Arbor Realty Trust (NYSE:ABR) Price Target Raised to $16.50

Arbor Realty Trust (NYSE:ABR) had its target price boosted by JMP Securities from $16.00 to $16.50 in a research report report published on Friday morning, Benzinga reports. JMP Securities currently has a market outperform rating on the real estate investment trust’s stock.

A number of other research firms have also recently weighed in on ABR. Piper Sandler boosted their target price on shares of Arbor Realty Trust from $12.00 to $12.50 and gave the company an underweight rating in a research note on Monday, August 5th. Raymond James upped their price objective on Arbor Realty Trust from $15.00 to $16.00 and gave the company an outperform rating in a research note on Thursday, September 19th. JPMorgan Chase & Co. reduced their price objective on Arbor Realty Trust from $12.00 to $11.50 and set an underweight rating for the company in a report on Tuesday, July 16th. Finally, Keefe, Bruyette & Woods boosted their target price on Arbor Realty Trust from $13.25 to $14.00 and gave the company a market perform rating in a research note on Wednesday, July 10th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Hold and an average price target of $13.92.

Arbor Realty Trust Stock Performance

ABR stock opened at $15.56 on Friday. The business has a 50 day moving average of $13.82 and a 200-day moving average of $13.59. The firm has a market cap of $2.93 billion, a PE ratio of 9.66 and a beta of 2.05. Arbor Realty Trust has a 12-month low of $11.77 and a 12-month high of $16.35. The company has a quick ratio of 37.31, a current ratio of 37.31 and a debt-to-equity ratio of 2.78.

Arbor Realty Trust (NYSE:ABR) last announced its earnings results on Friday, August 2nd. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.02. The firm had revenue of $297.19 million during the quarter, compared to analyst estimates of $300.69 million. Arbor Realty Trust had a return on equity of 15.75% and a net margin of 24.59%. During the same period last year, the firm posted $0.56 EPS. As a group, sell-side analysts expect that Arbor Realty Trust will post 1.7 earnings per share for the current year.

Arbor Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were issued a dividend of $0.43 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $1.72 dividend on an annualized basis and a yield of 11.05%. Arbor Realty Trust’s payout ratio is 106.83%.

Institutional Trading of Arbor Realty Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in ABR. Vanguard Group Inc. increased its holdings in Arbor Realty Trust by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 18,880,882 shares of the real estate investment trust’s stock worth $286,612,000 after acquiring an additional 235,364 shares during the period. Wasatch Advisors LP raised its position in shares of Arbor Realty Trust by 16.2% in the first quarter. Wasatch Advisors LP now owns 3,490,211 shares of the real estate investment trust’s stock worth $46,245,000 after buying an additional 485,422 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Arbor Realty Trust by 3.1% during the second quarter. Bank of New York Mellon Corp now owns 1,421,552 shares of the real estate investment trust’s stock valued at $20,399,000 after buying an additional 43,165 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in Arbor Realty Trust by 6.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,337,689 shares of the real estate investment trust’s stock worth $17,724,000 after buying an additional 78,154 shares in the last quarter. Finally, Norges Bank bought a new position in Arbor Realty Trust in the 4th quarter worth about $18,775,000. 57.25% of the stock is currently owned by institutional investors.

About Arbor Realty Trust

Arbor Realty Trust, Inc invests in a diversified portfolio of structured finance assets in the multifamily, single-family rental, and commercial real estate markets in the United States. The company operates through Structured Business and Agency Business segments. It primarily invests in bridge and mezzanine loans, including junior participating interests in first mortgages, and preferred and direct equity, as well as real estate-related joint ventures, real estate-related notes, and various mortgage-related securities.