Zacks Investment Research upgraded shares of Arbor Realty Trust (NYSE:ABR) from a hold rating to a buy rating in a report released on Friday morning. The firm 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 & Co. assumed coverage on Arbor Realty Trust in a research note on Thursday, December 21st. They set a neutral rating and a $8.50 price objective for the company.
Arbor Realty Trust (NYSE:ABR) last released its quarterly earnings data on Friday, February 23rd. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, topping the 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 analyst estimates of $17.50 million. During the same period in the prior year, the company posted $0.21 earnings per share. The business’s revenue for the quarter was up 62.8% compared to the same quarter last year. equities analysts anticipate that Arbor Realty Trust will post 0.9 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 21st. Shareholders of record on Thursday, March 8th will be paid a dividend of $0.21 per share. This is a positive change from Arbor Realty Trust’s previous quarterly dividend of $0.19. This represents a $0.84 annualized dividend and a yield of 9.49%. The ex-dividend date of this dividend is Wednesday, March 7th. Arbor Realty Trust’s dividend payout ratio is currently 73.68%.
A number of institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. raised its stake in Arbor Realty Trust by 20.3% during the fourth quarter. BlackRock Inc. now owns 5,009,229 shares of the real estate investment trust’s stock worth $43,280,000 after acquiring an additional 844,431 shares in the last quarter. Wasatch Advisors Inc. increased 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 valued at $21,777,000 after buying an additional 94,699 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Arbor Realty Trust by 15.2% in the second quarter. Vanguard Group Inc. now owns 2,054,446 shares of the real estate investment trust’s stock valued at $17,134,000 after buying an additional 271,595 shares in the last quarter. Millennium Management LLC increased its stake in shares of Arbor Realty Trust by 37.0% in the fourth quarter. Millennium Management LLC now owns 1,645,564 shares of the real estate investment trust’s stock valued at $14,218,000 after buying an additional 444,617 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of Arbor Realty Trust by 146.9% in the fourth quarter. Renaissance Technologies LLC now owns 1,095,400 shares of the real estate investment trust’s stock valued at $9,464,000 after buying an additional 651,704 shares in the last quarter. Hedge funds and other institutional investors own 49.57% of the company’s stock.
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Arbor Realty Trust Company Profile
Arbor Realty Trust, Inc is a real estate investment trust. The Company invests in a portfolio of structured finance assets in the multifamily and commercial real estate markets, primarily consisting of bridge and mezzanine loans, including junior participating interests in first mortgages, preferred and direct equity.
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