VERO BEACH, Fla. (AP) — VERO BEACH, Fla. (AP) — Armour Residential REIT Inc. (ARR) on Wednesday reported first-quarter profit of $27.3 million.

On a per-share basis, the Vero Beach, Florida-based company said it had net income of 32 cents. Earnings, adjusted for non-recurring costs, were 86 cents per share.

The real estate investment trust posted revenue of $172.9 million in the period. Its adjusted revenue was $36.3 million.

Armour Residential REIT shares have fallen 21% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $14.88, a fall of 22% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ARR at https://www.zacks.com/ap/ARR