Arbor Realty Trust, Inc. (NYSE:ABR – Get Rating)’s share price fell 5.6% during trading on Tuesday after JMP Securities lowered their price target on the stock from $21.00 to $20.00. JMP Securities currently has a market outperform rating on the stock. Arbor Realty Trust traded as low as $15.55 and last traded at $15.62. 30,701 shares were traded during trading, a decline of 98% from the average session volume of 1,765,620 shares. The stock had previously closed at $16.55.
Separately, Piper Sandler decreased their target price on shares of Arbor Realty Trust from $20.00 to $17.00 and set an “overweight” rating for the company in a report on Tuesday, June 28th.
Insiders Place Their Bets
In other news, Director Melvin F. Lazar bought 2,500 shares of the firm’s stock in a transaction on Thursday, May 12th. The stock was bought at an average cost of $16.39 per share, for a total transaction of $40,975.00. Following the completion of the acquisition, the director now directly owns 227,500 shares in the company, valued at approximately $3,728,725. The purchase was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 3.80% of the company’s stock.
Hedge Funds Weigh In On Arbor Realty Trust
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Catalyst Capital Advisors LLC raised its position in Arbor Realty Trust by 21.3% during the fourth quarter. Catalyst Capital Advisors LLC now owns 3,810 shares of the real estate investment trust’s stock valued at $70,000 after acquiring an additional 670 shares in the last quarter. CWM LLC raised its position in Arbor Realty Trust by 30.5% during the first quarter. CWM LLC now owns 2,935 shares of the real estate investment trust’s stock valued at $50,000 after acquiring an additional 686 shares in the last quarter. Strs Ohio raised its position in shares of Arbor Realty Trust by 2.1% in the first quarter. Strs Ohio now owns 34,200 shares of the real estate investment trust’s stock valued at $583,000 after purchasing an additional 700 shares during the period. HighTower Advisors LLC raised its position in shares of Arbor Realty Trust by 3.4% in the fourth quarter. HighTower Advisors LLC now owns 25,449 shares of the real estate investment trust’s stock valued at $463,000 after purchasing an additional 830 shares during the period. Finally, Chartwell Investment Partners LLC raised its position in shares of Arbor Realty Trust by 1.2% in the second quarter. Chartwell Investment Partners LLC now owns 74,043 shares of the real estate investment trust’s stock valued at $971,000 after purchasing an additional 895 shares during the period. Institutional investors own 37.93% of the company’s stock.
Arbor Realty Trust Stock Performance
The company has a market cap of $2.49 billion, a P/E ratio of 8.15 and a beta of 1.82. The company has a quick ratio of 41.41, a current ratio of 41.40 and a debt-to-equity ratio of 3.99. The stock’s 50-day moving average price is $14.65 and its 200 day moving average price is $16.33.
Arbor Realty Trust (NYSE:ABR – Get Rating) last released its quarterly earnings results on Friday, May 6th. The real estate investment trust reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.15. The company had revenue of $84.14 million for the quarter, compared to analyst estimates of $83.84 million. Arbor Realty Trust had a net margin of 54.35% and a return on equity of 18.09%. The company’s quarterly revenue was up 71.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.50 earnings per share. As a group, research analysts expect that Arbor Realty Trust, Inc. will post 1.8 EPS for the current fiscal year.
Arbor Realty Trust Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 31st. Stockholders of record on Monday, August 15th will be paid a $0.39 dividend. This is an increase from Arbor Realty Trust’s previous quarterly dividend of $0.38. The ex-dividend date is Friday, August 12th. This represents a $1.56 annualized dividend and a dividend yield of 10.03%. Arbor Realty Trust’s dividend payout ratio (DPR) is presently 74.88%.
About Arbor Realty Trust
Arbor Realty Trust, Inc invests in a diversified portfolio of structured finance assets in the multifamily, single-family rental, and commercial real estate markets in the United States. The company operates in two segments, Structured Business and Agency Business. It primarily invests in bridge and mezzanine loans, including junior participating interests in first mortgages, and preferred and direct equity, as well as real estate-related joint ventures, real estate-related notes, and various mortgage-related securities.
