VERO BEACH, Fla. (AP) _ Armour Residential REIT Inc. (ARR) on Wednesday reported second-quarter net income of $51.7 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Vero Beach, Florida-based company said it had profit of 77 cents. Earnings, adjusted for non-recurring gains, were 19 cents per share.
The real estate investment trust posted revenue of $28.6 million in the period. Its adjusted revenue was $23.1 million.
Armour Residential REIT shares have decreased 44% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $9.97, a decrease of 46% in the last 12 months.