rates ARR "strong buy", 5 rate "hold" and median PT is $18, per LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))