Arbor Realty Trust (ABR) Sets New 12-Month High at $7.89
Arbor Realty Trust (NYSE:ABR)’s share price hit a new 52-week high during trading on Monday . The stock traded as high as $7.89 and last traded at $7.80, with a volume of 46,343 shares changing hands. The stock had previously closed at $7.69.
Several equities analysts recently issued reports on the company. Zacks Investment Research upgraded Arbor Realty Trust from a “hold” rating to a “buy” rating and set a $8.50 price target on the stock in a research report on Tuesday, August 23rd. JMP Securities raised their price target on Arbor Realty Trust from $7.50 to $8.00 and gave the stock a “market outperform” rating in a research report on Tuesday, August 23rd. Finally, Keefe, Bruyette & Woods raised their price target on Arbor Realty Trust from $7.00 to $8.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 16th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of C$8.25.
The firm has a market capitalization of $397.69 million and a price-to-earnings ratio of 12.48. The firm has a 50 day moving average of $7.28 and a 200-day moving average of $6.89.
Arbor Realty Trust (NYSE:ABR) last announced its quarterly earnings data on Friday, August 5th. The company reported $0.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.16. On average, equities analysts forecast that Arbor Realty Trust will post $0.73 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 31st. Stockholders of record on Wednesday, August 17th will be given a $0.16 dividend. The ex-dividend date of this dividend is Monday, August 15th. This represents a $0.64 annualized dividend and a dividend yield of 8.32%. This is a boost from Arbor Realty Trust’s previous quarterly dividend of $0.15.
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.