VERO BEACH, Fla. (AP) — VERO BEACH, Fla. (AP) — Armour Residential REIT Inc. (ARR) on Wednesday reported second-quarter net income of $114.8 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 86 cents. Earnings, adjusted for non-recurring gains, came to 72 cents per share.
The real estate investment trust posted revenue of $263.9 million in the period. Its adjusted revenue was $76.8 million.
Armour Residential REIT shares have declined slightly more than 7% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $16.38, a drop of almost 2% in the last 12 months.
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