This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

ARMOUR Residential REIT, Inc. Reports Q3 2013 Core Income Of $43.8 Million

Stocks in this article: ARR

VERO BEACH, Fla., Oct. 28, 2013 (GLOBE NEWSWIRE) -- ARMOUR Residential REIT, Inc. (NYSE: ARR, ARR PrA, and ARR PrB; NYSE MKT: ARR.WS) ("ARMOUR" or the "Company") today announced financial results for the quarter ended September 30, 2013.

Third Quarter 2013 Highlights and Financial Information

  • Core Income of approximately $43.8 million or $0.11 per Common share
  • Estimated taxable REIT income of $3.8 million
  • Q3 2013 GAAP net loss of approximately $229.9 million or $0.63 per Common share
  • Stockholders' equity as of September 30, 2013 was $2.2 billion or $5.26 per Common share
  • Ratio of debt to stockholders' equity ("leverage") of 6.93 to 1 as of September 30, 2013
  • Liquidity as of September 30, 2013, consisting of cash and unpledged securities, of $1.3 billion
  • Sales of Agency Securities in Q3 totaled $6.0 billion, resulting in realized capital losses of $301.0 million or $0.81 per common share
  • Q3 2013 average yield on assets of 2.60% and average net interest margin of 1.24%
  • Q3 2013 annualized average principal repayment rate (CPR) of 8.8%
  • Stock outstanding as of September 30, 2013: Common – 370,905,000 shares Series A Preferred – 2,181,000 shares Series B Preferred – 5,650,000 shares
  • Q3 2013 weighted average diluted Common shares were 372,256,000
  • Additional updated information on the Company's investment, financing and hedge positions can be found in the ARMOUR Residential REIT, Inc. October 11, 2013 "Company Update." ARMOUR posts Company Updates each month on .

Q3 2013 Results

Core Income and Taxable REIT Income

Core Income for the quarter ended September 30, 2013, was $43.8 million. "Core Income" represents a non-GAAP measure and is defined as net income excluding impairment losses, gains or losses on sales of securities and early termination of derivatives, unrealized gains or losses on derivatives and U.S. Treasury Securities and certain non-recurring expenses. Core Income may differ from GAAP net income, which includes the unrealized gains or losses of the Company's derivative instruments and the gains or losses on Agency Securities and U.S. Treasury Securities.

1 of 6

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,778.15 +421.28 2.43%
S&P 500 2,061.23 +48.34 2.40%
NASDAQ 4,748.3960 +104.0840 2.24%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs