Zacks: Arbor Realty Trust (ABR) Given Consensus Rating of “Strong Buy” by Analysts
Arbor Realty Trust (NYSE:ABR) has been assigned an average broker rating score of 1.00 (Strong Buy) from the two analysts that cover the company, Zacks Investment Research reports. Two investment analysts have rated the stock with a strong buy recommendation.
Brokerages have set a one year consensus price objective of $9.00 for the company and are forecasting that the company will post $0.20 earnings per share for the current quarter, according to Zacks. Zacks has also given Arbor Realty Trust an industry rank of 161 out of 265 based on the ratings given to related companies.
Separately, Zacks Investment Research raised shares of Arbor Realty Trust from a “hold” rating to a “buy” rating and set a $9.25 price objective on the stock in a research note on Tuesday, July 18th.
In other Arbor Realty Trust news, Director Melvin F. Lazar acquired 6,785 shares of Arbor Realty Trust stock in a transaction that occurred on Wednesday, August 30th. The shares were bought at an average price of $8.04 per share, with a total value of $54,551.40. Following the completion of the purchase, the director now directly owns 169,615 shares in the company, valued at approximately $1,363,704.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William B. Helmreich sold 28,000 shares of the business’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $8.03, for a total transaction of $224,840.00. Following the completion of the sale, the director now directly owns 178,735 shares in the company, valued at approximately $1,435,242.05. The disclosure for this sale can be found here. Insiders own 16.50% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Magnetar Financial LLC boosted its position in Arbor Realty Trust by 155.1% during the third quarter. Magnetar Financial LLC now owns 66,081 shares of the real estate investment trust’s stock valued at $542,000 after acquiring an additional 40,179 shares during the last quarter. Mackenzie Financial Corp boosted its position in Arbor Realty Trust by 53.4% during the third quarter. Mackenzie Financial Corp now owns 190,000 shares of the real estate investment trust’s stock valued at $1,558,000 after acquiring an additional 66,160 shares during the last quarter. Schwab Charles Investment Management Inc. bought a new stake in Arbor Realty Trust during the third quarter valued at $807,000. Wells Fargo & Company MN boosted its position in Arbor Realty Trust by 31.3% during the third quarter. Wells Fargo & Company MN now owns 52,889 shares of the real estate investment trust’s stock valued at $434,000 after acquiring an additional 12,622 shares during the last quarter. Finally, Wasatch Advisors Inc. boosted its position in Arbor Realty Trust by 1.1% during the third quarter. Wasatch Advisors Inc. now owns 2,425,742 shares of the real estate investment trust’s stock valued at $19,891,000 after acquiring an additional 27,044 shares during the last quarter. 47.77% of the stock is currently owned by institutional investors.
Shares of Arbor Realty Trust (ABR) traded down $0.07 during trading hours on Friday, hitting $8.21. 331,400 shares of the stock traded hands, compared to its average volume of 309,926. The firm has a market capitalization of $528.17, a P/E ratio of 8.48 and a beta of 0.61. The company has a quick ratio of 13.19, a current ratio of 13.19 and a debt-to-equity ratio of 1.72. Arbor Realty Trust has a 52 week low of $6.92 and a 52 week high of $8.99.
Arbor Realty Trust (NYSE:ABR) last issued its quarterly earnings data on Friday, November 3rd. The real estate investment trust reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.08. Arbor Realty Trust had a net margin of 57.54% and a return on equity of 11.61%. The company had revenue of $42.14 million for the quarter. sell-side analysts expect that Arbor Realty Trust will post 1 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 30th. Investors of record on Wednesday, November 15th will be paid a $0.19 dividend. This is a boost from Arbor Realty Trust’s previous quarterly dividend of $0.18. The ex-dividend date is Tuesday, November 14th. This represents a $0.76 annualized dividend and a dividend yield of 9.26%. Arbor Realty Trust’s payout ratio is currently 61.54%.
About Arbor Realty Trust
Arbor Realty Trust, Inc is a real estate investment trust. The Company invests in a portfolio of structured finance assets in the multifamily and commercial real estate markets, primarily consisting of bridge and mezzanine loans, including junior participating interests in first mortgages, preferred and direct equity.
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