- Adjusted funds from operations (AFFO) for Q2 2025 were $48.4 million or $1.71 per share, down 12% from the previous quarter.
- Balance sheet remains strong with $2.6 billion in primarily unencumbered gross assets and only $291 million in fixed rate debt.
- Liquidity is robust with over $190 million in cash and undrawn revolver, supporting future growth and investments.
- Repurchased 367,000 shares at an average price of $53.98 for $19.8 million, funded by cash and preferred stock issuance.
- Total revenues for Q2 2025 were $62.9 million, a 12% decrease from Q1 2025, primarily due to tenant defaults.
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- Community operating expenses increased by 7%, mainly due to acquisitions and higher payroll and maintenance costs, but same-property operating expense ratio improved to 38.2% from 39.4% last year.
- Debt totaled approximately $659 million with a weighted average interest rate of 4.63%, mostly fixed rate, and total market capitalization increased 13% to approximately $2.4 billion.
- Gross sales of manufactured homes increased by 19% for the quarter, with gains from sales at 14% of total sales.
- Normalized FFO for Q2 2025 was $0.23 per share, unchanged from Q2 2024, with a 16% increase in normalized FFO in dollar terms to $19.5 million.
- Same-property rental and related income increased by 8%, and same-property NOI increased by 10% for the quarter.
- Total revenue increased approximately 10% year-over-year to $66.6 million, driven by a 9% increase in rental and related income and a sales record of $10.5 million in manufactured home sales.
- 700,000 shares were repurchased through the stock repurchase program during the quarter.
- ARMOUR raised approximately $99.5 million by issuing 6 million shares through an ATM offering and $298.6 million from a $300 million overnight bought deal.
- ARMOUR Residential REIT reported GAAP net income of $156.3 million or $1.49 per common share for Q3 2025.
- Distributable earnings available to common stockholders were $75.3 million or $0.72 per common share.
- Monthly common stock dividends of $0.24 per share were paid, totaling $0.72 for the quarter.
- Net interest income was $38.5 million for the quarter.
- Quarter-end book value was $17.49 per common share, up 3.5% from June 30 and 2.8% from August 8.
- Total economic return for the quarter was 7.75%.
Dafinchi