5 High Yield Dividend Stocks to Buy in August

2. ARMOUR Residential REIT, Inc. (NYSE: ARR)

Number of Hedge Fund Holders: 9
Dividend Yield: 11.6%

ARMOUR Residential REIT, Inc. (NYSE: ARR), a residential REIT founded in 2008, ranks 2nd on our list of high yield dividend stocks to buy in August. The company invests only in residential mortgage-backed securities issues by the US government’s sponsored entities.

This July, B. Riley’s analyst Matt Howlett began covering shares of ARMOUR Residential REIT, Inc. (NYSE: ARR) with a Neutral rating. The analyst also placed an $11.50 price target on the stock.

In the second quarter of 2021, ARMOUR Residential REIT, Inc. (NYSE: ARR) had an FFO of $0.21, missing estimates by $0.07. The company’s revenue was $16.7 million, beating the previous quarter’s revenue of $16.06 million. ARMOUR Residential REIT, Inc. (NYSE: ARR) has also gained 8.44% in the past year.

By the end of the first quarter of 2021, 9 hedge funds out of the 866 tracked by Insider Monkey held stakes in ARMOUR Residential REIT, Inc. (NYSE: ARR) worth roughly $22.2 million. This is compared to 13 hedge funds in the previous quarter with a total stake value of approximately $23.5 million.