DALLAS, TEXAS : StockGuru announces that ARMOUR Residential REIT Inc. (OTCBB: AMRR) is in the StockGuru Spotlight. ARMOUR is a Maryland corporation that invests primarily in hybrid adjustable rate, adjustable rate and fixed rate residential mortgage-backed securities, or RMBS, issued or guaranteed by U.S. Government-chartered entities. ARMOUR is externally managed and advised by ARMOUR RESIDENTIAL MANAGEMENT LLC (”ARRM”). ARMOUR Residential REIT, Inc. intends to qualify to be taxed as a real estate investment trust (”REIT”) for U.S. federal income tax purposes, commencing with ARMOUR’s taxable year ending December 31, 2009.
On Thursday, the company put out news announcing financial results for the quarter ended March 31, 2010. REIT taxable earnings for the three-months ended March 31, 2010, were approximately $0.40 per common share outstanding or approximately $0.92 million. The Company distributes dividends based on its estimate of taxable earnings per common share, not GAAP (generally accepted accounting principles) earnings. REIT taxable earnings and GAAP earnings will differ primarily because the non-taxable unrealized changes in the value of the Company’s interest rate hedges are included in GAAP earnings whereas, because they are not realized, hedge valuation changes are not included in taxable earnings.
Shares for ARMOUR Residential REIT Inc. (OTCBB: AMRR) were down during the afternoon of trading on Thursday and closed down fifteen cents at closing.
To view our StockGuru Spotlight on ARMOUR Residential REIT Inc. (OTCBB: AMRR), please visit:
http://www.stockguru.com
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