Zacks Investment Research upgraded shares of Arbor Realty Trust (NYSE:ABR) from a hold rating to a buy rating in a research report sent to investors on Friday. Zacks Investment Research currently has $9.75 price target 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. began coverage on Arbor Realty Trust in a research note on Thursday, December 21st. They issued a neutral rating and a $8.50 target price for the company.
Arbor Realty Trust (NYSE:ABR) last announced its earnings results on Friday, February 23rd. The real estate investment trust reported $0.25 earnings per share for the quarter, beating the Zacks’ 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 company had revenue of $19.67 million during the quarter, compared to analyst estimates of $17.50 million. During the same period last year, the company posted $0.21 earnings per share. The firm’s quarterly revenue was up 62.8% compared to the same quarter last year. sell-side analysts predict that Arbor Realty Trust will post 0.9 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 21st. Stockholders of record on Thursday, March 8th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Wednesday, March 7th. This is a positive change from Arbor Realty Trust’s previous quarterly dividend of $0.19. This represents a $0.84 dividend on an annualized basis and a dividend yield of 9.49%. Arbor Realty Trust’s dividend payout ratio (DPR) is 73.68%.
Institutional investors have recently bought and sold shares of the stock. Orinda Asset Management LLC boosted its holdings 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 valued at $5,428,000 after acquiring an additional 17,800 shares during the last quarter. Mackenzie Financial Corp boosted its holdings in 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 valued at $1,558,000 after acquiring an additional 66,160 shares during the last quarter. Wasatch Advisors Inc. boosted its holdings in 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 acquiring an additional 94,699 shares during the last quarter. Chartwell Investment Partners LLC boosted its holdings in 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 valued at $2,004,000 after acquiring an additional 52,593 shares during the last quarter. Finally, Parametric Portfolio Associates LLC bought a new position in Arbor Realty Trust in the second quarter valued at about $510,000. Institutional investors and hedge funds 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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