Arbor Realty Trust (ABR) Downgraded by Zacks Investment Research to “Hold”
Arbor Realty Trust (NYSE:ABR) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “Arbor Realty Trust is a specialized real estate finance company investing in real estate-related bridge and mezzanine loans, preferred equity, mortgage-related securities and other real estate-related assets. “
Other equities research analysts have also issued reports about the stock. JMP Securities lifted 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 note on Tuesday, August 23rd. Keefe, Bruyette & Woods lifted 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 note on Tuesday, August 16th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of C$8.25.
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Arbor Realty Trust (NYSE:ABR) traded down 0.27% during midday trading on Tuesday, hitting $7.34. 53,036 shares of the stock traded hands. The company’s 50 day moving average is $7.52 and its 200-day moving average is $7.14. The company has a market cap of $377.14 million, a P/E ratio of 11.84 and a beta of 0.49. Arbor Realty Trust has a one year low of $6.01 and a one year high of $7.99.
Arbor Realty Trust (NYSE:ABR) last released its quarterly earnings data on Friday, August 5th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.16. Arbor Realty Trust had a net margin of 36.72% and a return on equity of 8.27%. On average, equities research analysts forecast that Arbor Realty Trust will post $0.70 EPS for the current fiscal year.
In other Arbor Realty Trust news, Director Karen K. Edwards acquired 7,510 shares of the company’s stock in a transaction on Wednesday, August 31st. The shares were bought at an average cost of C$7.81 per share, for a total transaction of C$58,653.10. Following the completion of the purchase, the director now owns 75,000 shares in the company, valued at approximately C$585,750. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 15.30% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp raised its position in Arbor Realty Trust by 0.7% in the second quarter. Bank of New York Mellon Corp now owns 120,485 shares of the company’s stock worth $866,000 after buying an additional 793 shares in the last quarter. BlackRock Advisors LLC raised its position in Arbor Realty Trust by 6.6% in the second quarter. BlackRock Advisors LLC now owns 19,082 shares of the company’s stock worth $137,000 after buying an additional 1,184 shares in the last quarter. ClariVest Asset Management LLC raised its position in Arbor Realty Trust by 3.8% in the second quarter. ClariVest Asset Management LLC now owns 124,113 shares of the company’s stock worth $892,000 after buying an additional 4,600 shares in the last quarter. Baird Financial Group Inc. raised its position in Arbor Realty Trust by 3.2% in the second quarter. Baird Financial Group Inc. now owns 161,491 shares of the company’s stock worth $1,161,000 after buying an additional 4,942 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in Arbor Realty Trust by 5.3% in the first quarter. Geode Capital Management LLC now owns 228,096 shares of the company’s stock worth $1,543,000 after buying an additional 11,467 shares in the last quarter. Institutional investors own 40.78% of the company’s stock.
About Arbor Realty Trust
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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