ARMOUR Residential REIT, Inc. (NYSE:ARR) stock lose by 8.25%


Dallas, Texas 08/20/2013 (Financialstrend) – There had been sharp decline in the prices of Real Estate Investment Trust stocks in the markets recently owing to the analysis that the positive data on the economy would result in the Federal Reserve slowing down the monthly bond purchases which is expected to have an aggregate value of $85 billion. Shares of ARMOUR Residential REIT, Inc. (NYSE:ARR) had also been hit in the recent days of trading due to this concern and it had been observed that the stock had lost around 30% in the past three months of trading.

It had further been reported that the residential mortgage REITs are highly susceptible to the risk of the present increase in the short term interest rates. Further it had been noted the United States had added around 195,000 jobs in the month of June 2013 which had resulted in the increase in the yield of 10 year Treasury notes to touch the level of 2.719 percent, the highest yield since August 2011. Further, ARMOUR Residential REIT, Inc. (NYSE:ARR) had recently received a non compliance letter from the New York Stock Exchange commenting that the company had not met the conditions of having majority of independent directors on its board.

ARMOUR Residential REIT, Inc. (NYSE:ARR) had been moving down on Monday to lose around 8.25% in prices and thereby had closed at $3.78 per share. The stock had moved on to present fluctuations in prices in the range of $3.76 to $4.11 per share for the day. The stock had further reported trading volume at 17.34 million shares on the first day of the week, while the company on an average had recorded trading volumes at 5.33 million shares per day. The shares of this company had presently reported the 52 week low of $3.76 and 52 week high of $7.71 per share.