Zacks Investment Research upgraded shares of Arbor Realty Trust (NYSE:ABR) from a hold rating to a buy rating in a report published on Friday, March 9th. Zacks Investment Research currently has $9.75 target price on the real estate investment trust’s stock.
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. “
Separately, JPMorgan Chase assumed coverage on Arbor Realty Trust in a research note on Thursday, December 21st. They set a neutral rating and a $8.50 target price on the stock.
NYSE:ABR traded down $0.12 during mid-day trading on Friday, reaching $8.70. The stock had a trading volume of 504,663 shares, compared to its average volume of 589,866. The company has a market capitalization of $544.40, a price-to-earnings ratio of 8.37 and a beta of 0.29. Arbor Realty Trust has a one year low of $7.83 and a one year high of $8.99. The company has a debt-to-equity ratio of 2.22, a current ratio of 8.93 and a quick ratio of 8.93.
Arbor Realty Trust (NYSE:ABR) last announced its quarterly earnings data on Friday, February 23rd. The real estate investment trust reported $0.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.05. Arbor Realty Trust had a return on equity of 11.33% and a net margin of 53.49%. The firm had revenue of $19.67 million during the quarter, compared to the consensus estimate of $17.50 million. During the same quarter in the previous year, the company posted $0.21 earnings per share. The business’s revenue was up 62.8% on a year-over-year basis. sell-side analysts anticipate that Arbor Realty Trust will post 0.9 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, March 21st. Investors of record on Thursday, March 8th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 9.66%. This is a boost from Arbor Realty Trust’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Wednesday, March 7th. Arbor Realty Trust’s dividend payout ratio is presently 80.77%.
Hedge funds have recently modified their holdings of the stock. Orinda Asset Management LLC grew its stake in Arbor Realty Trust by 2.9% in the fourth quarter. Orinda Asset Management LLC now owns 628,257 shares of the real estate investment trust’s stock worth $5,428,000 after purchasing an additional 17,800 shares during the period. Mackenzie Financial Corp grew its stake in shares of Arbor Realty Trust by 53.4% in the third quarter. Mackenzie Financial Corp now owns 190,000 shares of the real estate investment trust’s stock worth $1,558,000 after acquiring an additional 66,160 shares during the last quarter. Wasatch Advisors Inc. grew its stake in shares of Arbor Realty Trust by 3.9% in the fourth quarter. Wasatch Advisors Inc. now owns 2,520,441 shares of the real estate investment trust’s stock worth $21,777,000 after acquiring an additional 94,699 shares during the last quarter. Chartwell Investment Partners LLC grew its stake in shares of Arbor Realty Trust by 27.4% in the third quarter. Chartwell Investment Partners LLC now owns 244,504 shares of the real estate investment trust’s stock worth $2,004,000 after acquiring an additional 52,593 shares during the last quarter. Finally, Navellier & Associates Inc grew its stake in shares of Arbor Realty Trust by 14.8% in the fourth quarter. Navellier & Associates Inc now owns 57,652 shares of the real estate investment trust’s stock worth $498,000 after acquiring an additional 7,416 shares during the last quarter. 49.69% of the stock is currently owned by institutional investors.
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About Arbor Realty Trust
Arbor Realty Trust, Inc invests in a diversified portfolio of structured finance assets in the multifamily and commercial real estate markets. It operates in two segments, Structured Business and Agency Business. The company 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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