Arbor Realty Trust (ABR) Reaches New 12-Month High at $7.98
Arbor Realty Trust (NYSE:ABR)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $7.98 and last traded at $7.96, with a volume of 102,472 shares. The stock had previously closed at $7.79.
A number of equities analysts recently commented on ABR shares. Zacks Investment Research lowered shares of Arbor Realty Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, June 1st. JMP Securities raised their price target on shares of 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 shares of 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 research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Arbor Realty Trust presently has a consensus rating of “Buy” and a consensus price target of C$8.25.
The stock has a 50 day moving average price of $7.36 and a 200 day moving average price of $6.95. The stock has a market cap of $410.02 million and a PE ratio of 12.87.
Arbor Realty Trust (NYSE:ABR) last issued its quarterly earnings results on Friday, August 5th. The company reported $0.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.16. Analysts predict that Arbor Realty Trust will post $0.70 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 31st. Investors of record on Wednesday, August 17th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 8.22%. The ex-dividend date was Monday, August 15th. This is a boost from Arbor Realty Trust’s previous quarterly dividend of $0.15.
In other news, Director Karen K. Edwards acquired 7,510 shares of the stock in a transaction that occurred on Wednesday, August 31st. The shares were acquired at an average cost of C$7.81 per share, for a total transaction of C$58,653.10. Following the purchase, the director now 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 is available through this link.
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.
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