Arbor Realty Trust (ABR) Hits New 12-Month High at $7.98
Arbor Realty Trust (NYSE:ABR) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $7.98 and last traded at $7.96, with a volume of 102,472 shares traded. The stock had previously closed at $7.79.
Several research analysts have issued reports on ABR shares. Zacks Investment Research raised Arbor Realty Trust from a “sell” rating to a “hold” rating in a research report on Monday, May 23rd. Keefe, Bruyette & Woods raised their target price 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. Finally, JMP Securities raised their target price 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. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Arbor Realty Trust presently has a consensus rating of “Buy” and a consensus target price of C$8.25.
The company has a market cap of $410.02 million and a PE ratio of 12.87. The firm’s 50-day moving average price is $7.36 and its 200-day moving average price is $6.95.
Arbor Realty Trust (NYSE:ABR) last announced its earnings results on Friday, August 5th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.16. Equities analysts predict that Arbor Realty Trust will post $0.70 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 31st. Investors of record on Wednesday, August 17th were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 8.22%. This is an increase from Arbor Realty Trust’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Monday, August 15th.
In other Arbor Realty Trust news, Director Karen K. Edwards bought 7,510 shares of Arbor Realty Trust stock in a transaction that occurred on Wednesday, August 31st. The shares were bought at an average cost of C$7.81 per share, with a total value of C$58,653.10. Following the transaction, the director now directly owns 75,000 shares of the company’s stock, valued at approximately C$585,750. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.