The stock may react positively to the Distributable Earnings beat, but traders should monitor book value erosion and leverage trends. The upcoming analyst call on April 23 will be critical to assess management's capital deployment strategy amid spread dislocations.
Price Chart
Executive Summary
ARMOUR Residential REIT (ARR) reported Q1 2026 Distributable Earnings of $0.76 per share, beating the $0.74 consensus, driven by strong net interest income and TBA drop income. However, GAAP net loss was $(0.49) per share due to mark-to-market losses on MBS and hedges, and book value declined 6.5% to $17.42. The stock reaction will hinge on investor preference for Distributable Earnings stability versus GAAP volatility.
Key Financial Metrics
Key Facts
- Distributable Earnings per share: $0.76 (vs. $0.74 estimate, +2.7% beat)
- GAAP net loss per share: $(0.49), down from $1.86 in Q4 2025
- Book value per share fell 6.5% to $17.42 from $18.63 in Q4 2025
- Net interest income rose to $70.7 million from $50.4 million
- Raised $215.3 million in common equity and $6.4 million in preferred equity via ATM
- Repurchased 125,000 common shares under buyback program
Financial Impact
Distributable Earnings beat by $0.02/share (+2.7%), net interest income up 40% YoY, but book value down $1.21/share (6.5%)
Risk Factors
- Book value decline of 6.5% raises concerns about portfolio performance and long-term dividend sustainability
- High implied leverage (8.21:1) increases sensitivity to interest rate and MBS market volatility
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3279413 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 21, 2026 5d ago | 8-K | $12.69 $12.88 | ▲ +1.50% | ▲ +2.02% | $12.88 (+1.50%) |
Oct 21, 2026 5d ago | 8-K | $12.69 $12.88 | ▼ −1.50% | ▼ −2.02% | $12.88 (−1.50%) |
Oct 21, 2026 5d ago | Press Release | $12.69 $12.88 | ▼ −1.50% | ▼ −2.02% | $12.88 (−1.50%) |
Oct 20, 2026 6d ago | 8-K | $12.81 $12.69 | ▼ −0.94% | ▲ +0.24% | $12.88 (+0.55%) |
Oct 20, 2026 6d ago | 8-K | $12.81 $12.69 | ▼ −0.94% | ▲ +0.24% | $12.88 (+0.55%) |
Oct 20, 2026 6d ago | Press Release | $12.81 $12.69 | ▼ −0.94% | ▲ +0.24% | $12.88 (+0.55%) |
Oct 20, 2026 6d ago | Press Release | $12.81 $12.69 | ▼ −0.94% | ▲ +0.24% | $12.88 (+0.55%) |
Oct 1, 2026 25d ago | Press Release | $13.59 $13.53 | ▼ −0.44% | ▼ −1.12% | $12.88 (−5.22%) |
Sep 24, 2026 4w ago | 8-K | $14.10 $13.98 | ▼ −0.85% | ▼ −0.11% | $12.88 (−8.65%) |
Sep 24, 2026 4w ago | Press Release | $14.10 $13.98 | ▼ −0.85% | ▼ −0.11% | $12.88 (−8.65%) |
US Market Status
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