Armour Residential REIT

What Armour Residential REIT does

Armour Residential REIT, Inc. (NYSE: ARR) is a Maryland-incorporated mortgage real estate investment trust founded in 2008 and headquartered in Vero Beach, Florida. The company invests primarily in residential mortgage-backed securities issued or guaranteed by U.S. Government-sponsored enterprises — Fannie Mae, Freddie Mac, and Ginnie Mae — with a portfolio composition of approximately 97% Agency MBS and 3% U.S. Treasury Securities as of Q4 2025. Portfolio assets exceeded $20 billion by year-end 2025, comprising fixed-rate, hybrid adjustable-rate, and adjustable-rate residential mortgage securities financed through repurchase agreements and equity capital.

ARMOUR is externally managed by ARMOUR Capital Management LP, an SEC-registered investment adviser, and distributes substantially all of its REIT taxable income to shareholders in the form of monthly common share dividends. The company has paid 17 consecutive years of dividends, totaling approximately $2.8 billion through May 2026, with the current monthly rate of $0.24 per common share producing an annualized yield of roughly 16.4%. It also offers Series C Preferred Stock (ARR.PR.C) and maintains a 10.8% equity interest in BUCKLER Securities LLC, a FINRA member broker-dealer affiliate that can execute transactions on the company's behalf.

The company raises capital primarily through at-the-market (ATM) equity offerings and underwritten public offerings, deploying proceeds to acquire additional Agency MBS. Revenue is generated through net interest income on the spread between interest earned on MBS holdings and the cost of repurchase financing, with hedging and liquidity strategies employed to manage interest rate and MBS price risk. ARMOUR targets institutional and retail investors seeking income-generating exposure to government-sponsored residential mortgage markets through a leveraged, professionally managed vehicle.

Name

Armour Residential REIT

Legal name

ARMOUR Residential REIT, Inc.

Website

https://armourreit.com

Company type

Public

Founded year

2008

Operating status

Operating

Headcount range

11–50 employees

Short description

Armour Residential REIT (NYSE: ARR) is a publicly traded mortgage REIT founded in 2008 that invests primarily in U.S. Agency residential mortgage-backed securities, financing a $20+ billion portfolio through repurchase agreements and equity capital to generate monthly dividend income for institutional and retail investors.

Ownership category

akta.pro rank

Product category

Mortgage REIT / Residential Mortgage-Backed Securities

NAICS

Funds, Trusts, and Other Financial Vehicles (525)

SIC

Real Estate Investment Trusts (6798)

akta.pro primary industry

REITs & Listed Real Estate Securities (FSAAAKAD)

Keywords

• Mortgage REIT
• Residential mortgage-backed securities
• Agency MBS investing
• Leveraged MBS portfolio
• Monthly dividend REIT

Headquarters

HQ city

Vero Beach

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Personnel, Others, Technology or R&D, Marketing or Sales

Revenue model

1. Net Interest Income: ARMOUR earns interest income from its portfolio of residential mortgage-backed securities issued or guaranteed by U.S. Government-sponsored enterprises (Fannie Mae, Freddie Mac, Ginnie Mae). The company finances these investments through repurchase agreements and equity capital, generating net interest margin from the spread between interest earned on MBS and funding costs.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

Armour Residential REIT is a publicly traded mortgage REIT that invests primarily in U.S. Agency residential mortgage-backed securities issued or guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The company generates net interest income from a leveraged portfolio of fixed-rate, hybrid adjustable-rate, and adjustable-rate MBS, financed through repurchase agreements and equity capital. It distributes substantially all taxable income to shareholders as monthly dividends to maintain its REIT tax status.

Product overview

ARMOUR Residential REIT, Inc. (NYSE: ARR) is a mortgage REIT that operates as a single unified investment platform focused on residential mortgage-backed securities. The company's core product is its Agency MBS portfolio (approximately 97% Agency mortgage-backed securities and 3% U.S. Treasury Securities), which invests primarily in fixed rate, adjustable rate, and hybrid adjustable rate residential mortgage securities issued or guaranteed by U.S. Government-sponsored enterprises. The company also offers preferred shares (ARR.PR.C) as a sub-product for income-focused investors, and maintains an affiliated relationship with BUCKLER Securities LLC for broker-dealer services. ARMOUR is externally managed by ARMOUR Capital Management LP and distributes substantially all taxable income as monthly dividends to maintain REIT status.

Differentiator

Problem solved

Functional benefit

Quantifiable outcome

• 12.79% total economic return in 2025
• +3 more outcomes

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• ARMOUR Capital Management LPcoreStrategic or Co-development PartnerExternal investment adviser registered with the SEC that manages ARMOUR and its subsidiaries. Provides decades of experience in MBS securities portfolio analysis and selection, access to equity capital and repurchase financing, and hedging and liquidity strategies. The manager waived $1.65 million in management fees in Q2 2025 to reduce operating expenses.

Scale indicators22 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• MFA Financial, Inc. Mortgage REIT with exposure to residential MBS and credit; operates a comparable leveraged securitized credit book and serves similar shareholders to ARMOUR.
• Two Harbors Investment Corp. Mortgage REIT investing in Agency RMBS, MSR and credit assets; comparable Agency MBS strategy to ARMOUR with similar yield-driven investor base.
• Chimera Investment Corporation: Hybrid mortgage REIT investing across Agency and non-Agency residential MBS; overlapping customer base and business model with ARMOUR.
• Western Asset Mortgage Capital Corporation: Externally managed (Western Asset) mortgage REIT investing across Agency and non-Agency residential MBS; overlapping strategy and risk factors with ARMOUR.
• Orchid Island Capital: Externally managed Agency-only mortgage REIT; very similar strategy, structure and leverage profile as ARMOUR, making it the closest comparable peer.
• New York Mortgage Trust, Inc. Mortgage REIT investing in residential MBS (Agency and credit) and residential loans; similar income-oriented investor base and Agency MBS exposure as ARMOUR.
• AGNC Investment Corp. Agency-focused mortgage REIT paying monthly dividends; competes head-to-head with ARMOUR for income-seeking investors seeking leveraged MBS exposure.
• Annaly Capital Management: Largest U.S. mortgage REIT investing primarily in Agency MBS with similar leverage and dividend-oriented model; directly comparable business to ARMOUR's Agency MBS strategy.
• Invesco Mortgage Capital Inc. Externally advised mortgage REIT (by Invesco) focusing on Agency and credit residential MBS; structurally similar to ARMOUR's external management and leverage model.
• Dynex Capital, Inc. Mortgage REIT primarily invested in Agency and hybrid ARM residential MBS; shares Agency MBS exposure, monthly dividend structure and market-cap profile similar to ARMOUR.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries1 record

Funding overview

Funding rounds2 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Armour Residential REIT