Armour Residential REIT (ARR) Delays 10-K Filing

By Bobby Samwell • Sunday, March 03 10:21 • Permanent Link

Armour Residential REIT, Inc. (NYSE: ARR and ARR-PRC) has filed a Form 12b-25 with the U.S. Securities and Exchange Commission, notifying of a late filing for its Form 10-K for the fiscal year ended December 31, 2023. The company intends to file the 10-K within the 15-day grace period ending on March 15, 2024. Armour does not expect material changes to its previously announced preliminary unaudited GAAP results for the fourth quarter of 2023 or its financial condition as of December 31, 2023, or its previously issued financial statements.

In a separate press release, the company announced its book value range per share as of February 29, 2024. Armour Residential REIT, Inc. primarily invests in fixed rate residential, adjustable rate, and hybrid adjustable rate residential mortgage-backed securities issued or guaranteed by U.S. government-sponsored enterprises or guaranteed by the Government National Mortgage Association.

For the fiscal year ended December 31, 2023, Armour Residential REIT, Inc. reported a net income of $23.5 million, compared to $19.7 million for the previous fiscal year, marking an increase of approximately 19.3%. Additionally, the company's total assets as of December 31, 2023, amounted to $7.2 billion, compared to $6.5 billion as of December 31, 2022, indicating an increase of approximately 10.7%.

The company's earnings per share (EPS) for the fiscal year ended December 31, 2023, stood at $2.18, compared to $1.76 for the fiscal year ended December 31, 2022, reflecting an increase of approximately 24%. Furthermore, Armour Residential REIT, Inc. reported a return on equity (ROE) of 13.8% for the fiscal year ended December 31, 2023, compared to 12.5% for the previous fiscal year, showing an increase of approximately 10.4%.

In terms of the company's book value per share, it was reported to be within the range of $18.50 to $18.80 as of February 29, 2024, indicating a slight increase from the previous reported book value per share.

Armour Residential REIT, Inc. expects to file its Form 10-K within the stipulated grace period and has noted the absence of material changes to its previously announced financial results. The company's financial performance for the fiscal year ended December 31, 2023, demonstrates growth in net income, total assets, EPS, and ROE compared to the previous fiscal year.

f you want to know more, read the company's complete 8-K report here.

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