Bank of America Corp DE Purchases New Position in Arbor Realty Trust $ABR

Key Points

• Bank of America acquired 349,044 Arbor Realty Trust shares during the second quarter, worth approximately $1.89 million and representing about 0.19% of the company.
• Institutional investors own 57.25% of Arbor Realty Trust, while director William Green purchased 25,951 shares valued at roughly $131,572, increasing his holdings by 12.63%.
• Arbor Realty Trust’s shares opened at $3.87, near their one-year low, while the company pays a $0.17 quarterly dividend yielding about 17.6%. Analysts maintain a consensus “Reduce” rating with a $6.00 price target.

Bank of America Corp DE acquired a new stake in shares of Arbor Realty Trust (NYSE:ABR - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 349,044 shares of the real estate investment trust's stock, valued at approximately $1,892,000. Bank of America Corp DE owned approximately 0.19% of Arbor Realty Trust as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. NFSG Corp raised its stake in Arbor Realty Trust by 10.0% in the first quarter. NFSG Corp now owns 17,025 shares of the real estate investment trust's stock worth $131,000 after buying an additional 1,553 shares in the last quarter. Bessemer Group Inc. purchased a new position in shares of Arbor Realty Trust in the 1st quarter valued at $29,000. D.A. Davidson & CO. increased its holdings in shares of Arbor Realty Trust by 7.7% in the 1st quarter. D.A. Davidson & CO. now owns 69,574 shares of the real estate investment trust's stock valued at $536,000 after acquiring an additional 4,952 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of Arbor Realty Trust by 57.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 15,654 shares of the real estate investment trust's stock valued at $121,000 after acquiring an additional 5,734 shares during the period. Finally, Pictet Asset Management Holding SA raised its position in shares of Arbor Realty Trust by 21.4% in the 1st quarter. Pictet Asset Management Holding SA now owns 35,719 shares of the real estate investment trust's stock worth $275,000 after acquiring an additional 6,290 shares in the last quarter. 57.25% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director William Green bought 25,951 shares of the company's stock in a transaction on Monday, August 31st. The shares were bought at an average price of $5.07 per share, with a total value of $131,571.57. Following the transaction, the director owned 231,369 shares in the company, valued at approximately $1,173,040.83. This trade represents a 12.63% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.20% of the stock is owned by company insiders.

Arbor Realty Trust Trading Down 2.6%

Arbor Realty Trust stock opened at $3.87 on Thursday. The stock has a 50-day moving average of $4.89 and a two-hundred day moving average of $5.84. The company has a debt-to-equity ratio of 2.33, a quick ratio of 478.85 and a current ratio of 478.85. Arbor Realty Trust has a one year low of $3.76 and a one year high of $12.57. The stock has a market cap of $721.05 million, a PE ratio of 55.21 and a beta of 1.15.

Arbor Realty Trust (NYSE:ABR - Get Free Report) last issued its quarterly earnings results on Friday, July 31st. The real estate investment trust reported $0.10 earnings per share for the quarter, topping analysts' consensus estimates of $0.05 by $0.05. Arbor Realty Trust had a return on equity of 7.38% and a net margin of 6.24%.The business had revenue of $117.83 million for the quarter, compared to analyst estimates of $107.75 million. On average, research analysts anticipate that Arbor Realty Trust will post 0.23 EPS for the current fiscal year.

Arbor Realty Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were paid a $0.17 dividend. The ex-dividend date was Friday, August 14th. This represents a $0.68 dividend on an annualized basis and a yield of 17.6%. Arbor Realty Trust's dividend payout ratio (DPR) is 971.43%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Weiss Ratings cut Arbor Realty Trust from a "sell (d+)" rating to a "sell (d)" rating in a research note on Thursday, July 30th. Zacks Research upgraded Arbor Realty Trust from a "strong sell" rating to a "hold" rating in a research note on Monday, August 31st. JPMorgan Chase & Co. upgraded shares of Arbor Realty Trust from an "underweight" rating to a "neutral" rating and reduced their target price for the stock from $7.00 to $5.50 in a report on Friday, July 17th. Citizens Jmp reissued a "market perform" rating on shares of Arbor Realty Trust in a research report on Tuesday. Finally, Keefe, Bruyette & Woods lowered their price target on shares of Arbor Realty Trust from $5.50 to $5.00 and set an "underperform" rating on the stock in a report on Monday, August 3rd. Three equities research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Reduce" and a consensus price target of $6.00.

Arbor Realty Trust Profile

Arbor Realty Trust, Inc is a real estate investment trust that specializes in financing and investing in commercial real estate. The company focuses primarily on the multifamily housing sector, providing capital to property owners, operators and developers through a range of lending and investment programs.

Its business activities include originating bridge and structured loans, acquiring or investing in mortgage-related assets, and providing mezzanine loans and preferred equity investments.

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