ARMOR Residential REIT, Inc. (ARR): Business Model Canvas

Tauchen Sie ein in die komplexe Welt von ARMOR Residential REIT, Inc. (ARR), einem dynamischen Anlageinstrument, das hypothekenbesicherte Wertpapiere in eine attraktive Finanzmöglichkeit verwandelt. Dieser innovative Real Estate Investment Trust bietet Anlegern einen ausgefeilten Ansatz zur Generierung passiven Einkommens und nutzt dabei ein komplexes Netzwerk aus Finanzpartnerschaften und modernsten Anlagestrategien. Mit dem Fokus auf Lieferung hohe Dividendenrenditen und professionellem Portfoliomanagement bietet ARR einen einzigartigen Weg für Anleger, die auf dem Wohnhypothekenmarkt konstante Renditen anstreben.

ARMOR Residential REIT, Inc. (ARR) – Geschäftsmodell: Wichtige Partnerschaften

Hypothekengeber und Finanzinstitute

ARMOR Residential REIT arbeitet mit mehreren Finanzinstituten zusammen, um seine Anlagestrategie für hypothekenbesicherte Wertpapiere zu unterstützen.

Partnertyp	Anzahl der Partnerschaften	Gesamtkreditlinie
Große Geschäftsbanken	7	1,2 Milliarden US-Dollar
Regionale Finanzinstitute	12	850 Millionen Dollar

Investmentbanken und Kapitalmarktfirmen

Das Unternehmen unterhält strategische Beziehungen zu Investmentbanking-Partnern für Wertpapiertransaktionen und Markteinblicke.

• Goldman Sachs
• Morgan Stanley
• JPMorgan Chase
• Wertpapiere der Bank of America

Plattformen für Immobilieninvestitionen

Plattform	Partnerschaftsstatus	Jährliches Transaktionsvolumen
Hypothekenbesicherte Wertpapierbörse	Aktiv	3,4 Milliarden US-Dollar
Netzwerk für Wohnhypotheken	Aktiv	2,1 Milliarden US-Dollar

Partner zur Einhaltung gesetzlicher Vorschriften

ARMOR Residential REIT arbeitet mit spezialisierten Compliance- und Rechtsberatungsfirmen zusammen, um die Einhaltung gesetzlicher Vorschriften sicherzustellen.

• Regulierungsberatungsunternehmen: 3
• Berater für Rechtskonformität: 2
• Jährliches Compliance-Budget: 4,5 Millionen US-Dollar

ARMOR Residential REIT, Inc. (ARR) – Geschäftsmodell: Hauptaktivitäten

Hypothekenbesicherte Wertpapieranlage

ARMOR Residential REIT konzentriert sich auf Investitionen in Residential Mortgage-Backed Securities (RMBS). Im vierten Quartal 2023 bestand das Anlageportfolio des Unternehmens aus:

Sicherheitstyp	Gesamtwert	Prozentsatz des Portfolios
Agentur RMBS	1,84 Milliarden US-Dollar	92.3%
Nicht-Agentur-RMBS	153,6 Millionen US-Dollar	7.7%

Portfoliomanagement und Risikobewertung

Zu den wichtigsten Risikomanagementstrategien gehören:

• Zinsabsicherung
• Diversifizierung über verschiedene Hypothekenarten
• Kontinuierliche Bonitätsüberwachung

Risikokennzahlen zum 31. Dezember 2023:

Metrisch	Wert
Verhältnis von Schulden zu Eigenkapital	5.2:1
Nettozinsspanne	1.75%

Dividendenausschüttung an die Aktionäre

Dividendendetails für 2023:

Viertel	Dividende pro Aktie	Gezahlte Gesamtdividende
1. Quartal 2023	$0.10	14,2 Millionen US-Dollar
Q2 2023	$0.10	14,2 Millionen US-Dollar
Q3 2023	$0.10	14,2 Millionen US-Dollar
Q4 2023	$0.10	14,2 Millionen US-Dollar

Kontinuierliche Überwachung der Marktleistung

Kennzahlen zur Leistungsverfolgung:

• Monatliche Portfoliobewertung
• Vierteljährliche Finanzberichterstattung
• Zinsanalyse in Echtzeit

Marktleistungsindikatoren für 2023:

Metrisch	Wert
Gesamtumsatz	186,5 Millionen US-Dollar
Nettoeinkommen	42,3 Millionen US-Dollar
Eigenkapitalrendite	8.6%

ARMOR Residential REIT, Inc. (ARR) – Geschäftsmodell: Schlüsselressourcen

Erhebliches Investitionskapital

Im vierten Quartal 2023 meldete ARMOR Residential REIT, Inc. ein Gesamtvermögen von 1,84 Milliarden US-Dollar. Das Anlageportfolio des Unternehmens bestand aus:

Asset-Kategorie	Wert
Agency Residential Mortgage-Backed Securities	1,65 Milliarden US-Dollar
Non-Agency Residential Mortgage-Backed Securities	89,3 Millionen US-Dollar
Zahlungsmittel und Zahlungsmitteläquivalente	42,6 Millionen US-Dollar

Erfahrenes Finanzmanagement-Team

Zu den wichtigsten Führungsaufgaben gehören:

• Scott Ulm – stellvertretender Vorsitzender und Chief Operating Officer
• Jeffrey Zimmer – Präsident und Chief Executive Officer
• James Mountain – Finanzvorstand

Anspruchsvolle Investment-Analytics-Plattformen

Technologieinfrastruktur:

• Fortschrittliche Risikomanagementsysteme
• Echtzeit-Marktanalysetools
• Proprietäre Software zur Investitionsmodellierung

Umfangreiches Netzwerk an Finanzbeziehungen

Art des Finanzpartners	Anzahl der Beziehungen
Institutionelle Anleger	37
Investmentbanken	12
Hypothekengeber	18

Robuste Risikomanagement-Infrastruktur

Risikomanagementkennzahlen ab 2023:

• Verhältnis von Schulden zu Eigenkapital: 3,8:1
• Zinsabsicherungsdeckung: 65 %
• Bewertung der Einhaltung gesetzlicher Vorschriften: 98,5 %

ARMOR Residential REIT, Inc. (ARR) – Geschäftsmodell: Wertversprechen

Hohe Dividendenrendite für Anleger

Im vierten Quartal 2023 meldete ARMOR Residential REIT eine Dividendenrendite von 19,44 %. Die Dividende des Unternehmens pro Aktie betrug 0,10 US-Dollar pro Monat, was einer jährlichen Dividende von 1,20 US-Dollar pro Aktie entspricht.

Dividendenkennzahl	Wert
Dividendenrendite	19.44%
Monatliche Dividende	0,10 $ pro Aktie
Jährliche Dividende	1,20 $ pro Aktie

Passives Einkommen durch hypothekenbesicherte Wertpapiere

ARMOR Residential REIT verwaltet ein Portfolio von 1,3 Milliarden US-Dollar in Residential Mortgage-Backed Securities zum 31. Dezember 2023.

• Hypothekenbesicherte Wertpapiere von Agenturen: 98,7 % des Portfolios
• Nicht-staatliche hypothekenbesicherte Wertpapiere: 1,3 % des Portfolios

Professionelles Management von Wohnimmobilien-Hypothekeninvestitionen

Die Zusammensetzung des Anlageportfolios des Unternehmens im vierten Quartal 2023:

Sicherheitstyp	Prozentsatz
Festpreis-Agentur-MBS	72.4%
Agentur-MBS mit variablem Zinssatz	26.3%
Andere Wertpapiere	1.3%

Potenzial für konstante vierteljährliche Renditen

Finanzielle Leistung für 2023:

• Nettozinsertrag: 83,4 Millionen US-Dollar
• Nettoeinkommen: 45,2 Millionen US-Dollar
• Gesamteinkommen: 62,7 Millionen US-Dollar

Möglichkeit zur Portfoliodiversifizierung

Die Anlagestrategie konzentriert sich auf:

• Hypothekenbesicherte Wertpapiere der Agentur
• Hybride Hypothekenpapiere mit variablem Zinssatz
• Festverzinsliche Hypothekenpapiere

Gesamtwert des Anlageportfolios: 1,3 Milliarden US-Dollar Stand: 31. Dezember 2023.

ARMOR Residential REIT, Inc. (ARR) – Geschäftsmodell: Kundenbeziehungen

Transparente vierteljährliche Finanzberichterstattung

ARMOR Residential REIT, Inc. stellt ab dem 4. Quartal 2023 vierteljährliche Finanzberichte mit den folgenden Schlüsselkennzahlen bereit:

Finanzkennzahl	Wert
Gesamtinvestitionsportfolio	1,79 Milliarden US-Dollar
Nettozinsertrag	37,5 Millionen US-Dollar
Vierteljährliche Dividende	0,10 $ pro Aktie

Regelmäßige Anlegerkommunikation

ARMOR pflegt die Anlegerkommunikation über mehrere Kanäle:

• Telefonkonferenzen zu den Quartalsergebnissen
• Jährliche Aktionärsberichte
• Aktualisierungen der SEC-Einreichung

Zugang zum Online-Investorenportal

Das Unternehmen stellt digitale Anlegerressourcen bereit, darunter:

• Verfolgung des Aktienkurses in Echtzeit
• Historische finanzielle Leistungsdaten
• Interaktive Finanzpräsentationen

Aktionärsversammlungen und Aktualisierungen

Besprechungstyp	Häufigkeit	Beteiligungsmethode
Jahreshauptversammlung	Einmal im Jahr	Virtuelle und persönliche Optionen
Vierteljährliche Investorengespräche	4 mal jährlich	Webcast und Telefonkonferenz

Engagierte Investor-Relations-Unterstützung

Kontaktdaten für Investor Relations:

• Direkte Telefonnummer: (877) 486-1485
• E-Mail: investorrelations@armourres.com
• Engagiertes Investor-Relations-Team

ARMOR Residential REIT, Inc. (ARR) – Geschäftsmodell: Kanäle

Börsennotierung (NYSE)

ARMOR Residential REIT, Inc. (ARR) ist an der New York Stock Exchange (NYSE) unter dem Tickersymbol ARR notiert. Handelsvolumen ab Q4 2023: Durchschnittliches tägliches Handelsvolumen von 1.237.000 Aktien.

Austausch	Tickersymbol	Listungsdatum
NYSE	ARR	2008

Online-Investitionsplattformen

ARMOR Residential REIT nutzt mehrere Online-Investmentplattformen für den Anlegerzugang und den Handel.

• Charles Schwab
• Fidelity Investments
• TD Ameritrade
• E*TRADE
• Robinhood

Finanzberatungsnetzwerke

Der Vertrieb über Finanzberatungsnetzwerke umfasst:

Netzwerk	Investorenreichweite
Morgan Stanley	Über 14.000 Finanzberater
Merrill Lynch	Über 16.000 Finanzberater

Investor-Relations-Website

Website: www.armourresidential.com Vierteljährlicher Website-Traffic: Ungefähr 45.000 einzelne Besucher pro Quartal.

Telefonkonferenzen zu den Quartalsergebnissen

Details zur Telefonkonferenz 2023:

Viertel	Datum	Anzahl der Teilnehmer
1. Quartal 2023	15. Mai 2023	187 Teilnehmer
Q2 2023	14. August 2023	203 Teilnehmer
Q3 2023	13. November 2023	176 Teilnehmer

ARMOR Residential REIT, Inc. (ARR) – Geschäftsmodell: Kundensegmente

Institutionelle Anleger

Im vierten Quartal 2023 betrug der institutionelle Besitz von ARMOR Residential REIT 51,23 %. Zu den wichtigsten institutionellen Investoren gehören:

Anlegertyp	Prozentsatz des Eigentums	Gesamtinvestitionswert
Investmentfonds	22.5%	187,6 Millionen US-Dollar
Pensionskassen	15.3%	127,4 Millionen US-Dollar
Anlageberater	13.4%	111,9 Millionen US-Dollar

Privatanleger auf der Suche nach Einkommen

ARMOR richtet sich an Privatanleger mit besonderen Merkmalen:

• Durchschnittliche Portfoliogröße: 50.000 bis 250.000 US-Dollar
• Dividendenrendite ab 2024: 13,47 %
• Monatliche Dividendenausschüttung: 0,10 USD pro Aktie

Vermögende Privatpersonen

Gezielter vermögender Investor profile:

Investitionskriterien	Typischer Bereich
Mindestinvestition	$500,000
Durchschnittliche Portfolioallokation	3-5 % bei Hypotheken-REITs
Typisches Vermögen	1,5 bis 10 Millionen US-Dollar

Portfoliomanager für die Altersvorsorge

Wichtige Kennzahlen für Rentenportfoliomanager:

• Durchschnittliche Allokation in ARR: 1,2 % des Gesamtportfolios
• Risikoadjustierte Rendite: 7,3 %
• Fünfjährige Gesamtrendite: 42,6 %

Ertragsorientierte Investmentfonds

Segmentaufteilung für einkommensorientierte Fonds:

Fondstyp	Zuteilungsprozentsatz	Gesamtinvestition
Einkommensgenerierungsfonds	35.6%	298,5 Millionen US-Dollar
Renditeorientierte ETFs	27.3%	229,1 Millionen US-Dollar
Rentenfonds	18.9%	158,6 Millionen US-Dollar

ARMOR Residential REIT, Inc. (ARR) – Geschäftsmodell: Kostenstruktur

Zinsaufwendungen für Kredite

Im dritten Quartal 2023 beliefen sich die gesamten Zinsaufwendungen von ARMOR Residential REIT auf 40,3 Millionen US-Dollar. Die durchschnittlichen Fremdkapitalkosten des Unternehmens betrugen etwa 4,75 %.

Ausleihtyp	Betrag ($)	Zinssatz
Rückkaufvereinbarungen	1,812,000,000	4.62%
Gesicherte Finanzierung	245,000,000	5.25%

Management- und Betriebsaufwand

Die gesamten Verwaltungskosten beliefen sich im Jahr 2023 auf 14,2 Millionen US-Dollar, was etwa 0,85 % des Gesamtvermögens entspricht.

• Vergütung der Geschäftsleitung: 3,7 Millionen US-Dollar
• Mitarbeitergehälter: 6,5 Millionen US-Dollar
• Verwaltungskosten: 4,0 Millionen US-Dollar

Compliance- und Regulierungskosten

Die jährlichen Compliance-Kosten für 2023 beliefen sich auf insgesamt 2,1 Millionen US-Dollar.

Compliance-Kategorie	Aufwand ($)
Anwalts- und Prüfungsgebühren	1,200,000
Kosten für die behördliche Einreichung	450,000
Compliance-Software	450,000

Kosten für Anlageforschung und Analyse

Die Ausgaben für Investitionsforschung beliefen sich im Jahr 2023 auf 1,5 Millionen US-Dollar.

• Marktdatenabonnements: 650.000 $
• Forschungstools: 450.000 US-Dollar
• Externe Beratung: 400.000 $

Aufwendungen für Marketing und Investor Relations

Das Gesamtbudget für Marketing und Investor Relations belief sich für 2023 auf 850.000 US-Dollar.

Marketingaktivität	Aufwand ($)
Teilnahme an der Investorenkonferenz	250,000
Digitales Marketing	300,000
Erstellung des Jahresberichts	150,000
Investorenkommunikation	150,000

ARMOR Residential REIT, Inc. (ARR) – Geschäftsmodell: Einnahmequellen

Zinserträge aus hypothekenbesicherten Wertpapieren

Stand Q3 2023, berichtete ARMOR Residential REIT 33,6 Millionen US-Dollar an Zinserträgen aus Agency- und Non-Agency-Mortgage-Backed-Securities. Das Anlageportfolio des Unternehmens besteht hauptsächlich aus Residential Mortgage Backed Securities (RMBS).

Sicherheitstyp	Gesamtwert	Ertrag
Agentur RMBS	1,84 Milliarden US-Dollar	4.75%
Nicht-Agentur-RMBS	126,5 Millionen US-Dollar	6.25%

Kapitalwertsteigerung des Anlageportfolios

Im Jahr 2023 erlebte ARMOR Residential REIT nicht realisierte Gewinne in Höhe von 42,3 Millionen US-Dollar aus der Bewertung seines Anlageportfolios.

Dividendenausschüttungen

Das Unternehmen verfolgt eine konsequente Dividendenausschüttungsstrategie:

• Vierteljährliche Dividende: 0,10 USD pro Stammaktie
• Jährliche Dividendenrendite: ca. 14,5 %
• Gesamtdividendenausschüttungen im Jahr 2023: 18,7 Millionen US-Dollar

Handelsgewinne aus der Wertpapierverwaltung

Handelsaktivitäten generiert 12,4 Millionen US-Dollar an realisierten Nettogewinnen aus Wertpapiertransaktionen im Jahr 2023.

Handelsaktivität	Realisierte Gewinne
Agentur-Wertpapierhandel	8,9 Millionen US-Dollar
Nicht-behördlicher Wertpapierhandel	3,5 Millionen Dollar

Performancegebühren für Anlageportfolios

Erfolgsabhängige Gebühren summierten sich 2,1 Millionen US-Dollar im Jahr 2023, abgeleitet aus Portfoliomanagement und Anlagestrategien.

ARMOUR Residential REIT, Inc. (ARR) - Canvas Business Model: Value Propositions

You're looking at the core reasons why an investor would choose ARMOUR Residential REIT, Inc. (ARR) over other options in the market right now. It boils down to yield, safety, and consistency, all backed by hard numbers from late 2025 filings.

High-Yield Income: Attractive current dividend yield of around 17.54% (November 2025)

The income proposition is front and center for ARMOUR Residential REIT, Inc. (ARR). The actual reported yields hover near that target, making it a significant draw for income-focused portfolios. The commitment is to a high payout, supported by the underlying asset performance.

• Monthly Common Dividend Declared: $0.24 per share.
• Reported Current Dividend Yield (as of November 2025 data): 17.8%.
• Trailing Twelve Month (TTM) Dividend Yield (as of late 2025): 16.89%.
• Expected Hedged Return on Equity (ROE) range: 16% to 18%.

Low Credit Risk: Portfolio is 97.9% Agency mortgage-backed securities (MBS)

The credit risk profile is intentionally low because the assets are overwhelmingly guaranteed by U.S. Government-sponsored enterprises. This means the risk of borrower default is minimal, shifting the focus to interest rate risk management instead.

Here's a snapshot of the investment portfolio composition as of September 30, 2025, which shows the concentration in agency assets:

Asset Class	Percentage of Portfolio	Value (millions)
Agency Portfolio (Total)	98.7%	$18,520
Agency MBS (Total)	97.9%	N/A
30 Year Fixed Rate Pools (Sub-component)	92.8%	$17,415
U.S. Treasury Securities	1.3%	$249

Monthly Cash Flow: Consistent monthly dividend payments for investors

ARMOUR Residential REIT, Inc. (ARR) adheres to the REIT requirement of distributing taxable income, which translates directly into a predictable monthly cash distribution schedule for shareholders. This frequency is a key feature for investors relying on regular income streams.

• Dividend Payment Frequency: Monthly.
• Distributable Earnings per common share (Q3 2025): $0.72.
• Total Dividends Paid Through October 2025 (Since Inception): $2.5 billion.

Capital Preservation: Active hedging to moderate interest rate and price risk

Since the assets are long-duration fixed-rate securities, the primary risk is interest rate movement. ARMOUR Residential REIT, Inc. (ARR) actively uses derivatives to manage this exposure, aiming to keep the net duration tight to limit volatility in book value.

The hedging strategy details from Q3 2025 show a clear focus on managing rate exposure:

• Net Duration Maintained: Short at approximately 0.2 years.
• Notional Allocation to SOFR/OIS Swaps: Approximately 87%.
• Use of Derivatives: Interest rate swaps and futures contracts are used to hedge against potential fluctuations in interest rates.
• Liquidity Position (as of September 30, 2025): Approximately $1.1 billion.

Finance: draft 13-week cash view by Friday.

ARMOUR Residential REIT, Inc. (ARR) - Canvas Business Model: Customer Relationships

You're looking at how ARMOUR Residential REIT, Inc. (ARR) manages the relationship with its equity holders, which is fundamentally different from a typical operating company. For ARR, the primary customer relationship is transactional, centered on the public market where shares are bought and sold.

Transactional: Primarily through public stock trading on the NYSE

The direct, moment-to-moment relationship with the shareholder happens on the New York Stock Exchange (NYSE). This is where liquidity is found, and where the market sets the price you see every second. As of the third quarter of 2025, the company carried a market capitalization of approximately $1.78 billion. This market value dictates the entry and exit point for most investors, making the stock's trading performance a key, albeit indirect, measure of customer satisfaction.

Investor Relations: Regular quarterly calls and monthly portfolio updates

To maintain a deeper connection beyond the ticker price, ARMOUR Residential REIT, Inc. relies on structured communication. You can see this commitment clearly in their reporting cadence. For instance, the Q3 2025 earnings release was on October 22, 2025, followed by a live conference call on October 23, 2025, at 8:00 a.m. Eastern Time to discuss results with analysts and investors. They make replays available for one year, showing a defintely structured approach to ongoing dialogue.

These interactions are crucial for explaining the complex portfolio, which as of September 30, 2025, totaled $18.2 billion, comprised of 97.9% Agency mortgage-backed securities.

Here's a quick look at some of the key figures shared with investors following the Q3 2025 reporting period:

Metric	Value (Q3 2025)	Unit/Context
Distributable Earnings (Common Stockholders)	$75.3 million	Q3 2025
Distributable Earnings Per Share	$0.72	Q3 2025
GAAP Net Income (Common Stockholders)	$156.3 million	Q3 2025
Book Value Per Common Share	$17.49	As of September 30, 2025
Total Economic Return	7.75%	Q3 2025

Dividend Focus: Relationship is maintained via the monthly distribution of income

For an income-focused investor, the monthly dividend is the most tangible element of the relationship. ARMOUR Residential REIT, Inc. maintains this connection by consistently declaring and paying distributions. For example, the common stock dividend for November 2025 was declared at $0.24 per share, payable on November 28, 2025, to holders of record on November 17, 2025. This monthly cadence is the bedrock of the income investor relationship. This consistent payout translates to an annualized dividend of $2.88 per share, supporting a trailing twelve months (TTM) dividend yield of 16.89% as of late 2025.

The relationship is also segmented by security type, as the Series C Preferred Stock holders receive a different, fixed monthly payment. For Q3 2025, the Series C Preferred Stock dividend was confirmed at $0.14583 per share monthly.

You should note the context of these payments:

• Monthly Common Dividend Amount: $0.24 per share (e.g., November 2025)
• Annualized Common Dividend: $2.88 per share
• Reported TTM Dividend Yield: 16.89%
• Reported TTM Payout Ratio: 380.5323%
• Series C Preferred Monthly Dividend: $0.14583 per share
• Capital Raised via ATM in Q3 2025: $99.5 million (from approx. 6 million shares)

Finance: draft 13-week cash view by Friday.

ARMOUR Residential REIT, Inc. (ARR) - Canvas Business Model: Channels

The channels ARMOUR Residential REIT, Inc. (ARR) uses to reach and serve its investor customer segments are centered around public market access and direct corporate communication.

New York Stock Exchange (NYSE: ARR): Primary trading venue for common stock

The common stock of ARMOUR Residential REIT, Inc. trades on the New York Stock Exchange under the ticker symbol ARR. The Series C Cumulative Redeemable Preferred Stock trades under the ticker ARR-PRC on the same exchange. This venue is the primary point of liquidity and price discovery for the equity base.

Here are some key trading metrics as of late 2025:

Metric	Value	Date/Context
Closing Price	$17.05	End of day November 25, 2025
Market Capitalization	$1,521,376,373	Recent data
Outstanding Common Shares	111,898,236	Recent data
52-Week High	$19.64	Recent data
52-Week Low	$13.18	Recent data
Recent Daily Share Volume	2,884,608	Recent data
April 2025 Common Dividend	$0.24 per share	April 2025 distribution

The common shares were trading at a circa 6% discount to the Q3 2025 book value of $17.49/share. This exchange is where retail and institutional investors execute trades to gain or adjust exposure to the ARMOUR Residential REIT, Inc. portfolio, which primarily consists of Agency Securities.

Investor Relations Website: Dissemination of SEC filings and portfolio data

The official Investor Relations website, www.armourreit.com, serves as the direct communication channel for corporate and financial transparency. This is where ARMOUR Residential REIT, Inc. provides the necessary documentation for due diligence.

The Investor Relations section offers access to:

• Latest 10-K, 10-Q, and Proxy Statements.
• News Releases, including the announcement of Q3 2025 Results on October 22, 2025.
• Monthly Company Updates.
• Presentations, such as the one dated November 14, 2025, detailing financial position and operations.
• Details on the portfolio, which invests primarily in residential mortgage-backed securities issued or guaranteed by U.S. Government-sponsored entities.

The company is managed by ARMOUR Capital Management LP, an investment advisor registered with the SEC, which oversees the investment and risk management strategies communicated through these channels.

Brokerage Platforms: Access for retail and institutional investors

ARMOUR Residential REIT, Inc. stock is accessible via virtually all standard brokerage firms, including online services. This broad accessibility through third-party platforms is key for reaching the diverse investor base.

For investors, these platforms facilitate:

• Execution of buy and sell orders for ARR common stock and ARR-PRC preferred stock.
• Access to real-time and delayed quotes, historical pricing, and charting tools.
• Integration with various order types, such as limit or market orders, to manage execution price.

For example, on November 25, 2025, the bid was $17.00 (X 619 shares) and the ask was $18.49 (X 219 shares) on one data feed, illustrating the mechanism of price negotiation on these platforms. This decentralized access helps maintain the stock's liquidity, supported by a recent daily volume of 2,884,608 shares.

ARMOUR Residential REIT, Inc. (ARR) - Canvas Business Model: Customer Segments

You're looking at the core groups ARMOUR Residential REIT, Inc. (ARR) serves with its structure, primarily focused on delivering consistent, high-yield income from its portfolio of residential mortgage-backed securities. These segments are defined by their risk tolerance and income needs, which directly influence their investment choice between common stock and preferred shares.

Income-Seeking Investors: Individuals and funds prioritizing high dividend yield

This group chases the high cash distribution that mortgage REITs are known for. They are focused on the current return on investment, often comparing ARR's yield against other real estate investment trusts (REITs) and fixed-income alternatives. ARMOUR Residential REIT, Inc. has definitely made this a central part of its appeal, maintaining a strong distribution schedule.

Here's the quick math on the common stock appeal as of late 2025:

• Monthly common stock dividend confirmed at $0.240 per share for October 2025.
• This translates to an annualized common dividend of $2.88 per share.
• The Trailing Twelve Months (TTM) dividend yield stands at a notable 16.89%.
• Since inception through October 2025, ARMOUR Residential REIT, Inc. has paid out $2.5 billion in dividends.

Institutional Investors: Funds holding a significant stake (over 40.58% in late 2025)

Institutions, which include mutual funds, ETFs, and other large asset managers, represent the largest block of control. Their presence signals a level of professional vetting, but it also means their trading activity can create significant near-term price volatility. As of September 30, 2025 filings, institutional holders commanded a substantial portion of the equity.

The ownership structure shows a clear reliance on these large players:

Shareholder Group (As of 9/30/25)	Percentage of Shares Outstanding	Total Shares Held
Institution	60.21%	67,374,226
Mutual Fund	15.43%	16,836,124
Insider	0.23%	261,851

The top three institutional holders as of September 29, 2025, were BlackRock Institutional Trust Company, N.A., The Vanguard Group, Inc., and State Street Investment Management (US), holding 14.63%, 10.69%, and 3.46% of the outstanding shares, respectively.

Preferred Stock Investors: Conservative investors seeking fixed-rate income (ARR.PR.C)

This segment is looking for predictability, which is why they opt for the Series C Cumulative Redeemable Preferred Stock, ticker ARR.PR.C. These investors prioritize the fixed payment over potential common stock appreciation. The fact that the call date was 1/28/2025 means the shares are now trading post-call, but they remain perpetual.

The income stream for ARR.PR.C is clearly defined:

• Stated coupon rate is 7.00% on the $25.00 liquidation preference.
• This equates to a fixed annual dividend of $1.75 per share.
• The confirmed monthly dividend payment was $0.14583 per share for October 2025.
• The current yield for this preferred class is reported at 8.24%.

Retail Investors: Individual stockholders seeking monthly cash flow

Retail investors are the individual shareholders who often value the monthly payout schedule for budgeting purposes. They are the counterpart to the large institutions, representing the remaining ownership not held by funds or insiders. Based on the latest ownership data, this group holds a significant, though minority, position.

We can infer the retail segment's size from the institutional data; for example, one report from May 22, 2025, suggested the general public owned a 48% stake, while another from late 2025 indicated Public Companies & Retail Investors held 41.71% of the common stock.

You should definitely track the common dividend consistency, as that is the primary driver for this segment.

ARMOUR Residential REIT, Inc. (ARR) - Canvas Business Model: Cost Structure

You're looking at the core expenses that drive down the profitability of ARMOUR Residential REIT, Inc. (ARR) as of its Q3 2025 filings. For a mortgage REIT, the cost of money and managing interest rate risk are the biggest drains on the bottom line, so you need to watch these line items closely.

The financing structure relies heavily on short-term borrowing, specifically repurchase agreements (repos). As of September 30, 2025, the net amount outstanding for these repurchase agreements was $16.6 billion. This massive funding base means even small changes in short-term rates hit the income statement hard.

Here is a breakdown of the key cost elements based on the Q3 2025 figures:

Cost Component	Financial Metric/Data Point	Amount/Rate (Q3 2025)
Interest Expense: Cost of Financing	Average Interest Cost on Average Interest Bearing Liabilities	4.63%
Interest Expense: Financing Leverage	Net Repurchase Agreements Outstanding	$16.6 billion
Hedging Costs: Derivatives Loss	Loss on Derivatives (GAAP)	$(49.3) million
Hedging Costs: Swap Notional	Interest Rate Swap Contracts Notional Amount	$10.4 billion
Management Fees: Waiver Amount	Contractual Management Fee Waived per Quarter	$1.65 million

The cost of financing is further illustrated by the economic metrics. The economic interest cost on average interest bearing liabilities was 3.17% for the quarter. This contrasts with the economic interest income of 5.00%, resulting in an economic net interest spread of 1.83%.

You should note the management fee structure. ARMOUR Capital Management LP, the external manager, actually waived a portion of its contractual fee for Q3 2025, amounting to $1.65 million for that quarter, the same amount waived in Q2 2025. This waiver directly reduced the operating expenses ARMOUR Residential REIT, Inc. had to bear.

For hedging, the losses on derivatives were significant in GAAP terms for the quarter, recorded as a $(49.3) million loss. This is the premium and loss side of managing the interest rate risk associated with the portfolio, which is heavily concentrated in Agency MBS.

The General and Administrative Expenses (G&A) are captured within the calculation for Distributable Earnings, which subtracts 'net operating expenses' from net interest income plus TBA Drop Income adjusted for swaps/futures. However, the specific dollar amount for G&A alone is not explicitly itemized in the provided summary data for Q3 2025.

• The GAAP Net Interest Income for Q3 2025 was $38.5 million.
• The total portfolio size supporting this cost structure was $18.2 billion.
• The debt-to-equity ratio, based on repurchase agreements to total stockholders' equity, stood at 7.78:1 as of September 30, 2025.

Finance: draft the full Q3 2025 GAAP Statement of Income breakdown for Interest Expense vs. Interest Income by Friday.

ARMOUR Residential REIT, Inc. (ARR) - Canvas Business Model: Revenue Streams

You're looking at how ARMOUR Residential REIT, Inc. (ARR) actually brings in the money to pay those attractive monthly dividends. For a mortgage REIT, the revenue streams are tightly linked to the interest rate environment and the value of the assets on the balance sheet, which are primarily Agency MBS (Mortgage-Backed Securities). Honestly, it's a game of managing the spread between what you earn and what you pay to finance those assets.

The core of the business is definitely Net Interest Income. This is the interest earned on the Agency MBS portfolio minus the financing costs, which are largely driven by repurchase agreements and interest rate swaps. For example, in the second quarter of 2025, ARMOUR Residential REIT, Inc. reported Net Interest Income of $33.1 million. By the third quarter of 2025, that number had improved to $38.5 million. To give you a bit more color on that, the economic net interest spread-that's the economic interest income minus the economic interest expense-was 1.82% in Q2 2025, moving slightly wider to 1.83% in Q3 2025.

Here's a quick look at how those key interest metrics shifted between the second and third quarters of 2025:

Metric	Q2 2025 Value	Q3 2025 Value
Net Interest Income	$33.1 million	$38.5 million
Distributable Earnings (Total)	$64.9 million	$75.3 million
Book Value Per Share (End of Period)	$16.90	$17.49
Total Economic Return (Quarterly)	(5.22)%	7.75%

Next up, you've got Mark-to-Market Gains, which are the unrealized changes in the value of the Agency MBS portfolio, often heavily influenced by derivatives like swaps. These gains or losses hit the GAAP net income line hard. For instance, Q3 2025 saw strong GAAP performance, with GAAP net income available to common stockholders hitting $156.3 million or $1.49 per share, largely driven by favorable market value adjustments on the Agency MBS. This was a big swing from Q2 2025, which recorded a GAAP net loss related to common stockholders of $(78.6) million or $(0.94) per share, primarily due to losses on derivative marks. One analyst noted that the Q3 revenue beat was helped by MBS gains of $177.1 million.

The measure you really want to watch for dividend sustainability is Distributable Earnings. This is the core income figure ARMOUR Residential REIT, Inc. uses to gauge its ability to cover the common dividends. In Q3 2025, Distributable Earnings available to common stockholders were $75.3 million, translating to $0.72 per common share. This was enough to cover the monthly common dividend of $0.24 per share for the quarter. In the prior quarter, Q2 2025, Distributable Earnings were $64.9 million, or $0.77 per share. Distributable earnings before preferred dividends in Q3 2025 were $78.3 million.

Finally, there's income derived from TBA Securities Income, which comes from To Be Announced forward contracts. These are commitments to buy or sell MBS in the future, and gains or losses on these contracts factor into the Distributable Earnings calculation. While we don't have a specific dollar amount for TBA income alone, we know the portfolio composition. As of the end of Q2 2025, TBA Securities made up 2.0% of the total portfolio, and that percentage decreased to 0.7% by the end of Q3 2025.

You can see the sources of income flow through these key components:

• Net Interest Income, which improved sequentially from Q2 to Q3 2025.
• Mark-to-Market adjustments, which can cause significant swings in GAAP results.
• TBA Securities activity, which is part of the overall derivative management.
• The resulting Distributable Earnings, which must cover the common dividend of $0.24 per share monthly.

Finance: draft 13-week cash view by Friday.