Arbor Realty Trust (NYSE:ABR) Shares Down 4% Following Weak Earnings

Arbor Realty Trust, Inc. (NYSE:ABR)’s stock price dropped 4% during trading on Friday following a dissappointing earnings announcement. The stock traded as low as $10.71 and last traded at $10.63. Approximately 1,213,862 shares traded hands during trading, a decline of 63% from the average daily volume of 3,300,447 shares. The stock had previously closed at $11.08.

The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.02). Arbor Realty Trust had a return on equity of 14.75% and a net margin of 22.66%. The business had revenue of $262.87 million for the quarter, compared to analyst estimates of $88.92 million.

Arbor Realty Trust Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 11.17%. Arbor Realty Trust’s payout ratio is currently 144.54%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on ABR shares. JPMorgan Chase & Co. dropped their price target on shares of Arbor Realty Trust from $11.50 to $10.50 and set an “underweight” rating for the company in a research report on Wednesday, April 16th. Raymond James cut shares of Arbor Realty Trust from an “outperform” rating to a “market perform” rating in a research report on Monday, February 24th. Finally, Keefe, Bruyette & Woods cut their target price on Arbor Realty Trust from $12.00 to $11.75 and set a “market perform” rating on the stock in a research report on Monday, April 7th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $13.38.

Institutional Trading of Arbor Realty Trust

Hedge funds have recently made changes to their positions in the business. Wasatch Advisors LP increased its stake in Arbor Realty Trust by 1.0% during the 4th quarter. Wasatch Advisors LP now owns 3,547,158 shares of the real estate investment trust’s stock worth $49,128,000 after buying an additional 35,777 shares during the period. Janney Montgomery Scott LLC acquired a new position in shares of Arbor Realty Trust in the fourth quarter worth $1,144,000. Nisa Investment Advisors LLC increased its position in shares of Arbor Realty Trust by 29.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 105,373 shares of the real estate investment trust’s stock worth $1,459,000 after acquiring an additional 23,987 shares during the period. Norges Bank acquired a new stake in shares of Arbor Realty Trust in the fourth quarter valued at $8,419,000. Finally, Bank of New York Mellon Corp boosted its holdings in Arbor Realty Trust by 2.2% in the fourth quarter. Bank of New York Mellon Corp now owns 1,258,343 shares of the real estate investment trust’s stock valued at $17,428,000 after purchasing an additional 27,327 shares during the period. Institutional investors and hedge funds own 57.25% of the company’s stock.

Arbor Realty Trust Price Performance

The company has a 50 day moving average of $11.59 and a 200 day moving average of $13.27. The company has a debt-to-equity ratio of 2.41, a quick ratio of 35.68 and a current ratio of 37.49. The stock has a market capitalization of $2.06 billion, a price-to-earnings ratio of 9.03 and a beta of 1.66.

Arbor Realty Trust Company 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 through Structured Business and Agency Business segments. 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.