ARMOUR Residential REIT, Inc. reported significant financial performance improvements for the first quarter of 2025, with net income reaching $27.3 million, compared to $14.5 million in the same period last year. This translates to a net income per share of $0.32, up from $0.24 in the prior year. The company’s interest income increased to $172.9 million, a rise from $141.5 million, while interest expenses remained relatively stable at $136.5 million, leading to a net interest income of $36.3 million, compared to just $5.3 million in the previous year.
The company’s total assets grew to $15.5 billion as of March 31, 2025, up from $13.5 billion at the end of 2024. This increase was primarily driven by a rise in investments in agency securities, which reached $14.4 billion, compared to $12.4 billion at the end of the previous year. The liabilities also increased, with total liabilities amounting to $13.8 billion, up from $12.2 billion, largely due to higher borrowings under repurchase agreements, which rose to $12.5 billion from $10.7 billion.
In terms of operational developments, ARMOUR issued 19,994 shares of common stock under its 2023 Common Stock ATM Sales Agreement, generating proceeds of approximately $371.4 million. The company also issued 17 shares of Series C Preferred Stock, raising $279, net of issuance costs. The total number of outstanding shares of common stock increased to 82.4 million as of April 22, 2025, compared to 62.4 million at the end of 2024. The company’s management fees increased to $10.8 million, reflecting the growth in gross equity raised.
ARMOUR's strategic focus remains on managing interest rate risk and maintaining liquidity amid market volatility. The company has emphasized its commitment to sustainable practices and effective risk management strategies. Looking ahead, ARMOUR anticipates continued challenges from fluctuating interest rates and market conditions, particularly in light of recent tariff actions and their potential impact on the economy. The management remains focused on leveraging its portfolio to create shareholder value while navigating these uncertainties.
About Armour Residential REIT, Inc.
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