ARMOUR Residential REIT (NYSE: ARR) details $21B MBS portfolio, leverage and dividend

Rhea-AI Filing Summary

ARMOUR Residential REIT, Inc. furnished an investor presentation providing a detailed April 2026 monthly update on its mortgage-backed securities portfolio, funding and hedging profile, and dividend metrics.

The total portfolio had a market value of $21.1 billion as of March 31, 2026, with 92.5% in agency mortgage-backed securities and agency CMBS and 4.7% in U.S. Treasury long positions. Thirty-year fixed-rate conventional pools made up most of the agency holdings, with meaningful allocations across 5.0%–6.0% coupon buckets.

The presentation shows a common stock price of $16.68, debt‑to‑equity of 7.9x, implied leverage of 8.2x, and liquidity of $1.12 billion, representing 48% of total capital. Q1 2026 market capitalization is listed at $2.06 billion. The May 2026 common dividend is $0.24 per share, with a stated current dividend yield of 17.3%.

ARMOUR’s repurchase agreement funding totaled $18.5 billion, with $8.0 billion from affiliated BUCKLER Securities LLC and the remainder from other counterparties. The company also disclosed $12.9 billion notional of interest rate swaps with a weighted average remaining term of 50 months and a weighted average fixed rate of 2.52% to help manage interest rate risk. Forward‑looking statement and risk disclaimers emphasize that the data is unaudited, based on estimates, and subject to market and model uncertainties.

8-K Event Classification

2 items: 7.01, 9.01

2 items

Item 7.01 Regulation FD Disclosure Disclosure

Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Key Figures

Total Portfolio Market Value: $21,072 million Agency Portfolio Share: 92.5% Common Stock Price: $16.68 +5 more

8 metrics

Total Portfolio Market Value $21,072 million Market value of investment portfolio as of March 31, 2026

Agency Portfolio Share 92.5% Percentage of portfolio in agency mortgage securities and CMBS

Common Stock Price $16.68 Common stock price listed in ARMOUR Key Data

Debt-Equity Ratio 7.9 Debt‑equity per footnote: total repo divided by shareholders’ equity

Liquidity $1,119.2 million Cash plus unencumbered agency and U.S. government securities; 48% of total capital

May 2026 Common Dividend $0.24 per share Scheduled May 2026 common dividend with 17.3% current yield

Total Repo Borrowings $18,464 million Principal borrowed via repurchase agreements across all counterparties

Interest Rate Swaps Notional $12,899 million Total notional of interest rate swaps; 50‑month weighted average remaining term at 2.52% rate

Key Terms

mortgage-backed securities, repurchase financing, effective duration, implied leverage, +2 more

6 terms

mortgage-backed securities financial

"portfolio of mortgage-backed securities issued or guaranteed by U.S Government-sponsored entities"

A mortgage-backed security is an investment made by pooling many home loans and selling the right to the borrowers’ monthly payments to investors, so you receive a stream of principal and interest much like collecting payments on a bundle of IOUs. It matters to investors because it provides regular income but carries risks from homeowners missing payments or paying off loans early, and its value moves with interest rates and housing market conditions.

repurchase financing financial

"access to equity capital and repurchase financing at potentially attractive rates and terms"

effective duration financial

"ARMOUR Portfolio Composition | % of Portfolio | Market Value (in $ millions) | Effective Duration"

A bond's effective duration measures how much its price is likely to change when market interest rates move a small amount, taking into account the bond's actual expected cash flows and any features like call or put options. Investors use it like a car's suspension rating: the higher the number, the more sensitive the bond (or a bond portfolio) is to rate swings, so it helps gauge interest-rate risk and set appropriate hedges or allocation sizes.

implied leverage financial

"Implied Leverage (2) | 8.2"

interest rate swaps financial

"ARMOUR Interest Rate Swaps Maturity (months) | Notional Amount (in $ millions)"

A contract between two parties to exchange streams of interest payments, typically swapping a fixed-rate payment for a floating-rate payment or vice versa. Think of it like two neighbors agreeing to trade the type of mortgage payments they make to reduce uncertainty or take advantage of expected rate moves; investors care because swaps change a company’s borrowing costs and risk exposure, which can materially affect cash flow, creditworthiness, and valuation.

forward-looking statements regulatory

"Certain statements made in this presentation ... constitute “forward-looking statements”"

Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

Understanding 8-K Material Events →

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

_____________

FORM 8-K

______________

CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported) April 22, 2026

ARMOUR Residential REIT, Inc.

(Exact Name of Registrant as Specified in Its Charter)

Maryland			001-34766			26-1908763
(State or Other Jurisdiction of Incorporation)			(Commission File Number)			(I.R.S. Employer Identification No.)

3001 Ocean Drive, Suite 201
Vero Beach,			Florida						32963
(Address of Principal Executive Offices)									(Zip Code)

(772) 617-4340

(Registrant’s Telephone Number, Including Area Code)

n/a

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class

Trading symbols

Name of Exchange on which registered

Preferred Stock, 7.00% Series C Cumulative Redeemable

ARR-PRC

New York Stock Exchange

Common Stock, $0.001 par value

ARR

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).        

Emerging growth company ☐

If an emerging growth company, indicate by a check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act ☐

Item 7.01.    Regulation FD Disclosure.

On April 22, 2026, ARMOUR Residential REIT, Inc. (“ARMOUR”) produced for distribution a presentation, which contains updates on ARMOUR's financial position, business and operations. Attached as Exhibit 99.1 to this report is the presentation produced by ARMOUR.

The presentation attached to this report as Exhibit 99.1 is furnished pursuant to this Item 7.01 and shall not be deemed filed in this or any other filing of ARMOUR under the Securities Exchange Act of 1934, as amended, unless expressly incorporated by specific reference in any such filing.

Item 9.01.    Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.			Description
99.1			Presentation dated April 22, 2026
104			Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: April 22, 2026

ARMOUR RESIDENTIAL REIT, INC.

By: /s/ Gordon M. Harper

Name: Gordon M. Harper

Title: Chief Financial Officer

Portfolio Data as of 03/31/26, except CPR which is as of 04/06/26. 1

ARMOUR Residential REIT, Inc.

Monthly Update April 2026

ARMOUR Residential REIT, Inc. (“ARMOUR”; NYSE: ARR) brings private capital into the mortgage markets to support home

ownership for a broad and diverse spectrum of homeowners. We seek to create shareholder value through thoughtful investment

and risk management of a leveraged and diversified portfolio of mortgage-backed securities issued or guaranteed by U.S

Government-sponsored entities. We rely on the decades of experience of our management team for (i) MBS securities portfolio

analysis and selection, (ii) access to equity capital and repurchase financing at potentially attractive rates and terms, and (iii)

hedging and liquidity strategies to moderate interest rate and MBS price risk. We prioritize maintaining common share dividends

appropriate for the intermediate term rather than focusing on short-term market fluctuations.

ARMOUR is externally managed by ARMOUR Capital Management LP, an SEC registered investment advisor, which is under

common control with BUCKLER Securities LLC, an SEC registered broker-dealer and a member of FICC and FINRA. BUCKLER

Securities, LLC, is the largest provider of repurchase financing to ARMOUR.

ARMOUR Portfolio Composition	% of Portfolio	Market Value (in $ millions)	Effective Duration
Agency CMBS	6.2 %	1,301	5.07
30 Year Fixed Rate Pools	86.4 %	18,196	4.05
Conventionals	84.0 %	17,710	4.07
30y 2.0s	1.2 %	258	7.53
30y 2.5s	1.1 %	231	7.78
30y 3.0s	3.2 %	680	7.34
30y 3.5s	5.2 %	1,092	6.57
30y 4.0s	4.7 %	988	5.84
30y 4.5s	7.3 %	1,539	5.51
30y 5.0s	16.8 %	3,550	4.57
30y 5.5s	24.2 %	5,094	3.24
30y 6.0s	18.0 %	3,801	2.23
30y 6.5s	2.3 %	477	1.34
Ginnie Mae	2.3 %	486	3.49
30y 5.0s	0.5 %	99	4.19
30y 5.5s	1.8 %	388	3.31
Agency Portfolio	92.5 %	19,498
FN 15y 4.5s TBAs	0.9 %	198	3.51
G2 30y 4.5 TBAs	1.8 %	386	5.81
Net TBA Positions	2.8 %	584
5Y US Treasury Longs	4.7 %	990	4.24
US Treasury Long Positions	4.7 %	990
Total Portfolio	100.0 %	21,072

ARMOUR Key Data
Common Stock Price ($)	16.68
Debt-Equity (1)	7.9
Implied Leverage (2)	8.2
Liquidity (3) (in millions)	1,119.2
Liquidity as Percentage of Total Capital	48 %
Q1 2026 Market Cap (in millions)	2,062.1
Dividend Information
May 2026 Common Dividend	0.24
Common Ex-Dividend Date/Record Date	5/15/2026
Pay Date	5/28/2026
Current Dividend Yield	17.3 %

ARMOUR Portfolio CPR

Portfolio Data as of 03/31/26, except CPR which is as of 04/06/26. 2

Monthly Update April 2026

ARMOUR Repo Composition	Principal Borrowed (in $ millions)	% of Repo Positions with ARMOUR	Weighted Average Original Term (days)	Weighted Average Remaining Term (days)	Longest Maturity (days)
BUCKLER Securities LLC (4)	8,021	43.4 %	60	20	48
All Other Counterparties	10,443	56.6 %	63	22	114
Total (5)	18,464	100.0 %	61	21

ARMOUR Interest Rate Swaps Maturity (months)	Notional Amount (in $ millions)	Weighted Average Remaining Term (months)	Weighted Average Rate
0-12	579	9	0.26
13-24	2,550	17	3.08
25-36	3,393	28	3.49
37-48	604	43	0.49
49-60	2,448	56	0.84
61-72	600	68	1.32
73-84	750	79	2.66
85-96	75	84	3.72
97-108	600	103	3.71
109-120	1,000	114	3.77
>120	300	175	4.04
Total	12,899	50	2.52

ARMOUR Hedge Type Notional (millions) (6)

Certain statements made in this presentation regarding ARMOUR Residential REIT, Inc. (“ARMOUR” or the “Company”), and any other statements regarding ARMOUR’s future

expectations, beliefs, goals or prospects constitute “forward-looking statements” made within the meaning of the safe harbor provisions of the United States Private Securities Litigation

Reform Act of 1995. Any statements that are not statements of historical fact (including statements containing the words “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,”

“intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,”  and similar expressions) should also be considered forward-looking statements. Forward-

looking statements include but are not limited to statements regarding the projections and future plans for ARMOUR’s business, growth and operational improvements. Because forward-

looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of

ARMOUR’s control. A number of important factors could cause actual results or events to differ materially from those indicated by such forward-looking statements. Additional information

concerning these factors and risks are contained in the Company’s most recent annual and quarterly reports and other reports filed with the Securities and Exchange Commission.

ARMOUR assumes no obligation to update the information in this communication, except as otherwise required by law. Readers are cautioned not to place undue reliance on these

forward-looking statements, which speak only as of the date hereof.

This material is for information purposes only and does not constitute an offer to sell, a solicitation of an offer to buy, or a recommendation for any securities or financial instruments. The

statements, information and estimates contained herein are based on information that the Company believes to be reliable as of today's date unless otherwise indicated. ARMOUR cannot

guarantee future results, levels of activity, performance or achievements.

Pricing and duration information are estimates provided by independent third-party providers based on models that require inputs and assumptions. Actual realized prices and durations

will depend on a number of factors that cannot be predicted with certainty and may be materially different from estimates.

AMOUNTS MAY NOT FOOT DUE TO ROUNDING.

Estimates do not reflect any costs of operation of ARMOUR. THE INFORMATION PRESENTED HEREIN IS UNAUDITED AND NOT REVIEWED BY OUR INDEPENDENT PUBLIC

ACCOUNTANTS.

Footnotes

1.Total Repo divided by Shareholders’ Equity.

2.Implied Leverage is Total Repo plus TBA market value net of forward settling trades divided by Shareholders’ Equity.

3.Liquidity is cash plus unencumbered Agency and US Government securities. Excludes any forward settling trades.

4.BUCKLER Securities LLC is an SEC registered broker-dealer and a member of FICC and FINRA that is affiliated with ARMOUR.

5.Repo composition includes funding for US Treasury longs and margin collateral posted to ARMOUR.

6.ARMOUR’s Treasury Futures have a weighted average duration of 11.8 years.

FAQ

What does ARMOUR Residential REIT (ARR) disclose in its April 2026 update?

ARMOUR provides an unaudited snapshot of its MBS-focused portfolio, leverage, liquidity, and hedging. The update highlights a $21.1 billion portfolio, agency concentration, repo funding sources, interest rate swaps, and current dividend metrics, helping investors understand its risk profile and capital structure.

How large is ARMOUR Residential REIT’s (ARR) investment portfolio as of March 31, 2026?

The portfolio’s market value is reported at $21.072 billion as of March 31, 2026. It is primarily composed of agency mortgage-backed securities and agency CMBS, with a smaller allocation to U.S. Treasury long positions and net TBA exposures, reflecting a highly rate-sensitive investment profile.

What leverage and liquidity levels does ARMOUR Residential REIT (ARR) report?

ARMOUR reports a debt‑to‑equity ratio of 7.9 and implied leverage of 8.2. Liquidity totals $1,119.2 million, equal to 48% of total capital. Liquidity consists of cash and unencumbered agency and U.S. government securities, excluding forward-settling trades, supporting funding and margin needs.

What dividend information does ARMOUR Residential REIT (ARR) provide for May 2026?

ARMOUR lists a May 2026 common dividend of $0.24 per share. The related ex-dividend and record date is May 15, 2026, with payment on May 28, 2026. Based on the stated stock price, the presentation shows a current dividend yield of 17.3% for common shareholders.

How is ARMOUR Residential REIT’s (ARR) repo funding structured in the April 2026 update?

Total repo borrowing is reported at $18.464 billion, with $8.021 billion from affiliated BUCKLER Securities LLC and $10.443 billion from other counterparties. The weighted average original term is 61 days, and the weighted average remaining term is 21 days, indicating short-term, regularly rolling funding.

What interest rate swap exposure does ARMOUR Residential REIT (ARR) disclose?

ARMOUR reports $12.899 billion notional of interest rate swaps with a weighted average remaining term of 50 months. The weighted average fixed rate on these swaps is 2.52%. The swap maturities are laddered across multiple buckets to help manage interest rate and duration risk on its MBS portfolio.

Filing Exhibits & Attachments

5 documents

Press Releases

• EX-99.1 EX-99.1 135.2 KB

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA DOCUMENT 3.5 KB
• EX-101 XBRL TAXONOMY EXTENSION DEFINITION LINKBASE DOCUMENT 15.2 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE DOCUMENT 27.0 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE DOCUMENT 15.8 KB