Citadel Advisors LLC reduced its stake in ARBOR RLTY TR I/SH (NYSE:ABR) by 97.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 433,394 shares of the real estate investment trust’s stock after selling 16,927,094 shares during the period. Citadel Advisors LLC owned 0.57% of ARBOR RLTY TR I/SH worth $4,975,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in ABR. Tower Research Capital LLC TRC bought a new position in ARBOR RLTY TR I/SH in the third quarter worth approximately $401,000. Allianz Asset Management GmbH bought a new position in ARBOR RLTY TR I/SH in the third quarter worth approximately $3,187,000. Mirae Asset Global Investments Co. Ltd. bought a new position in ARBOR RLTY TR I/SH in the third quarter worth approximately $13,632,000. Connor Clark & Lunn Investment Management Ltd. raised its position in ARBOR RLTY TR I/SH by 28.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,077,678 shares of the real estate investment trust’s stock worth $12,372,000 after acquiring an additional 238,207 shares during the period. Finally, Virtu Financial LLC bought a new position in ARBOR RLTY TR I/SH in the third quarter worth approximately $552,000. 48.61% of the stock is owned by institutional investors.
Several research firms have weighed in on ABR. Deutsche Bank increased their price target on shares of ARBOR RLTY TR I/SH from $11.00 to $11.50 and gave the stock a “hold” rating in a research report on Monday, November 5th. Zacks Investment Research upgraded shares of ARBOR RLTY TR I/SH from a “hold” rating to a “buy” rating and set a $14.00 price target on the stock in a research report on Wednesday, November 7th. JPMorgan Chase & Co. downgraded shares of ARBOR RLTY TR I/SH from a “neutral” rating to an “underweight” rating and set a $11.55 price target on the stock. in a research report on Wednesday, October 24th. BTIG Research began coverage on shares of ARBOR RLTY TR I/SH in a research report on Monday, October 8th. They issued a “buy” rating and a $13.00 price target on the stock. Finally, JMP Securities reiterated a “buy” rating and issued a $12.00 price target on shares of ARBOR RLTY TR I/SH in a research report on Wednesday, August 15th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. ARBOR RLTY TR I/SH has an average rating of “Hold” and an average target price of $12.41.
Shares of ABR stock opened at $11.80 on Friday. The firm has a market cap of $893.84 million, a PE ratio of 10.01 and a beta of 0.15. ARBOR RLTY TR I/SH has a one year low of $7.89 and a one year high of $12.79. The company has a debt-to-equity ratio of 2.19, a quick ratio of 12.61 and a current ratio of 12.60.
ARBOR RLTY TR I/SH (NYSE:ABR) last announced its quarterly earnings data on Friday, November 2nd. The real estate investment trust reported $0.36 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.02. The firm had revenue of $27.95 million for the quarter, compared to the consensus estimate of $25.00 million. ARBOR RLTY TR I/SH had a net margin of 50.73% and a return on equity of 13.78%. ARBOR RLTY TR I/SH’s revenue was up 52.8% compared to the same quarter last year. On average, equities analysts forecast that ARBOR RLTY TR I/SH will post 1.13 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 30th. Stockholders of record on Thursday, November 15th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 9.15%. This is an increase from ARBOR RLTY TR I/SH’s previous quarterly dividend of $0.25. The ex-dividend date was Wednesday, November 14th. ARBOR RLTY TR I/SH’s dividend payout ratio (DPR) is presently 103.85%.
ARBOR RLTY TR I/SH Company Profile
Arbor Realty Trust, Inc invests in a diversified portfolio of structured finance assets in the multifamily and commercial real estate markets. It operates in two segments, Structured Business and Agency Business. The company primarily invests in real estate-related bridge and mezzanine loans, including junior participating interests in first mortgages, and preferred and direct equity, as well as real estate-related notes and various mortgage-related securities.
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