VERO BEACH, Fla. (AP) — In a story April 21 about Armour Residential REIT’s results — generated by Automated Insights using data from Zacks Investment Research — The Associated Press reported erroneously that the company posted a loss. Instead the company earned a profit.
A corrected version of the story is below:
Armour Residential REIT: Q1 Earnings Snapshot
VERO BEACH, Fla. (AP) — Armour Residential REIT Inc. (ARR) on Wednesday reported a profit of $71.3 million in its first quarter.
On a per-share basis, the Vero Beach, Florida-based company said it had a profit of $1.03. Earnings, adjusted for non-recurring costs, came to 23 cents per share.
The real estate investment trust posted revenue of $18.6 million in the period. Its adjusted revenue was $16.1 million.
Armour Residential REIT shares have increased 11% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $12.02, a rise of 42% in the last 12 months.
Elements of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ARR at https://www.zacks.com/ap/ARR