Arbor Realty Trust (NYSE:ABR) Lifted to “Buy” at Zacks Investment Research

Arbor Realty Trust (NYSE:ABRGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Thursday, Zacks.com reports. The firm currently has a $19.00 price target on the real estate investment trust’s stock. Zacks Investment Research‘s target price suggests a potential upside of 17.72% from the company’s current price.

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. “

Several other brokerages also recently issued reports on ABR. Piper Sandler started coverage on shares of Arbor Realty Trust in a report on Monday, April 25th. They set an “overweight” rating and a $20.00 price target for the company. StockNews.com started coverage on shares of Arbor Realty Trust in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Arbor Realty Trust presently has a consensus rating of “Buy” and an average price target of $21.25.

Shares of NYSE:ABR traded down $0.66 during trading on Thursday, hitting $16.14. 168,613 shares of the company were exchanged, compared to its average volume of 2,264,997. The business’s 50 day moving average is $17.20 and its 200-day moving average is $17.74. The company has a market capitalization of $2.59 billion, a P/E ratio of 7.58 and a beta of 1.71. The company has a quick ratio of 41.41, a current ratio of 41.40 and a debt-to-equity ratio of 3.99. Arbor Realty Trust has a 1-year low of $16.11 and a 1-year high of $20.74.

Arbor Realty Trust (NYSE:ABRGet Rating) last announced its quarterly earnings results on Friday, May 6th. The real estate investment trust reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.15. The company had revenue of $84.14 million during the quarter, compared to the consensus estimate of $83.84 million. Arbor Realty Trust had a net margin of 62.97% and a return on equity of 17.19%. The company’s revenue for the quarter was up 71.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.50 earnings per share. As a group, sell-side analysts anticipate that Arbor Realty Trust will post 1.75 earnings per share for the current year.

In other news, Director Melvin F. Lazar purchased 2,500 shares of the business’s stock in a transaction on Thursday, May 12th. The shares were acquired at an average price of $16.39 per share, with a total value of $40,975.00. Following the completion of the transaction, the director now owns 227,500 shares of the company’s stock, valued at approximately $3,728,725. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 5.30% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Arbor Realty Trust by 28.7% during the first quarter. Vanguard Group Inc. now owns 9,436,190 shares of the real estate investment trust’s stock valued at $160,982,000 after purchasing an additional 2,103,266 shares during the period. State Street Corp raised its holdings in shares of Arbor Realty Trust by 6.4% in the 1st quarter. State Street Corp now owns 2,889,148 shares of the real estate investment trust’s stock worth $49,289,000 after acquiring an additional 174,344 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Arbor Realty Trust by 6.5% in the 4th quarter. Geode Capital Management LLC now owns 2,747,948 shares of the real estate investment trust’s stock worth $50,342,000 after acquiring an additional 168,070 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Arbor Realty Trust by 2.0% in the 4th quarter. Northern Trust Corp now owns 1,750,238 shares of the real estate investment trust’s stock worth $32,065,000 after acquiring an additional 34,477 shares during the last quarter. Finally, Morgan Stanley raised its holdings in shares of Arbor Realty Trust by 74.0% in the 2nd quarter. Morgan Stanley now owns 1,494,647 shares of the real estate investment trust’s stock worth $26,635,000 after acquiring an additional 635,468 shares during the last quarter. Hedge funds and other institutional investors own 37.93% of the company’s stock.

Arbor Realty Trust Company Profile (Get Rating)

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.

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