Cantor Fitzgerald Cuts Price Target on ARMOUR Residential (ARR) Due to Increased Risks

Cantor Fitzgerald is reaffirming its Buy rating on shares of ARMOUR Residential (NYSE: ARR) while lowered its price target from $8 to $7.25 due to increased risks.

The firm notes that the increased risks include, a refinancing wave induced by a new U.S. Government program, drying up of repo lines, a refinancing wave driven by low mortgage rates, and loss of the SEC exemption from the Investment Company Act of 1940.

Due to the company's current dividend yield and the price appreciation of shares, Cantor Fitzgerald believes that now is a good time to buy.

For more ratings news on ARMOUR Residential click here and for the rating history of ARMOUR Residential click here.

Shares of ARMOUR Residential closed at $6.81 yesterday.

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