ARMOUR Residential REIT (NYSE:ARR) completes its previously announced transition of its investment portfolio to solely mortgage-backed securities issued or guaranteed by U.S. government-sponsored enterprises, Treasury securities, and cash.
In Q2, ARR started selling unguaranteed MBS in its legacy portfolio, with the final remaining unguaranteed position sold on Aug. 11, 2020.
ARR has current liquidity of $582M, of which $104M are short-term receivables from GSEs.
Current book value per common share is estimated to be $11.45 before considering payment of its previously declared dividend of 10 cents per common share payable on Aug. 28.
The estimated book value equates to ~118% of ARR's closing stock price of $9.68 on Tuesday.
