Preferred Stock OfferingsBy Preferred Stock Channel Staff, updated Fri, March 31, 1:29 AM
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Slide #544. ARMOUR Residential REIT, Inc. — Preferred Stock Offering
ARMOUR Residential REIT, Inc. (NYSE:ARR)
Series B Cumulative Redeemable Preferred Stock (ARR.PRB)
Preferred Stock Offering Details:
ARMOUR Residential REIT, Inc. announced that it is commencing an underwritten public offering of its Series B Cumulative Redeemable Preferred Stock. ARMOUR expects to grant the underwriters a 30-day option to purchase additional shares to cover overallotments, if any. The Company has applied to list the Series B Preferred Stock on the New York Stock Exchange under the symbol "ARR PrB."
ARMOUR Residential REIT is a real estate investment trust. Co. invests in mortgage backed securities, issued or guaranteed by a U.S. Government-sponsored entity, such as the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation, or a government agency such as Government National Mortgage Administration (collectively, Agency Securities). Co.'s Agency Securities consist primarily of fixed rate loans. The remaining are either backed by hybrid adjustable rate or adjustable rate loans. Co. also invests in Credit Risk and Non-Agency Securities, Interest-Only Securities, U.S. Treasury Securities and money market instruments.
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