Legal & General Group Plc Buys New Position in Arbor Realty Trust $ABR

Key Points

• Legal & General Group Plc initiated a position in Arbor Realty Trust, buying 429,092 shares worth approximately $2.3 million and representing about 0.23% of the REIT.
• Arbor Realty Trust reported quarterly earnings of $0.10 per share, beating the $0.05 consensus estimate, while revenue of $117.83 million also exceeded expectations. The company pays a quarterly dividend of $0.17 per share, implying a 13% annualized yield.
• Analyst sentiment remains cautious: the stock has a consensus “Reduce” rating and an average price target of $6.00, compared with a recent price of $5.24. Director William Green nevertheless increased his holdings by 12.63% through an insider purchase.

Legal & General Group Plc bought a new stake in Arbor Realty Trust (NYSE:ABR - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 429,092 shares of the real estate investment trust's stock, valued at approximately $2,326,000. Legal & General Group Plc owned approximately 0.23% of Arbor Realty Trust at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of ABR. Royal Bank of Canada boosted its stake in shares of Arbor Realty Trust by 3.5% in the first quarter. Royal Bank of Canada now owns 132,181 shares of the real estate investment trust's stock valued at $1,553,000 after purchasing an additional 4,470 shares during the period. Jones Financial Companies Lllp increased its stake in Arbor Realty Trust by 25,163.2% during the 1st quarter. Jones Financial Companies Lllp now owns 4,800 shares of the real estate investment trust's stock worth $56,000 after buying an additional 4,781 shares during the period. United Services Automobile Association acquired a new stake in Arbor Realty Trust during the 1st quarter worth approximately $145,000. Focus Partners Wealth acquired a new stake in Arbor Realty Trust during the 1st quarter worth approximately $161,000. Finally, Russell Investments Group Ltd. boosted its position in Arbor Realty Trust by 61.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 4,705 shares of the real estate investment trust's stock valued at $50,000 after buying an additional 1,782 shares during the period. 57.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Arbor Realty Trust

In related news, Director William Green bought 25,951 shares of the stock in a transaction dated Monday, August 31st. The stock was acquired at an average price of $5.07 per share, for a total transaction of $131,571.57. Following the acquisition, the director owned 231,369 shares in the company, valued at approximately $1,173,040.83. This represents a 12.63% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 4.20% of the company's stock.

Arbor Realty Trust Trading Up 1.0%

NYSE:ABR opened at $5.24 on Friday. Arbor Realty Trust has a 1 year low of $4.73 and a 1 year high of $12.57. The stock has a market cap of $977.57 million, a P/E ratio of 74.86 and a beta of 1.15. The company has a debt-to-equity ratio of 2.33, a quick ratio of 478.85 and a current ratio of 478.85. The stock has a 50-day simple moving average of $5.12 and a 200-day simple moving average of $6.29.

Arbor Realty Trust (NYSE:ABR - Get Free Report) last posted its earnings results on Friday, July 31st. The real estate investment trust reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.05. The firm had revenue of $117.83 million during the quarter, compared to analysts' expectations of $107.75 million. Arbor Realty Trust had a return on equity of 7.38% and a net margin of 6.24%. As a group, analysts anticipate that Arbor Realty Trust will post 0.29 earnings per share for the current fiscal year.

Arbor Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 13.0%. The ex-dividend date was Friday, August 14th. Arbor Realty Trust's payout ratio is currently 971.43%.

Wall Street Analyst Weigh In

Several equities analysts have commented on ABR shares. JPMorgan Chase & Co. upgraded shares of Arbor Realty Trust from an "underweight" rating to a "neutral" rating and dropped their price target for the stock from $7.00 to $5.50 in a research note on Friday, July 17th. Keefe, Bruyette & Woods reduced their price objective on Arbor Realty Trust from $5.50 to $5.00 and set an "underperform" rating on the stock in a research note on Monday, August 3rd. Zacks Research upgraded Arbor Realty Trust from a "strong sell" rating to a "hold" rating in a report on Monday, August 31st. Weiss Ratings cut Arbor Realty Trust from a "sell (d+)" rating to a "sell (d)" rating in a research note on Thursday, July 30th. Finally, Citizens Jmp cut their price target on Arbor Realty Trust from $9.50 to $8.50 and set a "market outperform" rating on the stock in a report on Thursday, May 14th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Reduce" and an average target price of $6.00.

Arbor Realty Trust Company Profile

Arbor Realty Trust, Inc NYSE: ABR is a real estate investment trust specializing in the origination, acquisition, financing, structuring and management of commercial real estate loans and securities. The company focuses primarily on multifamily and commercial mortgage lending, targeting properties such as apartment communities, senior housing and healthcare facilities. Through both agency and non-agency channels, Arbor Realty Trust seeks to deliver liquidity solutions to borrowers while generating stable, risk-adjusted returns for its shareholders.

Core business activities include originating first-mortgage loans secured by multifamily and mixed-use properties, as well as providing mezzanine financing and preferred equity investments.

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