Arbor Realty Trust (NYSE:ABR – Get Free Report) shot up 6.3% during mid-day trading on Monday . The company traded as high as $6.16 and last traded at $6.1550. 1,696,113 shares traded hands during mid-day trading, a decline of 58% from the average session volume of 4,004,890 shares. The stock had previously closed at $5.79.
Analysts Set New Price Targets
Several brokerages have recently commented on ABR. Citizens Jmp reduced their target price on Arbor Realty Trust from $9.50 to $8.50 and set a “market outperform” rating for the company in a report on Thursday. Wall Street Zen cut Arbor Realty Trust from a “hold” rating to a “sell” rating in a research note on Saturday, March 28th. Keefe, Bruyette & Woods cut their price objective on Arbor Realty Trust from $7.50 to $6.50 and set an “underperform” rating on the stock in a report on Tuesday, May 12th. Weiss Ratings lowered shares of Arbor Realty Trust from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, February 24th. Finally, Zacks Research upgraded shares of Arbor Realty Trust from a “strong sell” rating to a “hold” rating in a report on Monday, May 4th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, Arbor Realty Trust presently has an average rating of “Reduce” and a consensus target price of $8.00.
Read Our Latest Research Report on ABR
Arbor Realty Trust Trading Up 4.7%
Arbor Realty Trust (NYSE:ABR – Get Free Report) last posted its quarterly earnings results on Friday, May 8th. The real estate investment trust reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.09). Arbor Realty Trust had a net margin of 12.73% and a return on equity of 8.49%. The business had revenue of $119.67 million for the quarter, compared to analyst estimates of $109.86 million. As a group, research analysts anticipate that Arbor Realty Trust will post 0.77 earnings per share for the current fiscal year.
Arbor Realty Trust Cuts Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Friday, May 22nd will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, May 22nd. This represents a $0.68 dividend on an annualized basis and a yield of 11.2%. Arbor Realty Trust’s payout ratio is presently 307.69%.
Insiders Place Their Bets
In related news, insider David Erwin Friedman bought 8,840 shares of the business’s stock in a transaction on Monday, May 11th. The stock was bought at an average price of $6.84 per share, for a total transaction of $60,465.60. Following the transaction, the insider directly owned 68,478 shares in the company, valued at $468,389.52. This represents a 14.82% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 4.20% of the company’s stock.
Hedge Funds Weigh In On Arbor Realty Trust
A number of hedge funds have recently modified their holdings of the stock. Amalgamated Bank boosted its position in Arbor Realty Trust by 1.9% during the third quarter. Amalgamated Bank now owns 55,643 shares of the real estate investment trust’s stock valued at $679,000 after purchasing an additional 1,062 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its position in Arbor Realty Trust by 6.9% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 17,527 shares of the real estate investment trust’s stock worth $214,000 after purchasing an additional 1,130 shares during the last quarter. Smartleaf Asset Management LLC increased its position in Arbor Realty Trust by 73.5% in the 2nd quarter. Smartleaf Asset Management LLC now owns 2,774 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 1,175 shares during the last quarter. Geneos Wealth Management Inc. raised its stake in shares of Arbor Realty Trust by 33.4% during the 2nd quarter. Geneos Wealth Management Inc. now owns 5,092 shares of the real estate investment trust’s stock worth $54,000 after purchasing an additional 1,276 shares in the last quarter. Finally, Atlantic Union Bankshares Corp raised its stake in shares of Arbor Realty Trust by 52.2% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 3,805 shares of the real estate investment trust’s stock worth $46,000 after purchasing an additional 1,305 shares in the last quarter. 57.25% of the stock is owned by institutional investors and hedge funds.
About Arbor Realty Trust
Arbor Realty Trust, Inc (NYSE: ABR) is a real estate investment trust specializing in the origination, acquisition, financing, structuring and management of commercial real estate loans and securities. The company focuses primarily on multifamily and commercial mortgage lending, targeting properties such as apartment communities, senior housing and healthcare facilities. Through both agency and non-agency channels, Arbor Realty Trust seeks to deliver liquidity solutions to borrowers while generating stable, risk-adjusted returns for its shareholders.
Core business activities include originating first-mortgage loans secured by multifamily and mixed-use properties, as well as providing mezzanine financing and preferred equity investments.
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