Bank of New York Mellon Corp grew its position in Arbor Realty Trust, Inc. (NYSE:ABR – Free Report) by 1.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 666,425 shares of the real estate investment trust’s stock after acquiring an additional 6,644 shares during the quarter. Bank of New York Mellon Corp owned 0.36% of Arbor Realty Trust worth $7,657,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Arbor Realty Trust by 34.9% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,581 shares of the real estate investment trust’s stock worth $328,000 after acquiring an additional 7,399 shares during the period. Bailard Inc. boosted its stake in Arbor Realty Trust by 166.7% in the 1st quarter. Bailard Inc. now owns 34,878 shares of the real estate investment trust’s stock valued at $401,000 after buying an additional 21,800 shares in the last quarter. Sigma Planning Corp boosted its stake in Arbor Realty Trust by 12.6% in the 1st quarter. Sigma Planning Corp now owns 15,333 shares of the real estate investment trust’s stock valued at $176,000 after buying an additional 1,715 shares in the last quarter. Sandy Spring Bank boosted its stake in Arbor Realty Trust by 400.0% in the 1st quarter. Sandy Spring Bank now owns 2,500 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 2,000 shares in the last quarter. Finally, Truist Financial Corp boosted its stake in Arbor Realty Trust by 407.8% in the 1st quarter. Truist Financial Corp now owns 72,310 shares of the real estate investment trust’s stock valued at $831,000 after buying an additional 58,070 shares in the last quarter. Institutional investors own 53.00% of the company’s stock.
Analysts Set New Price Targets
Several brokerages recently commented on ABR. Wedbush began coverage on Arbor Realty Trust in a research note on Thursday, June 1st. They issued an “outperform” rating and a $15.00 price target on the stock. JPMorgan Chase & Co. lowered Arbor Realty Trust from a “neutral” rating to an “underweight” rating and boosted their price target for the company from $11.50 to $13.50 in a research note on Monday, July 24th. Raymond James boosted their price target on Arbor Realty Trust from $16.00 to $17.00 and gave the company an “outperform” rating in a research note on Wednesday, August 23rd. Piper Sandler downgraded Arbor Realty Trust from an “overweight” rating to an “underweight” rating and set a $16.00 price objective for the company. in a research report on Monday, July 31st. Finally, JMP Securities lifted their price objective on Arbor Realty Trust from $17.50 to $18.50 in a research report on Wednesday, July 19th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Arbor Realty Trust presently has an average rating of “Hold” and an average price target of $15.33.
Arbor Realty Trust Trading Up 1.3 %
Shares of ABR opened at $16.16 on Monday. The stock has a fifty day moving average price of $15.79 and a two-hundred day moving average price of $13.74. The company has a debt-to-equity ratio of 3.42, a quick ratio of 40.29 and a current ratio of 40.29. Arbor Realty Trust, Inc. has a 52-week low of $10.10 and a 52-week high of $17.74. The company has a market cap of $3.01 billion, a price-to-earnings ratio of 9.40 and a beta of 1.95.
Arbor Realty Trust Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, August 31st. Stockholders of record on Tuesday, August 15th were given a dividend of $0.43 per share. The ex-dividend date of this dividend was Monday, August 14th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 10.64%. This is an increase from Arbor Realty Trust’s previous quarterly dividend of $0.42. Arbor Realty Trust’s payout ratio is presently 100.00%.
Arbor Realty Trust Profile
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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