Armour Residential REIT, Inc.

Listed Company

ARRCIK 0001428205NYSELarge AcceleratedReal Estate Investment TrustsFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$322.69M

Total Assets

$21.01B

Equity

$2.26B

Shares Out

124.05M

Op. Cash Flow

$124.20M

Business

ARMOUR Residential REIT, Inc. is an externally managed real estate investment trust that invests in U.S. mortgage markets to support home ownership and generate stockholder value. It principally acquires mortgage-backed securities issued or guaranteed by U.S. government-sponsored entities and government agencies and engages in borrowing through repurchase agreements and capital raising. The company’s activities are managed by an external adviser, which oversees portfolio selection, hedging, financing and liquidity strategies. ARMOUR operates primarily in U.S. mortgage and capital markets and raises funds through equity and debt offerings and repurchase financing.

Summary from filing dated 2025-02-12

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Interest Income (including $0, $0 and $973, respectively with BUCKLER)	800	551	553	228	80
Interest expense (including $(294,368), $(249,313) and $(245,846), respectively with BUCKLER)	−642	−524	−526	−121	−7
Net Interest Income	158	27	27	108	73
Realized loss on sale of available for sale Agency Securities (reclassified from Other comprehensive loss)	0	0	−7	−7	11
Gain (Loss) on Agency Securities, trading, net	515	−349	−53	−947	−77
Gain on derivatives, net	−286	324	52	811	52
Total Other Income (Loss)	219	12	−51	−300	−23
Management fees	45	40	38	34	31
Compensation	4	5	5	5	7
Other Operating	12	16	7	6	6
Total Expenses	61	60	50	46	44
Less management fees waived	−7	−7	−7	−8	−9
Total Expenses after fees waived	55	54	44	38	35
Net Income (Loss)	323	−14	−68	−230	15
Dividends on preferred stock	−12	−12	−12	−12	−11
Net Income (Loss) available (related) to common stockholders	311	−26	−80	−242	4
Reclassification adjustment for realized loss on sale of available for sale Agency Securities	0	0	7	7	−11
Net unrealized gain on available for sale Agency Securities	0	0	4	−130	−61
Other Comprehensive income	0	0	12	−119	−72
Comprehensive Income (Loss)	323	−14	−56	−348	−57
Comprehensive Income (Loss) available (related) to common stockholders	311	−26	−68	−360	−68
Basic (in dollars per share)	3.31	−0.51	−1.86	−10.25	0.24
Diluted (in dollars per share)	3.3	−0.51	−1.86	−10.25	0.24
Dividends declared per common share (in dollars per share)	2.88	2.88	5	6	6
Basic (in shares)	94	52	43	24	16
Diluted (in shares)	94	52	43	24	16

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	63	68	222	87	—
Cash collateral posted to counterparties	227	78	37	31	19
Derivatives, at fair value	612	908	877	984	199
Accrued interest receivable	86	53	47	29	11
Prepaid and other	2	1	1	2	1
Total Assets	21,005	13,548	12,344	9,437	5,277
Repurchase agreements, net (including $8,426,540 and $4,895,003, respectively with BUCKLER)	17,942	10,714	9,648	6,463	3,948
Obligations to return securities received as collateral, at fair value	0	493	350	503	0
Cash collateral posted by counterparties	419	834	860	964	171
Payable for unsettled purchases	302	104	172	353	0
Derivatives, at fair value	19	1	5	13	11
Accrued interest payable - repurchase agreements (including $27,752 and $14,442, respectively with BUCKLER)	59	32	27	—	—
Accrued interest payable - U.S. Treasury Securities sold short	0	4	5	3	0
Accounts payable and other accrued expenses	2	5	7	6	3
Total Liabilities	18,744	12,187	11,073	8,325	4,134
Commitments and contingencies (Note 8 and Note 14)	—	—	—	—	—
Preferred stock, $0.001 par value, 50,000 shares authorized; 7.00% Series C Cumulative Preferred Stock; 7,048 shares and 6,847 shares issued and outstanding ($176,196 and $171,175 aggregate liquidation preference), respectively.	7,000	7,000	—	—	—
Common stock, $0.001 par value, 175,000 and 125,000 shares authorized; 111,915 shares and 62,412 shares issued and outstanding, respectively.	112,000	62,000	49,000	33,000	94,000
Additional paid-in capital	5,446	4,586	4,318	3,875	3,403
Cumulative distributions to stockholders	−2,667	−2,384	−2,221	−1,992	−1,838
Accumulated net loss	−518	−841	−826	−759	−529
Total Stockholders Equity	2,261	1,361	1,271	1,112	1,144
Total Liabilities and Stockholders Equity	21,005	13,548	12,344	9,437	5,277

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net (accretion) amortization of premium (discount) on Agency Securities	2	−345,000	3	18	48
Stock based compensation	2	3	3	4	5
Increase in accrued interest receivable	−33	−6	−18	−18	2
(Increase) decrease in prepaid and other assets	−287,000	−159,000	841,000	−1	883,000
Change in derivatives, at fair value	315	−34	99	−783	−135
Increase in accrued interest payable- repurchase agreements	27	6	7	18	—
(Decrease) increase in accrued interest payable- U.S. Treasury Securities sold short	−4	−1	2	3	0
(Decrease) increase in accounts payable and other accrued expenses	−3	−2	315,000	4	156,000
Net cash and cash equivalents and cash collateral posted to counterparties provided by operating activities	124	261	133	124	12
Purchases of Agency Securities (including $0, $0 and $57,039 with BUCKLER, respectively)	−9,598	−7,339	−10,289	−11,457	−1,266
Principal repayments of Agency Securities	1,697	1,054	803	574	871
Proceeds from sales of Agency Securities	1,634	4,590	6,291	6,349	980
Disbursements on reverse repurchase agreements (including $(1,860,188), $(4,643,450) and $(2,774,490), respectively with BUCKLER)	−2,269	−5,829	−2,774	−1,958	−391
Receipts from reverse repurchase agreements (including $2,307,250, $4,550,325 and $3,124,829, respectively with BUCKLER)	2,767	5,685	3,125	1,254	391
Increase (decrease) in cash collateral posted by counterparties	−414	−26	−103	793	126
Proceeds from subordinated loan due to BUCKLER	0	0	105	0	0
Net cash and cash equivalents and cash collateral posted to counterparties used in investing activities	−7,285	−1,686	−3,039	−3,895	504
Issuance of common stock, net of expenses	874	266	450	476	329
Proceeds from repurchase agreements (including $89,783,916, $59,055,222 and $69,806,936, respectively with BUCKLER)	157,011	105,402	119,705	80,087	27,238
Principal repayments on repurchase agreements (including $(86,699,441), $(58,734,577) and $(68,737,266), respectively with BUCKLER)	−150,281	−104,192	−116,870	−76,868	−27,826
Common stock dividends paid	−271	−151	−216	−142	−97
Common stock repurchased, net	−20	−1	−10	−8	0
Net cash and cash equivalents and cash collateral posted to counterparties provided by financing activities	7,305	1,312	3,047	3,533	−331
Net increase (decrease) in cash and cash equivalents and cash collateral posted to counterparties	144	−113	141	—	—
Cash paid during the year for interest	735	686	607	137	21
Payable for unsettled purchases	−302	−104	−172	—	—
Net unrealized gain (loss) on available for sale Agency Securities	0	0	4	−130	−61
Amounts receivable for issuance of preferred stock	36,000	0	0	—	—

Filings

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