Dallas, Texas--(Newsfile Corp. - April 24, 2026) - Armour Residential REIT, Inc. (NYSE: ARR): Stonegate Capital Partners Updates Coverage on Armour Residential REIT, Inc. (NYSE: ARR). ARR reported a net loss available to common shareholders of $(58.0)M, or $(0.49)/share, as stronger carry income was more than offset by quarter-end mark-to-market pressure across the portfolio. Net interest income improved to $70.7M, but this was outweighed by a $(182.6)M loss on Agency securities and a $(10.6)M loss on U.S. Treasuries, partially offset by $83.0M of derivative gains. The primary drag in the quarter was the 6.5% decline in book value to $17.42/share, resulting in (2.6)% total economic return, reflecting the impact of wider spreads and weaker MBS pricing late in the period.

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Key Takeaways:

• Core earnings power improved despite mark-to-market pressure. ARR's headline loss was driven by spread-driven marks, but distributable earnings rose to $0.76/share and economic spread widened to 1.84%.
• Dividend coverage moved back above the line. The $0.72 quarterly dividend was covered by distributable earnings, lowering the payout ratio to ~95% from ~101% in 4Q25.
• Liquidity and Agency-heavy positioning support flexibility. ARR ended with $1.1B of liquidity, an Agency-focused portfolio, and continued capital access, preserving deployment capacity despite book value pressure.

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About Stonegate
Stonegate Capital Partners is a leading capital markets advisory firm providing investor relations, equity research, and institutional investor outreach services for public companies. Our affiliate, Stonegate Capital Markets (member FINRA) provides a full spectrum of investment banking services for public and private companies.

Source: Stonegate, Inc.

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