Armour Residential REIT, Inc. (ARR) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

Medium Risk
Moderate dilution risk
Last updated: April 22, 2026

Risk Assessment Details

Potential Dilution: 0.0% of current shares
Recent Dilution: 104.01% (2 years)
Historical Dilution Factor: significant recent dilution
Outstanding Shares
120M
Potential Supply
0
Additional shares possible
Splits
None
Past 2 years

Summary

ARR currently has 120M outstanding shares. with minimal authorized share overhang for future dilution. The company has significantly diluted shareholders by 104.01% over the past 2 years, indicating aggressive capital raising.

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
Apr 22, 2026

10-Q filing | 119.6M shares outstanding

120M 0
Oct 22, 2025

10-Q filing | 104.6M shares outstanding

100M 0
Aug 07, 2025

8-K filing: ARMOUR Residential REIT, Inc. completed the sale of 18,500,000 shares of common stock at $16.35 per share, generating gross proceeds of approximately $302,475,000, which will be used to acquire additional mortgage-backed securities and other mortgage-related assets. ($302.48M proceeds)

84M 0
Jul 28, 2025

8-K filing: ARMOUR Residential REIT, Inc. increased the number of shares of common stock that may be offered and sold under its Equity Sales Agreement by 9,500,000 shares, potentially issuing up to 17,732,711 shares of common stock through its agents.

84M 0
Jul 23, 2025

10-Q filing | 83.8M shares outstanding

84M 0
Apr 23, 2025

10-Q filing | 75.4M shares outstanding

75M 0
Feb 13, 2025

8-K filing: ARMOUR Residential REIT, Inc. increased the number of shares of common stock that may be offered and sold under the Company's Equity Sales Agreement by 15,000,000 shares.

76M 0
Feb 12, 2025

10-K filing | 76.4M shares outstanding

76M 0
Oct 23, 2024

10-Q filing | 51.8M shares outstanding

52M 0
Sep 20, 2024

8-K filing: ARMOUR Residential REIT, Inc. entered into Amendment No. 4 to its Equity Sales Agreement, adding Janney Montgomery Scott LLC as a sales agent and increasing the number of shares of common stock that may be offered and sold under the Sales Agreement by 25,000,000 shares for a total of 30,366,246 shares.

49M 0
Aug 23, 2024

8-K filing: ARMOUR Residential REIT, Inc. entered into Amendment No. 3 to its Equity Sales Agreement, increasing the number of common shares that may be offered and sold by 25,000,000, and also submitted Articles of Amendment to increase the number of authorized shares of common stock from 90,000,000 shares to 125,000,000 shares.

49M 0
Jul 24, 2024

10-Q filing | 48.8M shares outstanding

49M 0
Jun 21, 2024

8-K filing: ARMOUR Residential REIT, Inc. entered into Amendment No. 2 to its Common Stock Sales Agreement, adding BTIG, LLC as a sales agent for its 'at the market offering' program, where it may issue and sell up to 11,671,257 shares of common stock. The company also entered into Amendment No. 1 to its Preferred Stock Sales Agreement, adding BTIG to the sales agreement for its Series C Preferred Stock equity sales program.

49M 0
Apr 25, 2024

10-Q filing | 48.8M shares outstanding

49M 0
Mar 15, 2024

10-K filing | 48.7M shares outstanding

49M 0
Oct 25, 2023

10-Q filing | 46.5M shares outstanding

47M 0
Oct 02, 2023
Stock Split

8-K filing: ARMOUR Residential REIT, Inc. completed a 1-for-5 reverse stock split effective September 29, 2023, and has ongoing at-the-market offerings and dividend reinvestment and stock purchase plans.

46M 0
Sep 29, 2023
Stock Split

8-K filing: Stock split 1-for-5 | Outstanding: 228,309,234 → 45,661,846

46M 0
Jul 26, 2023

10-Q filing | 228.3M shares outstanding

230M 0
Apr 26, 2023

10-Q filing | 184.6M shares outstanding

180M 0
Feb 15, 2023

10-K filing | 192.8M shares outstanding

190M 0
Jan 17, 2023

8-K filing: ARMOUR Residential REIT, Inc. entered into a Fourth Amended and Restated Equity Sales Agreement on January 17, 2023, to issue and sell up to 60,000,000 shares of common stock through designated agents.

120M 0
Nov 04, 2022

8-K filing: ARMOUR Residential REIT, Inc. entered into a Third Amended and Restated Equity Sales Agreement, allowing the company to issue and sell up to 44,078,107 shares of common stock through designated agents in an at-the-market offering.

120M 0
Oct 26, 2022

10-Q filing | 123.3M shares outstanding

120M 0
Jul 27, 2022

8-K filing: ARMOUR Residential REIT, Inc. increased its authorized shares of common stock from 200,000,000 shares to 300,000,000 shares and authorized a repurchase program of up to 2,000,000 shares of its Series C Cumulative Redeemable Preferred Stock.

96M 0
Jul 27, 2022

10-Q filing | 106.5M shares outstanding

110M 0
Jun 09, 2022

8-K filing: ARMOUR Residential REIT, Inc. entered into a Second Amended and Restated Equity Sales Agreement, allowing the company to issue and sell up to 36,298,608 shares of common stock through designated agents.

96M 0
Apr 27, 2022

10-Q filing | 96.2M shares outstanding

96M 0
Feb 16, 2022

10-K filing | 96.0M shares outstanding

96M 0
Nov 16, 2021

8-K filing: ARMOUR Residential REIT, Inc. entered into an amended and restated Equity Sales Agreement on November 12, 2021, allowing the Company to issue and sell up to 25,661,843 shares of its common stock through designated agents.

85M 0
Oct 27, 2021

10-Q filing | 84.9M shares outstanding

85M 0
Jul 22, 2021

10-Q filing | 76.1M shares outstanding

76M 0
May 17, 2021

8-K filing: ARMOUR Residential REIT, Inc. entered into an Equity Sales Agreement with BUCKLER Securities LLC, JMP Securities LLC, Ladenburg Thalmann & Co. Inc., and B. Riley Securities to issue and sell up to 17,000,000 shares of the Company's common stock through an at-the-market offering.

67M 0
Apr 21, 2021

10-Q filing | 67.0M shares outstanding

67M 0
Mar 18, 2021

8-K filing: ARMOUR Residential REIT, Inc. has sold 2,312,445 shares of its Common Stock under the 2012 Dividend Reinvestment and Stock Purchase Plan as of the date of this Current Report on Form 8-K and continues to offer unsold shares under the 2012 and 2013 plans.

63M 0
Mar 08, 2021

8-K filing: ARMOUR Residential REIT, Inc. reports sales of 6,603,701 shares of common stock and 2,513,071 shares of Series C Preferred Stock under existing ATM offering programs as of the date of this report.

63M 0
Feb 17, 2021

10-K filing | 63.1M shares outstanding

63M 0
Oct 21, 2020

10-Q filing | 64.7M shares outstanding

65M 0
Jul 22, 2020

10-Q filing | 63.7M shares outstanding

64M 0
May 06, 2020

8-K filing: ARMOUR Residential REIT, Inc. entered into Amendment No. 2 to the Equity Sales Agreement, increasing the number of shares available for sale up to 17,000,000 shares of the Company's common stock through designated Agents, and as of the date hereof, the Company has sold 5,704,331 shares of common stock under the Sales Agreement.

59M 0
May 01, 2020

10-Q filing | 58.9M shares outstanding

59M 0
Apr 06, 2020

8-K filing: ARMOUR Residential REIT, Inc. entered into Amendment No. 1 to the Equity Sales Agreement, adding B. Riley as a sales agent, allowing the company to issue and sell up to 7,000,000 shares of its common stock through designated agents under an at-the-market offering program.

44M 0
Feb 19, 2020

10-K filing | 43.7M shares outstanding

44M 0
Jan 31, 2020

8-K filing: ARMOUR Residential REIT, Inc. entered into an Equity Sales Agreement with B. Riley FBR, Inc. and BUCKLER Securities LLC to offer and sell up to 6,550,000 shares of the Company's 7.00% Series C Cumulative Redeemable Preferred Stock through an at-the-market offering.

N/A 0
Jan 28, 2020

8-K filing: ARMOUR Residential REIT, Inc. completed the sale of 3,450,000 shares of its new 7.00% Series C Cumulative Redeemable Preferred Stock at $25.00 per share, for total gross proceeds of approximately $86,250,000, and filed Articles Supplementary to designate 10,000,000 shares of preferred stock as Series C Preferred Stock. ($86.25M proceeds)

N/A 0
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