ARBOR RLTY TR I/SH (NYSE:ABR) Upgraded to “Hold” by Zacks Investment Research
According to Zacks, “Arbor Realty Trust is a specialized real estate finance company investing in real estate-related bridge and mezzanine loans, preferred equity, mortgage-related securities and other real estate-related assets. “
A number of other equities analysts have also recently weighed in on the stock. ValuEngine cut shares of ARBOR RLTY TR I/SH from a hold rating to a sell rating in a research note on Tuesday, March 17th. JPMorgan Chase & Co. raised shares of ARBOR RLTY TR I/SH from an underweight rating to a neutral rating and upped their price target for the stock from $13.00 to $14.50 in a research note on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $14.30.
ARBOR RLTY TR I/SH (NYSE:ABR) last posted its quarterly earnings results on Friday, February 14th. The real estate investment trust reported $0.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.05. ARBOR RLTY TR I/SH had a net margin of 42.44% and a return on equity of 12.03%. The business had revenue of $81.98 million for the quarter, compared to analysts’ expectations of $80.20 million. During the same period in the prior year, the company posted $0.29 EPS. As a group, equities analysts forecast that ARBOR RLTY TR I/SH will post 1.2 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 17th. Investors of record on Friday, February 28th were paid a $0.30 dividend. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $1.20 dividend on an annualized basis and a yield of 23.76%. ARBOR RLTY TR I/SH’s payout ratio is 88.24%.
In other news, EVP Der Reis Dennis Van purchased 10,000 shares of the firm’s stock in a transaction on Friday, March 13th. The shares were bought at an average cost of $8.61 per share, with a total value of $86,100.00. Following the purchase, the executive vice president now directly owns 121,952 shares of the company’s stock, valued at $1,050,006.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Paul Elenio purchased 5,000 shares of the firm’s stock in a transaction on Monday, March 16th. The shares were purchased at an average cost of $7.72 per share, for a total transaction of $38,600.00. Following the completion of the purchase, the chief financial officer now directly owns 400,161 shares in the company, valued at $3,089,242.92. The disclosure for this purchase can be found here. Insiders have acquired a total of 20,000 shares of company stock worth $193,200 over the last ninety days. 10.50% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in the business. First Trust Advisors LP lifted its holdings in shares of ARBOR RLTY TR I/SH by 1.6% during the 1st quarter. First Trust Advisors LP now owns 129,635 shares of the real estate investment trust’s stock worth $1,681,000 after acquiring an additional 2,057 shares during the period. Voya Financial Advisors Inc. raised its holdings in ARBOR RLTY TR I/SH by 23.0% in the third quarter. Voya Financial Advisors Inc. now owns 23,884 shares of the real estate investment trust’s stock valued at $311,000 after buying an additional 4,464 shares during the period. Voloridge Investment Management LLC raised its holdings in ARBOR RLTY TR I/SH by 47.2% in the third quarter. Voloridge Investment Management LLC now owns 292,396 shares of the real estate investment trust’s stock valued at $3,833,000 after buying an additional 93,742 shares during the period. Quad Capital Management Advisors LLC purchased a new position in ARBOR RLTY TR I/SH in the fourth quarter valued at approximately $198,000. Finally, FNY Investment Advisers LLC purchased a new position in ARBOR RLTY TR I/SH in the fourth quarter valued at approximately $297,000. 41.26% of the stock is currently owned by institutional investors.
About ARBOR RLTY TR I/SH
Arbor Realty Trust, Inc invests in a diversified portfolio of structured finance assets in the multifamily and commercial real estate markets. The company operates in two segments, Structured Business and Agency Business. It primarily invests in real estate-related bridge and mezzanine loans, including junior participating interests in first mortgages, and preferred and direct equity, as well as real estate-related notes and various mortgage-related securities.
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