B. Riley Securities Maintains Neutral Rating for ARMOUR Residential REIT: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
B. Riley Securities has maintained a Neutral rating on ARMOUR Residential REIT (NYSE:ARR) while raising its price target from $17.00 to $20.00. ARMOUR Residential REIT's shares are currently trading at $16.73, down 0.3% over the last 24 hours. The new price target suggests a potential upside of 19.55% from the current share price. ARMOUR Residential REIT invests in residential mortgage-backed securities, with most of its investments being long-term, fixed-rate agency RMBS guaranteed by Fannie Mae.
November 16, 2023 | 5:00 pm
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B. Riley Securities maintains a Neutral rating on ARMOUR Residential REIT and raises the price target to $20.00, indicating a potential 19.55% increase from the current price of $16.73.
The maintenance of a Neutral rating by B. Riley Securities suggests that the firm does not see significant short-term catalysts that could drive the price substantially higher or lower. However, the increase in the price target to $20.00 represents a significant potential upside from the current trading price, which could lead to positive investor sentiment and a potential increase in the stock price in the short term.
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