Arbor Realty Trust Sees Unusually-High Trading Volume After Better-Than-Expected Earnings (ABR)
Arbor Realty Trust (NYSE:ABR) saw an uptick in trading volume on Monday following a better than expected earnings announcement, American Banking News.com reports. 145,692 shares changed hands during trading, an increase of 55% from the previous session’s volume of 94,299 shares.The stock last traded at $6.99 and had previously closed at $7.02.
The company reported $0.27 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.14 by $0.13.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, September 2nd. Investors of record on Friday, August 15th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 7.41%. The ex-dividend date of this dividend is Wednesday, August 13th.
A number of research firms have recently commented on ABR. Analysts at Keefe, Bruyette & Woods initiated coverage on shares of Arbor Realty Trust in a research note on Monday, July 28th. They set a “market perform” rating on the stock. Separately, analysts at Zacks upgraded shares of Arbor Realty Trust from a “neutral” rating to an “outperform” rating in a research note on Monday, June 30th. They now have a $7.80 price target on the stock. Finally, analysts at MLV & Co
initiated coverage on shares of Arbor Realty Trust in a research note on Wednesday, June 11th. They set a “buy” rating and a $9.00 price target on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $8.68.
The stock’s 50-day moving average is $7.01 and its 200-day moving average is $6.98. The company has a market cap of $350.5 million and a price-to-earnings ratio of 20.41.
Arbor Realty Trust, Inc is a specialized real estate finance company. The Company invests in a diversified portfolio of structured finance assets in the multi-family and commercial real estate markets.
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