Key Highlights

  • On the high-dividend screen dated November 6, 2026, ARMOUR Residential REIT (NYSE:ARR) indicated 22.86% at a USD 12.60 price, up 3.87%, and Market Value near USD 1.87 billion.
  • A USD 0.24 monthly Dividend per share sits behind this figure. The November payout was approved October 20, with eligibility fixed by a November 16 Record Date and settlement on November 27.
  • Third-quarter distributable Earnings reached USD 0.71 per share against USD 0.72 of dividends, roughly 99% coverage, while common holders absorbed a GAAP loss of USD 2.26 per share.
  • Per-share Book Value landed at USD 14.55 on September 30 after falling about 17%, and Debt to Equity had eased to 7.99 times by October 19, down from 8.24 times at quarter end.

Monthly Rate Arithmetic Behind the 22.86% Figure

A live rate sits behind the 22.86% reading for ARMOUR Residential REIT (NYSE:ARR): the USD 0.24 monthly payment, which adds up to USD 2.88 yearly, measured against USD 12.60. The screen's trailing Yield matches it exactly, indicating a stable payout across the past year with no cut or raise. The latest declaration came October 20, 2026 for a November dividend, with a November 16 record date and November 27 payment. On coverage, common holders had USD 102.3 million of distributable earnings, which is USD 0.71 a share against a USD 0.72 dividend, roughly 99% coverage by our own calculation. Management indicated distributable earnings should be about in line with the dividend next quarter. The shares trade near 87% of book value per share, a narrower discount than several Mortgage REIT peers on the screen.

Third-Quarter Loss and the Erosion of Book Value

The agency mortgage securities investor released third-quarter results on October 21, 2026, reporting a net loss to common holders of USD 327.0 million, or USD 2.26 per share, after a second-quarter income of USD 0.86 a share, since wider spreads cut into the value of its mortgage holdings. Per-share book value dropped from USD 17.53 at June 30 to USD 14.55, and the economic return across the quarter came to negative 12.9%. Distributable earnings slid to USD 0.71 per share from USD 0.72. After quarter end, debt to equity moved to 7.99 times as of October 19, compared with 8.24 times, and book value was reported near USD 14.65 including the accrued October dividend. Searches for a company announcement dated November 4 to 6 came back empty, so the 3.87% advance has no confirmed company trigger.

How Thin Coverage and Spreads Could Force a Change

Coverage near 99% means the dividend is roughly earned but leaves almost no cushion. A small increase in funding costs or drop in asset yields would push distributable earnings under the payout. Book value is the bigger exposure, since a 17% fall in one quarter shows how fast equity can shrink when spreads widen at Leverage near eight times. Dividends at mortgage REITs frequently get revised once book value keeps sliding, and monthly declarations make fast revisions possible. Trailing EPS on the screen sits at minus USD 0.03, a figure driven by mark-to-market swings instead of operating results. Holders of ARMOUR Residential REIT (NYSE:ARR) should monitor the December declaration, book value, hedging costs, leverage and agency mortgage spreads.

Where Things Stand

A live USD 0.24 monthly dividend supports the 22.86% yield for ARMOUR Residential REIT, and distributable earnings matched roughly 99% of that payout in the third quarter. Book value slid about 17% to USD 14.55, while leverage edged lower after quarter end. Management's outlook puts earnings close to the payout level, but with little slack, spreads, hedging costs and book value will set the next monthly rate decision.