ARBOR RLTY TR I/SH (NYSE:ABR)’s share price gapped up before the market opened on Friday . The stock had previously closed at $9.20, but opened at $9.58. ARBOR RLTY TR I/SH shares last traded at $10.19, with a volume of 2,951,424 shares.
Several analysts recently commented on the company. JPMorgan Chase & Co. raised ARBOR RLTY TR I/SH from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $9.00 to $9.50 in a report on Tuesday, July 28th. JMP Securities dropped their target price on ARBOR RLTY TR I/SH from $15.50 to $10.00 and set a “market outperform” rating on the stock in a report on Tuesday, April 14th. ValuEngine upgraded ARBOR RLTY TR I/SH from a “strong sell” rating to a “sell” rating in a research report on Thursday, July 2nd. Zacks Investment Research downgraded ARBOR RLTY TR I/SH from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 14th. Finally, TheStreet downgraded ARBOR RLTY TR I/SH from a “c” rating to a “d” rating in a research report on Friday, May 22nd. Two research analysts have rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $11.25.
The company has a market cap of $1.12 billion, a PE ratio of 6.98 and a beta of 1.79. The business has a 50-day simple moving average of $9.02 and a 200-day simple moving average of $9.64. The company has a quick ratio of 18.74, a current ratio of 18.74 and a debt-to-equity ratio of 2.92.
ARBOR RLTY TR I/SH (NYSE:ABR) last issued its quarterly earnings results on Friday, May 8th. The real estate investment trust reported ($0.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.84). The business had revenue of $88.53 million for the quarter, compared to analysts’ expectations of $78.70 million. ARBOR RLTY TR I/SH had a return on equity of 3.58% and a net margin of 12.37%. On average, research analysts forecast that ARBOR RLTY TR I/SH will post 1.07 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a dividend of $0.30 per share. The ex-dividend date was Monday, June 29th. This represents a $1.20 dividend on an annualized basis and a yield of 11.78%. ARBOR RLTY TR I/SH’s payout ratio is 88.24%.
In related news, Director Melvin F. Lazar acquired 5,000 shares of ARBOR RLTY TR I/SH stock in a transaction that occurred on Wednesday, May 13th. The shares were purchased at an average price of $6.00 per share, for a total transaction of $30,000.00. Following the completion of the transaction, the director now owns 225,000 shares in the company, valued at approximately $1,350,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 7.40% of the company’s stock.
A number of institutional investors have recently made changes to their positions in ABR. Wasatch Advisors Inc. lifted its position in ARBOR RLTY TR I/SH by 14.6% during the first quarter. Wasatch Advisors Inc. now owns 3,089,006 shares of the real estate investment trust’s stock worth $15,136,000 after buying an additional 393,061 shares in the last quarter. Advisor Group Holdings Inc. acquired a new stake in ARBOR RLTY TR I/SH during the first quarter worth $1,739,000. Wellington Management Group LLP increased its stake in ARBOR RLTY TR I/SH by 16.4% during the first quarter. Wellington Management Group LLP now owns 1,601,466 shares of the real estate investment trust’s stock worth $7,847,000 after acquiring an additional 226,200 shares during the last quarter. Alyeska Investment Group L.P. acquired a new stake in ARBOR RLTY TR I/SH during the first quarter worth $858,000. Finally, BlackRock Inc. increased its stake in ARBOR RLTY TR I/SH by 7.5% during the first quarter. BlackRock Inc. now owns 2,051,260 shares of the real estate investment trust’s stock worth $10,051,000 after acquiring an additional 143,158 shares during the last quarter. Hedge funds and other institutional investors own 34.31% of the company’s stock.
About ARBOR RLTY TR I/SH (NYSE:ABR)
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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