Arbor Realty Trust (ABR) Hits New 12-Month High at $7.89
Arbor Realty Trust (NYSE:ABR) reached a new 52-week high during trading on Monday . The company traded as high as $7.89 and last traded at $7.80, with a volume of 46,343 shares trading hands. The stock had previously closed at $7.69.
A number of research firms have recently commented on ABR. JMP Securities raised their target price on Arbor Realty Trust from $7.50 to $8.00 and gave the company a “market outperform” rating in a research report on Tuesday, August 23rd. Keefe, Bruyette & Woods raised their price target on shares of Arbor Realty Trust from $7.00 to $8.00 and gave the company a “market perform” rating in a research note on Tuesday, August 16th. Finally, Zacks Investment Research raised shares of Arbor Realty Trust from a “sell” rating to a “hold” rating in a research note on Monday, May 23rd. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of C$8.25.
The firm’s 50-day moving average price is $7.28 and its 200 day moving average price is $6.89. The company has a market cap of $397.69 million and a PE ratio of 12.48.
Arbor Realty Trust (NYSE:ABR) last announced its quarterly earnings results on Friday, August 5th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.16. On average, equities research analysts anticipate that Arbor Realty Trust will post $0.73 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 31st. Stockholders of record on Wednesday, August 17th will be issued a $0.16 dividend. The ex-dividend date is Monday, August 15th. This is a positive change from Arbor Realty Trust’s previous quarterly dividend of $0.15. This represents a $0.64 dividend on an annualized basis and a dividend yield of 8.32%.
Arbor Realty Trust, Inc is a specialized real estate finance company that invests in a diversified portfolio of structured finance assets in the multifamily and commercial real estate markets. The Company operates in the portfolio segment of commercial mortgage loans and investments. The Company invests primarily in real estate-related bridge and mezzanine loans, including junior participating interests in first mortgages, preferred and direct equity.