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ARMOUR Residential REIT, Inc. Message Board

  • danielyuhasz@ymail.com danielyuhasz Feb 22, 2013 4:43 PM Flag

    Earnings and book value

    They made .37. Adjusted for the extra shares it comes to .22 but the extra shares gave them more capital to make more money. ARR is profitable so in the long term there should not be any dilution. I do think ARR will recover because we are 8% below Book. As long as Washington doesnt spook the markets we will do ok. After market is at 6.65-- this will be interesting to watch because perception is what pushes prices - not always the facts.

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    • Do you want to check that discount to book calculation? They said the book at the time of the latest offering was between $6.70 and 6.76. The year-end book was what I think you were looking at.

      • 2 Replies to marklibera
      • Thank you, Thank you. You have redeemed this board ... at least somebody gets it.
        Book on 31 Dec $7.29
        Book at time of offering $6.70
        Currently trading at .99x Price-to-Book
        NLY currently trading at .94x
        AGNC currently trading at 1.00x
        HTS currently trading at .95x
        IVR currently trading at .97x
        TWO currently trading at 1.08x

        So, you are a bit expensive ... but, not outrageous or anything ... ironically the premium is likely for the monthly dividend which I actually think is hurting the ARR's book value growth opportunity

      • danielyuhasz@ymail.com danielyuhasz Feb 22, 2013 5:11 PM Flag

        I have not been able to find the 6,76 value, how did you calculate it? Is this a figure based on the extra shares? Once they buy securities those extra shares let them purchase then there will be a new book value based on the new securities values. If they do not buy shares perhaps the book value would drop to the 6.70s. Does this make sence?

 
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