Arbor Realty Trust (NYSE:ABR) Shares Down 4% After Earnings Miss

Arbor Realty Trust, Inc. (NYSE:ABR)’s share price traded down 4% during mid-day trading on Friday after the company announced weaker than expected quarterly earnings. The stock traded as low as $10.71 and last traded at $10.63. 1,213,862 shares were traded during mid-day trading, a decline of 63% from the average session 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 analysts’ consensus estimates of $0.41 by ($0.02). The company had revenue of $262.87 million for the quarter, compared to analysts’ expectations of $88.92 million. Arbor Realty Trust had a net margin of 22.66% and a return on equity of 14.75%.

Arbor Realty Trust Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Investors 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 dividend payout ratio is presently 144.54%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on ABR shares. Keefe, Bruyette & Woods reduced their target price on shares of Arbor Realty Trust from $12.00 to $11.75 and set a “market perform” rating on the stock in a research note on Monday, April 7th. JPMorgan Chase & Co. decreased their price objective on shares of Arbor Realty Trust from $11.50 to $10.50 and set an “underweight” rating for the company in a research note on Wednesday, April 16th. Finally, Raymond James cut Arbor Realty Trust from an “outperform” rating to a “market perform” rating in a research note on Monday, February 24th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $13.38.

Hedge Funds Weigh In On Arbor Realty Trust

A number of hedge funds have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. bought a new stake in shares of Arbor Realty Trust during the fourth quarter valued at approximately $15,967,000. Invesco Ltd. lifted its holdings in shares of Arbor Realty Trust by 90.2% in the 4th quarter. Invesco Ltd. now owns 1,687,307 shares of the real estate investment trust’s stock worth $23,369,000 after buying an additional 799,973 shares during the period. Norges Bank purchased a new stake in shares of Arbor Realty Trust in the 4th quarter worth $8,419,000. Tudor Investment Corp ET AL grew its position in shares of Arbor Realty Trust by 496.9% during the 4th quarter. Tudor Investment Corp ET AL now owns 450,822 shares of the real estate investment trust’s stock worth $6,244,000 after buying an additional 375,293 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Arbor Realty Trust by 10.0% in the fourth quarter. Northern Trust Corp now owns 2,432,509 shares of the real estate investment trust’s stock valued at $33,690,000 after acquiring an additional 220,471 shares in the last quarter. 57.25% of the stock is currently owned by institutional investors.

Arbor Realty Trust Trading Down 3.1 %

The company has a quick ratio of 35.68, a current ratio of 37.49 and a debt-to-equity ratio of 2.41. The stock’s 50 day moving average is $11.59 and its two-hundred day moving average is $13.25. The company has a market capitalization of $2.06 billion, a PE ratio of 9.03 and a beta of 1.50.

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.