Dallas, Texas 03/31/2014 (FINANCIALSTRENDS) – ARMOUR Residential REIT, Inc. (NYSE:ARR), in its latest update to its investors and shareholders has once again highlighted the focus the company has on building-out the management and the strategy-making sections.
ARMOUR Residential REIT, Inc. (NYSE:ARR) has announced that it continues to review the current corporate practices in the company through Board of Directors’ reviewing across the processes of the company. In pursuance, the company announced that it has chosen an independent director as the lead independent director.
ARMOUR Residential REIT, Inc. (NYSE:ARR) has reported that henceforth, Mr.Thoma K.Guba, will assume the position of lead independent director, from March 5, 2014. Separately, analysts have downgraded most mortgage based REITs. Downgrade galore ARMOUR Residential REIT, Inc. (NYSE:ARR) too was part of requiem of mortgage based real-estate investment companies which saw downgrade.
The analyst sentiment this time around has been to mark not just ARMOUR Residential REIT, Inc. (NYSE:ARR) but American Capital Agency, Anworht Mortgage as well as Hatteras, beside Wsetern Asset Mortgage. All of these companies have now been moved from a Hold position to a Buy. The downgrades began in the last week of the month of March and there has been gaining since for this sector. It was just a few days, in the second week of March that this sector was seeing high momentum give the lean- look the Feds were aiming to introduce.
Where banks and other investment channels such as banks and life insurers were not too pleased with the Federal likely new checks, the mortgage investors remained largely silent on the issue. The FOMC statement as well as the projects on the rate hikes have definitely disappointed both the insurance service provides as well as banks.
US-based Armous Residential REIT Inc, has its operations spread across the country and is interested in sectors such as hybrid adjustable raes as well as fixed rate residential mortgage backed securities. The company has been issuing guarantees provided by the government, including dealing with Freddie Mae as well as Fannie Mae.