ARMOUR Residential REIT, Inc. Announces Q3 Results And September 30, 2026 Financial Position
Key Highlights
- ➤GAAP net loss $327.0 million, or $2.26 per common share
- ➤Book value per common share fell to $14.55; Q3 economic return was (12.9)%
- ➤Distributable Earnings available to common stockholders reached $102.3 million, or $0.71 per share
- ➤Portfolio totaled $21.3 billion, with 94.0% in Agency MBS
- ➤Raised $205.7 million through issuance of 12,366,481 common shares
Expert Statements
Scott Ulm, Chief Executive Officer of ARMOUR Residential REIT, Inc.
“Mortgage spreads widened late in the third quarter as interest rates rose and markets reacted to a more hawkish Federal Reserve. Despite this volatility, we remain constructive on the MBS market and believe the outlook remains favorable.”
Scott Ulm, Chief Executive Officer of ARMOUR Residential REIT, Inc.
“Our approach remains consistent: we stress-test liquidity, employ systematic hedging strategies, and deploy capital opportunistically. Our portfolio is designed to attenuate downside risks and capitalize on attractive investment opportunities. We believe this disciplined strategy enables ARMOUR to navigate changing market conditions, support sustainable dividends, and protect long-term shareholder value.”
VERO BEACH, Florida, Oct. 21, 2026 (GLOBE NEWSWIRE) -- ARMOUR Residential REIT, Inc. (NYSE: ARR and ARR PRC) (“ARMOUR” or the “Company”) today announced the Company's unaudited Q3 results and September 30, 2026 financial position.
Q3 2026 Results * GAAP net loss related to common stockholders of $(327.0) million or $(2.26) per common share. * Reported book value per common share of $14.55 and declared common stock dividends of $0.24 per share per month, or $0.72 per share for Q3, resulting in a total economic return of (12.9)%, which is change in book value for the period plus common dividends paid for the quarter. * Net interest income of $83.7 million. * Distributable Earnings available to common stockholders of $102.3 million, which represents $0.71 per common share (see explanation of this non-GAAP measure on page 5). * Average interest income on interest earning assets of 4.99% and interest cost on average interest bearing liabilities of 3.89%. * Economic interest income was 4.90% less economic interest expense of 3.07% for an economic net interest spread of 1.83% (see explanation of this non-GAAP measure on page 7). * Raised $205.7 million of capital by issuing 12,366,481 shares of common stock through an at the market offering program. * Repurchased 363,700 shares of common stock under the Company's common stock repurchase authorization. * Raised $2.5 million of capital by issuing 123,374 shares of preferred stock through an at the market offering program. September 30, 2026 Financial Position * Liquidity, including cash and unencumbered securities, of $1.0 billion. * Portfolio totaled $21.3 billion, comprised of 94.0% Agency mortgage-backed securities ("MBS") and 2.2% U.S. Treasury Securities and 3.8% of To Be Announced ("TBA") Agency Securities. * Repurchase agreements, net totaled $19.4 billion; 49.8% were with ARMOUR affiliate BUCKLER Securities LLC. * Debt to equity ratio of 8.24:1 (based on repurchase agreements divided by total stockholders’ equity). Implied leverage, including TBA Agency Securities and forward settling sales and unsettled purchases was 8.41:1. * Average debt to equity ratio for the three and nine months ending September 30, 2026 was 7.58:1 and 7.76:1. Average implied leverage, including TBA Agency Securities and forward settling sales and unsettled purchases, for the three and nine months ended September 30, 2026 was 7.94:1 and 8.06:1. * Interest Rate swap contracts totaled $17.0 billion of notional amount. Management's Remarks
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