{"id":6772,"date":"2022-08-23T14:40:22","date_gmt":"2022-08-23T19:40:22","guid":{"rendered":"https:\/\/1reason.com\/re\/armour-residential-reit-inc-announces-q2-results-and-june-30-2022-financial-position\/6772\/"},"modified":"2022-08-24T09:40:22","modified_gmt":"2022-08-24T14:40:22","slug":"armour-residential-reit-inc-announces-q2-results-and-june-30-2022-financial-position","status":"publish","type":"post","link":"https:\/\/1reason.com\/re\/armour-residential-reit-inc-announces-q2-results-and-june-30-2022-financial-position\/6772\/","title":{"rendered":"ARMOUR Residential REIT, Inc. Announces Q2 Results and June 30, 2022 Financial Position"},"content":{"rendered":"<div>  <\/p>\n<p align=\"justify\"><strong>ARMOUR&#8217;s Q2 2022 Results<\/strong><\/p>\n<ul type=\"circle\">\n<li style=\"margin-bottom:3pt;text-align:justify\">Comprehensive loss related to common stockholders of $(96.2) million or $(0.90) per common share, down (10.7)% from the beginning of the quarter.<\/li>\n<li style=\"margin-bottom:3pt;text-align:left\">Distributable Earnings available to common stockholders of $31.2 million, up 16.8% from Q1, which represents $0.29 per common share (see explanation of this non-GAAP measure on page 3).<\/li>\n<li style=\"margin-bottom:3pt;text-align:left\">Paid common stock dividends of $0.10 per share per month.<\/li>\n<li style=\"text-align:left\">Raised $79.7 million of capital by issuing 10,424,858 shares of common stock at $7.65 net proceeds per share, after fees and expenses, through at the market offering program.<\/li>\n<li style=\"margin-bottom:3pt;text-align:justify\">Repurchased 248,000 shares of common stock, at an average cost of $6.23 per share, pursuant to existing authorization.<\/li>\n<li style=\"margin-bottom:6pt;text-align:justify\">Net interest income of $35.0 million and net interest margin of 2.22%, up 44 basis points from the prior quarter.<\/li>\n<\/ul>\n<p align=\"justify\"><strong>ARMOUR&#8217;s June 30, 2022 Financial Position<\/strong><\/p>\n<ul type=\"circle\">\n<li style=\"margin-bottom:3pt;text-align:justify\">Book value per common share of $7.25.<\/li>\n<li style=\"margin-bottom:3pt;text-align:justify\">Liquidity, including cash and unencumbered agency and U.S. government securities, of $573.7 million.<\/li>\n<li style=\"margin-bottom:3pt;text-align:justify\">Portfolio composition was 92% Agency mortgage-backed securities (&#8220;MBS&#8221;), including To Be Announced (&#8220;TBA&#8221;) Securities and 8% U.S. Treasury Securities.<\/li>\n<li style=\"margin-bottom:3pt;text-align:justify\">Debt to equity ratio of 6.9 to 1 (based on repurchase agreements divided by total stockholders\u2019 equity). Leverage, including TBA Securities, was 7.6 to 1.<\/li>\n<li style=\"margin-bottom:6pt;text-align:justify\">Interest Rate swap contracts totaled $6.9 billion of notional amount, representing 94% of total repurchase agreement and TBA Securities liabilities.<\/li>\n<\/ul>\n<table align=\"center\" class=\"gnw_table_border_collapse hugin\" style=\"width:100%;border-collapse:collapse !important\">\n<tr>\n<td class=\"gnw_align_left hugin gnw_vertical_align_bottom\" style=\"max-width:77%;width:77%;min-width:77%\"><strong>Book Value, March 31, 2021<\/strong><\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" style=\"max-width:2%;width:2%;min-width:2%\" \/>\n<td class=\"gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\" style=\"max-width:2%;width:2%;min-width:2%\">$<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\" style=\"max-width:17%;width:17%;min-width:17%\">8.48<\/td>\n<td class=\"gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\" style=\"max-width:2%;width:2%;min-width:2%\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i20 hugin gnw_vertical_align_bottom\">Comprehensive loss per common share<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">(0.90<\/td>\n<td class=\"gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\">)<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_label_i20 hugin gnw_vertical_align_bottom\">Less: Common dividends per common share<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">(0.30<\/td>\n<td class=\"gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\">)<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_label_i20 hugin gnw_vertical_align_bottom\">Capital Raising Activities, net<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">(0.03<\/td>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\">)<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_align_left hugin gnw_vertical_align_bottom\"><strong>Book Value, June 30, 2022<\/strong><\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">7.25<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\" \/><\/tr>\n<\/table>\n<p align=\"justify\">Book value per common share consisted of:<\/p>\n<table class=\"gnw_table_border_collapse hugin\" style=\"width:100%;border-collapse:collapse !important\">\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_center hugin gnw_vertical_align_bottom\" colspan=\"3\"><strong>June 30, 2022<\/strong><\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_top_solid gnw_border_bottom_solid gnw_align_center hugin gnw_vertical_align_bottom\" colspan=\"3\">(in millions except per share)<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_align_left hugin gnw_vertical_align_bottom\" style=\"max-width:77%;width:77%;min-width:77%\">Common stock &#8211; 110,586,253 shares outstanding<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" style=\"max-width:1%;width:1%;min-width:1%\" \/>\n<td class=\"gnw_border_top_solid gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\" style=\"max-width:3%;width:3%;min-width:3%\">$<\/td>\n<td class=\"gnw_border_top_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\" style=\"max-width:17%;width:17%;min-width:17%\">0.1<\/td>\n<td class=\"gnw_border_top_solid gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\" style=\"max-width:2%;width:2%;min-width:2%\" \/><\/tr>\n<tr>\n<td class=\"gnw_align_left hugin gnw_vertical_align_bottom\">Additional paid-in capital<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">3,537.6<\/td>\n<td class=\"gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_align_left hugin gnw_vertical_align_bottom\">Cumulative distributions to stockholders<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">(1,905.2<\/td>\n<td class=\"gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\">)<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_align_left hugin gnw_vertical_align_bottom\">Accumulated net loss<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">(653.6<\/td>\n<td class=\"gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\">)<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_align_left hugin gnw_vertical_align_bottom\">Accumulated other comprehensive loss<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">(6.2<\/td>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\">)<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_align_left hugin gnw_vertical_align_bottom\">Total Stockholders&#8217; Equity<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_top_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">972.7<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i10 hugin gnw_vertical_align_bottom\">Less: liquidation preference &#8211; 7.00% Cumulative Redeemable Preferred C Stock &#8211; 6,846,978 shares outstanding<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_top_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">(171.2<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\">)<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_align_left hugin gnw_vertical_align_bottom\">Equity Attributable to Common Stockholders<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_top_solid gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_top_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">801.5<\/td>\n<td class=\"gnw_border_top_solid gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_align_justify hugin gnw_vertical_align_bottom\">Book value per common share<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">7.25<\/td>\n<td class=\"gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\" \/><\/tr>\n<\/table>\n<p align=\"justify\">The major drivers of the change in the Company&#8217;s financial position during Q2 were:<\/p>\n<table align=\"center\" class=\"gnw_table_border_collapse hugin\" style=\"width:100%;border-collapse:collapse !important\">\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_center hugin gnw_vertical_align_bottom\" colspan=\"3\"><strong>Q2 2022<\/strong><\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_top_solid gnw_border_bottom_solid gnw_align_center hugin gnw_vertical_align_bottom\" colspan=\"3\">(in millions)<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_align_left hugin gnw_vertical_align_bottom\" style=\"max-width:77%;width:77%;min-width:77%\"><strong>Total Stockholders&#8217; Equity \u2013 Beginning<\/strong><\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" style=\"max-width:2%;width:2%;min-width:2%\" \/>\n<td class=\"gnw_border_top_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\" style=\"max-width:2%;width:2%;min-width:2%\">$<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\" style=\"max-width:17%;width:17%;min-width:17%\">1,021.9<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\" style=\"max-width:2%;width:2%;min-width:2%\" \/><\/tr>\n<tr>\n<td class=\"gnw_align_left hugin gnw_vertical_align_bottom\"><strong>Comprehensive Income (Loss)<\/strong><\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_top_solid hugin gnw_vertical_align_bottom\" colspan=\"3\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 hugin gnw_vertical_align_bottom\">Investment in securities<sup> (1)<\/sup><\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"3\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i30 hugin gnw_vertical_align_bottom\">Loss on MBS<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">(291.1<\/td>\n<td class=\"gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\">)<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_label_i30 hugin gnw_vertical_align_bottom\">Loss on U.S. Treasury Securities<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">(34.0<\/td>\n<td class=\"gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\">)<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_label_i30 hugin gnw_vertical_align_bottom\">Loss on TBA Securities<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">(17.9<\/td>\n<td class=\"gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\">)<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_label_i15 hugin gnw_vertical_align_bottom\">Interest rate swaps<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"3\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i30 hugin gnw_vertical_align_bottom\">Net interest income<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">1.5<\/td>\n<td class=\"gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i30 hugin gnw_vertical_align_bottom\">Unrealized gain<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">220.5<\/td>\n<td class=\"gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i20 hugin gnw_vertical_align_bottom\">Futures contracts<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">2.2<\/td>\n<td class=\"gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i20 hugin gnw_vertical_align_bottom\">Net Interest Income<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">35.0<\/td>\n<td class=\"gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i20 hugin gnw_vertical_align_bottom\">Total Expenses after fees waived <sup>(2)<\/sup><\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">(9.4<\/td>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\">)<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_align_left hugin gnw_vertical_align_bottom\"><strong>Total Comprehensive Loss<\/strong><\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_top_solid gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_top_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">(93.2<\/td>\n<td class=\"gnw_border_top_solid gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\">)<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"3\" \/><\/tr>\n<tr>\n<td class=\"gnw_align_left hugin gnw_vertical_align_bottom\"><strong>Capital Activities<\/strong><\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"3\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i20 hugin gnw_vertical_align_bottom\">Issuance of common stock<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">80.7<\/td>\n<td class=\"gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i20 hugin gnw_vertical_align_bottom\">Common stock repurchases<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">(1.5<\/td>\n<td class=\"gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\">)<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_label_i20 hugin gnw_vertical_align_bottom\">Dividends<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">(35.2<\/td>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\">)<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_align_left hugin gnw_vertical_align_bottom\"><strong>Total Stockholders&#8217; Equity \u2013 Ending<\/strong><\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">972.7<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\" \/><\/tr>\n<\/table>\n<p align=\"justify\">(1) Includes both realized and unrealized gains and losses. <br \/>(2) The Company\u2019s external manager has waived a portion of its contractual management fee at the rate of $0.65 million per month until further notice.<\/p>\n<table class=\"gnw_table_border_collapse hugin\" style=\"width:100%;border-collapse:collapse !important\">\n<tr>\n<td class=\"gnw_align_left hugin gnw_vertical_align_bottom\"><strong>Condensed balance sheet information: <\/strong><\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_center hugin gnw_vertical_align_bottom\" colspan=\"3\"><strong>June 30, 2022<\/strong><\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_top_solid gnw_border_bottom_solid gnw_align_center hugin gnw_vertical_align_bottom\" colspan=\"3\">(in millions)<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_align_left hugin gnw_vertical_align_bottom\">Assets<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_top_solid hugin gnw_vertical_align_bottom\" colspan=\"3\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i20 hugin gnw_vertical_align_bottom\" style=\"max-width:77%;width:77%;min-width:77%\">Cash<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" style=\"max-width:2%;width:2%;min-width:2%\" \/>\n<td class=\"gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\" style=\"max-width:2%;width:2%;min-width:2%\">$<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\" style=\"max-width:17%;width:17%;min-width:17%\">209.1<\/td>\n<td class=\"gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\" style=\"max-width:2%;width:2%;min-width:2%\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i20 hugin gnw_vertical_align_bottom\">Cash collateral posted to counterparties<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">24.6<\/td>\n<td class=\"gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i20 hugin gnw_vertical_align_bottom\">Investments in securities, at fair value:<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"3\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i30 hugin gnw_vertical_align_bottom\">Agency Securities<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">6,697.4<\/td>\n<td class=\"gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i30 hugin gnw_vertical_align_bottom\">U.S. Treasury Securities<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">596.5<\/td>\n<td class=\"gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i20 hugin gnw_vertical_align_bottom\">Receivable for unsettled sales<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">427.2<\/td>\n<td class=\"gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i20 hugin gnw_vertical_align_bottom\">Derivatives, at fair value<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">772.5<\/td>\n<td class=\"gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i20 hugin gnw_vertical_align_bottom\">Accrued interest receivable<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">21.6<\/td>\n<td class=\"gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i20 hugin gnw_vertical_align_bottom\">Prepaid and other<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">3.1<\/td>\n<td class=\"gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i20 hugin gnw_vertical_align_bottom\">Subordinated loan to BUCKLER<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">105.0<\/td>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_align_left hugin gnw_vertical_align_bottom\">Total Assets<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">8,857.0<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_top_double hugin gnw_vertical_align_bottom\" colspan=\"3\" \/><\/tr>\n<tr>\n<td class=\"gnw_align_left hugin gnw_vertical_align_bottom\">Liabilities:<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_left hugin gnw_vertical_align_bottom\" colspan=\"3\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i20 hugin gnw_vertical_align_bottom\">Repurchase agreements<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">6,692.5<\/td>\n<td class=\"gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i20 hugin gnw_vertical_align_bottom\">Cash collateral posted by counterparties<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">818.8<\/td>\n<td class=\"gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i20 hugin gnw_vertical_align_bottom\">Payable for unsettled purchases<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">358.8<\/td>\n<td class=\"gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i20 hugin gnw_vertical_align_bottom\">Derivatives, at fair value<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">3.8<\/td>\n<td class=\"gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i20 hugin gnw_vertical_align_bottom\">Accrued interest payable- repurchase agreements<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">5.4<\/td>\n<td class=\"gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i20 hugin gnw_vertical_align_bottom\">Accounts payable and other accrued expenses<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">5.0<\/td>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_align_left hugin gnw_vertical_align_bottom\">Total Liabilities<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_top_solid gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_top_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">7,884.3<\/td>\n<td class=\"gnw_border_top_solid gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"3\" \/><\/tr>\n<tr>\n<td class=\"gnw_align_left hugin gnw_vertical_align_bottom\">Stockholders\u2019 Equity:<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_left hugin gnw_vertical_align_bottom\" colspan=\"3\" \/><\/tr>\n<tr>\n<td class=\"gnw_align_left hugin gnw_vertical_align_bottom\">7.00% Cumulative Redeemable Preferred C Stock ($0.001 par value per share, $25.00 per share liquidation preference) &#8211; 6,846,978 shares outstanding<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">\u2014<\/td>\n<td class=\"gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_align_left hugin gnw_vertical_align_bottom\">Common stock ($0.001 par value per share) &#8211; 110,586,253 shares outstanding:<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">0.1<\/td>\n<td class=\"gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_align_left hugin gnw_vertical_align_bottom\">Additional paid-in capital<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">3,537.6<\/td>\n<td class=\"gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_align_left hugin gnw_vertical_align_bottom\">Cumulative distributions to stockholders<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">(1,905.2<\/td>\n<td class=\"gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\">)<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_align_left hugin gnw_vertical_align_bottom\">Accumulated net loss<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">(653.6<\/td>\n<td class=\"gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\">)<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_align_left hugin gnw_vertical_align_bottom\">Accumulated other comprehensive loss<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">(6.2<\/td>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\">)<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_align_left hugin gnw_vertical_align_bottom\">Total Stockholders\u2019 Equity<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_top_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">972.7<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_align_left hugin gnw_vertical_align_bottom\">Total Liabilities and Stockholders\u2019 Equity<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">8,857.0<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\" \/><\/tr>\n<\/table>\n<p align=\"justify\"><strong>Distributable Earnings, Including TBA Drop Income<\/strong><\/p>\n<p align=\"justify\">Distributable Earnings (defined in more detail below) is a non-GAAP measure defined as net interest income plus TBA Drop Income minus hedging costs and net operating expenses. Distributable Earnings differs from GAAP total comprehensive loss, which include gains and losses and market value adjustments as described below.<\/p>\n<p align=\"justify\">For a portion of its Agency Securities the Company may enter into TBA forward contracts for the purchase or sale of Agency Securities at a predetermined price, face amount, issuer, coupon and stated maturity on an agreed-upon future date, but the particular Agency Securities to be delivered are not identified until shortly before the TBA settlement date. The Company accounts for TBA Agency Securities as derivative instruments if it is reasonably possible that it will not take or make physical delivery of the Agency Securities upon settlement of the contract. The Company may choose, prior to settlement, to move the settlement of these securities out to a later date by entering into an offsetting short or long position (referred to as a \u201cpair off\u201d), net settling the paired off positions for cash, and simultaneously purchasing or selling a similar TBA Agency Security for a later settlement date. This transaction is commonly referred to as a \u201cdollar roll.\u201d The Company accounts for TBA dollar roll transactions as a series of derivative transactions.<\/p>\n<p align=\"justify\">Forward settling TBA contracts typically trade at a discount, or \u201cDrop,\u201d to the regular settled TBA contract to reflect the expected interest income on the underlying deliverable Agency Securities, net of an implied financing cost, which would have been earned by the buyer if the contract settled on the next regular settlement date. When the Company enters into TBA contracts to buy Agency Securities for forward settlement, it earns this \u201cTBA Drop Income,\u201d because the TBA contract is essentially a leveraged investment in the underlying Agency Securities. The amount of TBA Drop Income is calculated as the difference between the spot price of similar TBA contracts for regular settlement and the forward settlement price on the trade date. The Company generally accounts for TBA contracts as derivatives and TBA Drop Income is included as part of the periodic changes in fair value of the TBA contracts that the Company recognizes currently in the Other Income (Loss) section of its Consolidated Statement of Operations.<\/p>\n<p align=\"justify\"><strong>Regulation G Reconciliation<\/strong><\/p>\n<p align=\"justify\">Distributable Earnings, including TBA Drop income, excludes gains or losses from securities sales and early termination of derivatives, market value adjustments (including impairments) and certain non-recurring expenses. The Company believes that Distributable Earnings and Distributable Earnings per common share are useful to investors because our Board of Directors considers Distributable Earnings and Distributable Earnings per common share when determining the level of dividends on our common stock. Distributable Earnings and Distributable Earnings per common share tend to be more stable over time and this practice is designed to increase the stability of our common stock dividend from month to month. However, because Distributable Earnings is an incomplete measure of the Company\u2019s financial performance and involves differences from total comprehensive income (loss) computed in accordance with GAAP, Distributable Earnings should be considered as supplementary to, and not as a substitute for, the Company\u2019s total comprehensive income (loss) computed in accordance with GAAP as a measure of the Company\u2019s financial performance.<\/p>\n<p align=\"justify\">The elements of ARMOUR\u2019s Distributable Earnings and Distributable Earnings per common share and a reconciliation of those amounts to the Company\u2019s Total Comprehensive Loss and Comprehensive loss per common share appear below:<\/p>\n<table class=\"gnw_table_border_collapse hugin\" style=\"width:100%;border-collapse:collapse !important\">\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_center hugin gnw_vertical_align_bottom\" colspan=\"3\"><strong>Q2 2022<\/strong><br \/><strong>(unaudited)<\/strong><\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_top_solid gnw_border_bottom_solid gnw_align_center hugin gnw_vertical_align_bottom\" colspan=\"3\">(in millions)<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_align_left hugin gnw_vertical_align_bottom\" style=\"max-width:77%;width:77%;min-width:77%\"><strong>Net Interest Income<\/strong><\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" style=\"max-width:2%;width:2%;min-width:2%\" \/>\n<td class=\"gnw_border_top_solid gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\" style=\"max-width:2%;width:2%;min-width:2%\">$<\/td>\n<td class=\"gnw_border_top_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\" style=\"max-width:17%;width:17%;min-width:17%\">35.0<\/td>\n<td class=\"gnw_border_top_solid gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\" style=\"max-width:2%;width:2%;min-width:2%\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i20 hugin gnw_vertical_align_bottom\">TBA Drop Income<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">7.1<\/td>\n<td class=\"gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i20 hugin gnw_vertical_align_bottom\">Net interest income on interest rate swaps<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">1.5<\/td>\n<td class=\"gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i20 hugin gnw_vertical_align_bottom\">Total Expenses after fees waived<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">(9.4<\/td>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\">)<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_align_left hugin gnw_vertical_align_bottom\"><strong>Distributable Earnings<\/strong><\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_top_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">34.2<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i20 hugin gnw_vertical_align_bottom\">Dividends on Preferred Stock<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_top_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">(3.0<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\">)<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_align_left hugin gnw_vertical_align_bottom\"><strong>Distributable Earnings available to common stockholders<\/strong><\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">31.2<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_align_left hugin gnw_vertical_align_bottom\"><strong>Distributable Earnings per common share<\/strong><\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_top_double gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_top_double gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">0.29<\/td>\n<td class=\"gnw_border_top_double gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"3\" \/><\/tr>\n<tr>\n<td class=\"gnw_align_left hugin gnw_vertical_align_bottom\"><strong>Distributable Earnings<\/strong><\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">34.2<\/td>\n<td class=\"gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i20 hugin gnw_vertical_align_bottom\">Loss on MBS<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">(291.1<\/td>\n<td class=\"gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\">)<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_label_i20 hugin gnw_vertical_align_bottom\">Loss on U.S. Treasury Securities<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">(34.0<\/td>\n<td class=\"gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\">)<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_label_i20 hugin gnw_vertical_align_bottom\">Loss on TBA Securities, less TBA Drop Income<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">(25.0<\/td>\n<td class=\"gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\">)<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_label_i20 hugin gnw_vertical_align_bottom\">Unrealized gain on interest rate swaps<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">220.5<\/td>\n<td class=\"gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i20 hugin gnw_vertical_align_bottom\">Futures contracts<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">2.2<\/td>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_align_left hugin gnw_vertical_align_bottom\"><strong>Total Comprehensive Loss<\/strong><\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_top_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">(93.2<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\">)<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_label_i20 hugin gnw_vertical_align_bottom\">Dividends on Preferred Stock<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_top_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">(3.0<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\">)<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_align_left hugin gnw_vertical_align_bottom\"><strong>Comprehensive loss related to common stockholders<\/strong><\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">(96.2<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\">)<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_align_left hugin gnw_vertical_align_bottom\"><strong>Comprehensive loss per common share<\/strong><\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_top_double gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_top_double gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">(0.90<\/td>\n<td class=\"gnw_border_top_double gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\">)<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_align_left hugin gnw_vertical_align_bottom\">Weighted average common shares outstanding &#8211; 106,513,672<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"3\" \/><\/tr>\n<\/table>\n<p align=\"left\"><strong>Company Update<\/strong><\/p>\n<p align=\"left\">At the close of business on July 26, 2022:<\/p>\n<ul type=\"circle\">\n<li style=\"margin-bottom:3pt;text-align:left\">Common stock outstanding of 114,634,561 shares.<\/li>\n<li style=\"margin-bottom:3pt;text-align:left\">7.00% Cumulative Redeemable Preferred C Stock (&#8220;Series C Preferred Stock&#8221;) with liquidation preference totaling approximately $171.2 million.<\/li>\n<li style=\"margin-bottom:3pt;text-align:left\">Estimated Book value per common share was approximately $7.30.<\/li>\n<li style=\"margin-bottom:3pt;text-align:left\">Liquidity, including cash and unencumbered securities, exceeded $656 million.<\/li>\n<li style=\"margin-bottom:3pt;text-align:left\">Securities portfolio included approximately $8.1 billion of Agency MBS (including TBA Securities) and U.S. Treasury Securities.<\/li>\n<li style=\"text-align:left\">Debt to equity ratio (based on repurchase agreements divided by total stockholders&#8217; equity) was approximately 7.4 to 1. Leverage, including TBA Securities was approximately 7.7 to 1.<\/li>\n<\/ul>\n<p align=\"justify\">Through July 26, 2022, we issued 4,048 shares under our 2021 Common stock ATM Sales Agreement for proceeds of $28,488 net of issuance costs and commissions of $295.<\/p>\n<p align=\"justify\"><strong>Dividends<\/strong><\/p>\n<p align=\"justify\">ARMOUR paid monthly cash dividends of $0.10 per share of the Company\u2019s common stock for each month in Q2 2022. ARMOUR will pay common stock dividends of $0.10 per share on July 29, 2022 to holders of record on July 15, 2022. ARMOUR previously announced the August common stock dividends of $0.10 per share to be paid on August 29, 2022 to holders of record on August 15, 2022. ARMOUR\u2019s Board of Directors will determine future common dividend rates based on an evaluation of the Company\u2019s results, financial position, real estate investment trust (\u201cREIT\u201d) tax requirements, and overall market conditions as the quarter progresses. In order to maintain ARMOUR\u2019s tax status as a REIT, the Company is required to timely distribute substantially all of its ordinary REIT taxable income for the tax year.<\/p>\n<p align=\"justify\">ARMOUR paid monthly cash dividends of $0.14583 per share of the Company\u2019s Series C Preferred Stock for each month in Q2 2022. ARMOUR paid Series C Preferred Stock dividends of $0.14583 per share on July 27, 2022 to holders of record on July 15, 2022. ARMOUR previously announced the August and September Series C Preferred Stock dividends of $0.14583 per share to be paid on August 29, 2022 and September 27, 2022 to holders of record on August 15, 2022 and September 15, 2022, respectively.<\/p>\n<p align=\"justify\"><strong>Conference Call<\/strong><\/p>\n<p align=\"justify\">As previously announced, the Company will provide an online, real-time webcast of its conference call with equity analysts covering Q2 2022 operating results on Thursday, July 28, 2022, at 8:00 a.m. (Eastern Time). The live broadcast will be available online and can be accessed at <u><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=3qKyMSCl3PfNXKISMnDgcyfXL-DbtOGE8naVJJh3m_EAUZ3ohNUD8SSJL-UeFE6NFOZNruFYxhlZ0GYgnhMUcKLCnpmtX7qsOwhfPL2qUeUIXB3W1oXeNM9DnmMPglvoXwOr4O7_IcdDVOLRjxGP85tKfi_XTVvSoPjvBpUivSt_UxjBF9rLehqfea0PwbkT_jqfZr7EStx7OEBWnWt4y9YSQYDvDtc7uEvO8EaXeTQ=\" rel=\"nofollow noopener\" target=\"_blank\" title=\"\">https:\/\/event.choruscall.com\/mediaframe\/webcast.html?webcastid=j5YZf1iA<\/a><\/u>. To monitor the live webcast, please visit the website at least 15 minutes prior to the start of the call to register, download, and install any necessary audio software.An online replay of the event will be available on the Company\u2019s website at <u><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=KLzy2R1a2OGX62JcjaWUIO9MjGjdHoneuOgTs5U4bF9idWZG5RbhVDsQam7jmggO_ZI73khtYz9eUuVKAHm4Bfxu_QNdad_B9DQo_1Kq_Xw=\" rel=\"nofollow noopener\" target=\"_blank\" title=\"www.armourreit.com\">www.armourreit.com<\/a><\/u>and continue for one year.<\/p>\n<p align=\"justify\"><strong>ARMOUR Residential REIT, Inc.<\/strong><\/p>\n<p align=\"justify\">ARMOUR invests primarily in fixed rate residential, adjustable rate and hybrid adjustable rate residential mortgage-backed securities issued or guaranteed by U.S. Government-sponsored enterprises or guaranteed by the Government National Mortgage Association. ARMOUR is externally managed and advised by ARMOUR Capital Management LP, an investment advisor registered with the Securities and Exchange Commission (\u201cSEC\u201d).<\/p>\n<p align=\"justify\"><strong>Safe Harbor<\/strong><\/p>\n<p align=\"justify\">This press release includes \u201cforward-looking statements\u201d within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Actual results may differ from expectations, estimates and projections and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as \u201cexpect,\u201d \u201cestimate,\u201d \u201cproject,\u201d \u201cbudget,\u201d \u201cforecast,\u201d \u201canticipate,\u201d \u201cintend,\u201d \u201cplan,\u201d \u201cmay,\u201d \u201cwill,\u201d \u201ccould,\u201d \u201cshould,\u201d \u201cbelieves,\u201d \u201cpredicts,\u201d \u201cpotential,\u201d \u201ccontinue,\u201d and similar expressions are intended to identify such forward-looking statements. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Additional information concerning these, the impact of the COVID-19 pandemic on the Company&#8217;s operational and financial performance and other risk factors are contained in the Company\u2019s most recent filings with the SEC. All subsequent written and oral forward-looking statements concerning the Company are expressly qualified in their entirety by the cautionary statements above. The Company cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. The Company does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law.<\/p>\n<p align=\"justify\"><strong>Additional Information and Where to Find It<\/strong><\/p>\n<p align=\"justify\">Investors, security holders and other interested persons may find ARMOUR&#8217;s most recent Company Update and additional information regarding the Company at the SEC\u2019s internet site at <u><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=aeYbWWWz14kvyfNefr5raSzUImIv0MmSxNn3pWkskoUveQr4mmxjr7KnR0_3ocwpBQOMbxW0Hc4V7H4C3grSZg==\" rel=\"nofollow noopener\" target=\"_blank\" title=\"www.sec.gov\">www.sec.gov<\/a><\/u>, or the Company website at <u><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=KLzy2R1a2OGX62JcjaWUIMkHUfpQXYQ4yDmAnBi-UCDPgFtP16J8B3RFUZes5q_t6OLl4uLTFiL7RuZaomz67HeQUq37UbvLKHzZE8EgvZk=\" rel=\"nofollow noopener\" target=\"_blank\" title=\"www.armourreit.com\">www.armourreit.com<\/a><\/u>or by directing requests to: ARMOUR Residential REIT, Inc., 3001 Ocean Drive, Suite 201, Vero Beach, Florida 32963, Attention: Investor Relations.<\/p>\n<p align=\"justify\">CONTACT: <u><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=8dfSi7A2Ccpi6-JsCSxXZm-zU6HXvvWIbB625fpPll1uoPkbMh7AikxZuF587W4zgnZymgQRTVjf-asFZnAU_kY5KS_sNAsUh1OWQ9rP_y0=\" rel=\"nofollow noopener\" target=\"_blank\" title=\"investors@armourreit.com\">investors@armourreit.com<\/a><\/u><br \/>James R. Mountain<br \/>Chief Financial Officer<br \/>ARMOUR Residential REIT, Inc. <br \/>(772) 617-4340<\/p>\n<p><img src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" class=\"lazyload\" data-src=\"https:\/\/ml.globenewswire.com\/media\/MzlkYzFkMzctZDBkMi00ZjIxLWE3NzctZWEzOGNiMGMyNzA3LTEwMzc5Mjc=\/tiny\/ARMOUR-Residential-REIT-Inc-.png\"><\/div>\n","protected":false},"excerpt":{"rendered":"<div>\n<p align=\"justify\">VERO BEACH, Florida, July 27, 2022 (GLOBE NEWSWIRE) &#8212; ARMOUR Residential REIT, Inc. (NYSE: ARR and ARR PRC) (\u201cARMOUR\u201d or the \u201cCompany\u201d) today announced the Company&#8217;s Q2 results and June 30, 2022 financial position.<\/p>\n<\/div>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"","sticky":false,"template":"","format":"standard","meta":[],"categories":[11],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/6772"}],"collection":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/comments?post=6772"}],"version-history":[{"count":1,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/6772\/revisions"}],"predecessor-version":[{"id":6806,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/6772\/revisions\/6806"}],"wp:attachment":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/media?parent=6772"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/categories?post=6772"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/tags?post=6772"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}