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Agency mortgage REIT that borrows short-term to buy government-backed residential mortgage bonds for the yield spread.
Agency mortgage REIT that borrows short-term to buy government-backed residential mortgage bonds for the yield spread.
Earns the difference between what its mortgage securities pay and what it pays to borrow, using short-term repurchase loans (borrowing against the securities as collateral) and leverage. Government agencies guarantee the securities, so the risk is price moves and funding costs rather than borrower defaults. An outside manager is paid fees from the REIT.
Moat: none. Commodity spread business; returns depend on rates, spreads and leverage, not a durable edge.
Headquarters: Vero Beach, Florida, US · Founded: 2008 · Employees: 20
Size ARMOUR Residential REIT (ARR) is a United States Real Estate company (Real Estate Investment Trusts) with a market value of $1.87B, the 1843rd largest of 3,117 United States companies the cockpit tracks. Shares closed at $12.60 on 6 Nov 2026.
Performance Over six months the shares fell 28.5%, against -8.9% for the median peer and -1.1% for the United States market (cap-weighted) — 3rd lowest of 21 in its peer set.
Growth Revenue fell 140.0% over the last twelve months (peer median +4.0%).
Valuation It trades at 0.80× book value against a peer median of 0.91× (9th cheapest of 21).
Price implies The share price implies a return on equity of about 10.2%; ARMOUR Residential REIT delivers -2.3%, so the price asks more than the business earns today.
Short interest Short interest is 11.7% of the free float (15 Oct 2026).
Next results Next results expected around 17 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | -$293M | $1.31B | $240M | $450M | -$878M |
| Revenue growth | — | +444% | -47% | — | — |
| Gross profit | -$341M | $1.27B | $207M | $418M | -$904M |
| EBITDA | $690M | $965M | $510M | $458M | -$105M |
| Net income | -$52.1M | $323M | -$14.4M | -$67.9M | -$230M |
| Free cash flow | $456M | $124M | $261M | $133M | $124M |
| Capital expenditure | $0 | $0 | $0 | $0 | $0 |
| Total debt | $19.4B | $17.9B | $10.7B | $9.65B | $6.46B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| ARMOUR Residential REIT ARR | $1.87B | -29% | -140% | -2% | 0.80× | 10.2% |
| AGNC Investment AGNC | $11.2B | -19% | +152% | 1% | 1.15× | 13.1% |
| Annaly Capital Management NLY | $14.8B | -17% | +23% | 7% | 1.05× | 11.8% |
| Orchid Island Capital ORC | $953M | -30% | +83% | -1% | 0.82× | 11.3% |
| Dynex Capital DX | $2.77B | -20% | +142% | -2% | 0.98× | 9.6% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | ARR | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -6.5% | +2.9% | lowest of 21 |
| 6-month return | -28.5% | -8.9% | 3rd lowest of 21 |
| Return on equity | -2.3% | 6.9% | 4th lowest of 21 |
| Price / book | 0.80× | 0.91× | 9th cheapest of 21 |
| ROE the price implies | 10.2% | 6.8% | 4th most demanding of 21 |
| ROE delivered | -2.3% | 6.8% | 4th lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| ARMOUR Residential REIT ARR | United States | $1.87B | -29% | -140% | -2% | 0.80× | 10.2% | -2.3% |
| Region RGN.AX | Australia | $1.89B | +6% | +30% | 9% | 0.92× | 9.4% | 9.2% |
| Blackstone Mortgage Trust BXMT | United States | $1.85B | -42% | -2% | -12% | 0.65× | 7.3% | -11.7% |
| Great Portland Estates GPE.L | United Kingdom | $1.90B | +17% | +24% | 7% | 0.66× | 9.9% | 7.5% |
| Activia Properties 3279.T | Japan | $1.90B | -10% | +24% | 6% | 1.12× | 5.6% | 5.9% |
| Getty Realty GTY | United States | $1.92B | -14% | +11% | 9% | 1.50× | 11.2% | 8.9% |
| RLJ Lodging Trust RLJ | United States | $1.92B | +40% | +1% | 1% | 1.07× | 11.2% | 1.3% |
| H&R Real Estate Investment Trust HR-UN.TO | Canada | $1.80B | -10% | -6% | -13% | 0.60× | 6.3% | -12.8% |
| Champion Real Estate Investment Trust 2778.HK | Hong Kong | $1.80B | -8% | -8% | -3% | 0.35× | 4.6% | -2.6% |
| Charter Hall Long WALE REIT CLW.AX | Australia | $1.78B | +4% | +40% | 8% | 0.76× | 9.2% | 8.3% |
| Sekisui House Reit 3309.T | Japan | $1.78B | -23% | +5% | 7% | 0.97× | 5.3% | 7.4% |
| Xenia Hotels & Resorts XHR | United States | $1.97B | +26% | +4% | 0% | 1.80× | 17.3% | 0.3% |
| Mitsui Fudosan Logistics Park 3471.T | Japan | $2.00B | -13% | +156% | 5% | 0.99× | 5.0% | 4.6% |
| Mitsui Fudosan Accommodations Fund 3226.T | Japan | $1.75B | -16% | +18% | 9% | 1.79× | 6.3% | 8.6% |
| Daiwa Office Investment 8976.T | Japan | $1.74B | -12% | +24% | 6% | 1.13× | 4.7% | 6.3% |
| BWP Trust BWP.AX | Australia | $2.01B | -2% | +2% | 13% | 0.86× | 7.4% | 13.2% |
| Eurocommercial Properties ECMPA.AS | Netherlands | $1.72B | -7% | +1% | 9% | 0.64× | 5.0% | 8.5% |
| Aroundtown AT1.DE | Germany | $2.04B | -32% | +1% | 5% | 0.22× | 4.0% | 4.9% |
| HomeCo Daily Needs REIT HDN.AX | Australia | $1.71B | -2% | +4% | 11% | 0.76× | 8.5% | 11.4% |
| Parkway Life Real Estate Investment Trust C2PU.SI | Singapore | $2.05B | 0% | +3% | 10% | 1.56× | 6.3% | 10.1% |
| Douglas Emmett DEI | United States | $1.70B | -18% | +2% | -1% | 0.89× | 10.1% | -1.2% |