ARMOUR Residential REIT's Series C Preferred Stock Shares Cross 8.5% Yield Mark

ARMOUR Residential REIT's 7.00% Series C cumulative preferred (ARR.PRC) was yielding above 8.5% based on its monthly dividend annualized to $1.75. Shares traded as low as $20.37 on the day, signaling the market is pricing the preferred below par despite the 7.00% coupon.

Analysis

ARMOUR Residential REIT's 7.00% Series C cumulative preferred (ARR.PRC) was yielding above 8.5% based on its monthly dividend annualized to $1.75. Shares traded as low as $20.37 on the day, signaling the market is pricing the preferred below par despite the 7.00% coupon.