ARMOUR Residential REIT, Inc. Provides Preliminary

VERO BEACH, Florida, Oct. 12, 2022 (GLOBE NEWSWIRE) — ARMOUR Residential REIT, Inc. (NYSE: ARR and ARR-PRC) (“ARMOUR” or the “Company”) right now introduced preliminary estimated monetary data as of September 30, 2022 and for the three-month interval then ended.

ARMOUR’s Q3 2022 Preliminary Estimates

• Book worth per widespread share at September 30, 2022 was between $5.79 and $5.83 in comparison with $7.25 per widespread share at June 30, 2022.
• Securities portfolio included roughly $7.4 billion of company mortgage-backed securities (“Agency MBS”) (internet of quick to-be-announced (“TBA”) securities positions) and U.S. Treasury securities.
• Debt to fairness ratio (primarily based on repurchase agreements divided by whole stockholders’ fairness) was roughly 8.8 to 1. Leverage, internet of quick TBA securities positions, was roughly 7.7 to 1 at September 30, 2022. For comparability, debt to fairness ratio was 6.9 to 1 (primarily based on repurchase agreements divided by whole stockholders’ fairness) and leverage, together with internet lengthy TBA securities positions, was 7.6 to 1 at June 30, 2022.
• Liquidity place consisted of money and unencumbered Agency MBS of roughly $469 million, as of September 30, 2022.
• Monthly money dividends totaled $0.30 per widespread share for the third quarter. Estimated distributable earnings (a non-GAAP measure) for the quarter exceeded that quantity per share. Our remaining report of distributable earnings for the third quarter 2022, when accessible, will embrace a reconciliation of distributable earnings to probably the most immediately comparable GAAP measure.
• Per share quantities at September 30, 2022 are primarily based on roughly 132,590,000 widespread shares issued and excellent on that date. During the quarter ended September 30, 2022, the Company issued roughly 22,733,043 widespread shares for common internet proceeds of $7.36 per share below its “at the market” providing program and repurchased roughly 780,000 widespread shares at a median internet price of $4.96 below its inventory repurchase program.

The Company’s monetary reporting closing procedures for the three-month interval ended September 30, 2022 are nonetheless in course of and, consequently, the Company’s preliminary estimates of the monetary data above relies on data at the moment accessible to administration, together with a lot of assumptions. Also, these estimates will not be complete statements of the Company’s monetary place and outcomes as of and for the quarter ended September 30, 2022. The Company’s precise monetary place and outcomes as of and for the quarter ended September 30, 2022 might differ materially from these estimates. Accordingly, traders mustn’t place undue reliance on this preliminary data. These estimates are the accountability of the Company’s administration, and the Company undertakes no obligation to replace this data previous to the submitting of the Company’s subsequent Form 10-Q. These estimates are unaudited and haven’t been reviewed by the Company’s unbiased public accountants.

Certain Tax Matters

ARMOUR has elected to be taxed as an actual property funding belief (“REIT”) for U.S. Federal revenue tax functions. In order to take care of this tax standing, ARMOUR is required to well timed distribute considerably all of its abnormal REIT taxable revenue. Dividends paid in extra of present tax earnings and earnings for the 12 months will usually not be taxable to widespread stockholders. Actual dividends are decided on the discretion of the Company’s board of administrators, which can think about extra elements together with the Company’s outcomes of operations, money flows, monetary situation and capital necessities in addition to present market circumstances, anticipated alternatives and different related elements.

About ARMOUR Residential REIT, Inc.

ARMOUR invests primarily in mounted fee residential, adjustable fee and hybrid adjustable fee residential mortgage-backed securities issued or assured by U.S. Government-sponsored enterprises or assured by the Government National Mortgage Association. ARMOUR is externally managed and suggested by ARMOUR Capital Management LP, an funding advisor registered with the Securities and Exchange Commission (“SEC”).

Additional Information and Where to Find It

Investors, safety holders and different individuals might discover extra data concerning the Company on the SEC’s web website at www.sec.gov, or the Company web site at www.armourreit.com, or by directing requests to: ARMOUR Residential REIT, Inc., 3001 Ocean Drive, Suite 201, Vero Beach, Florida 32963, Attention: Investor Relations.

Investor Contact:

James R. Mountain
Chief Financial Officer
ARMOUR Residential REIT, Inc.
(772) 617-4340