Teacher Retirement System of Texas bought a new stake in shares of Arbor Realty Trust (NYSE:ABR - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 27,573 shares of the real estate investment trust's stock, valued at approximately $324,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Novem Group increased its holdings in shares of Arbor Realty Trust by 17.2% during the first quarter. Novem Group now owns 20,197 shares of the real estate investment trust's stock valued at $237,000 after acquiring an additional 2,969 shares in the last quarter. Smallwood Wealth Investment Management LLC purchased a new stake in Arbor Realty Trust during the 1st quarter valued at about $31,000. Sunbelt Securities Inc. increased its stake in Arbor Realty Trust by 18.5% during the 1st quarter. Sunbelt Securities Inc. now owns 47,474 shares of the real estate investment trust's stock valued at $558,000 after purchasing an additional 7,420 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new position in Arbor Realty Trust in the first quarter worth about $250,000. Finally, Cambridge Investment Research Advisors Inc. lifted its stake in shares of Arbor Realty Trust by 5.8% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 499,202 shares of the real estate investment trust's stock worth $5,866,000 after buying an additional 27,153 shares in the last quarter. Institutional investors own 57.25% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research analysts have recently issued reports on the company. Keefe, Bruyette & Woods lowered their price target on Arbor Realty Trust from $11.75 to $11.00 and set a "market perform" rating on the stock in a report on Tuesday, May 6th. JPMorgan Chase & Co. lowered their target price on shares of Arbor Realty Trust from $10.50 to $10.00 and set an "underweight" rating on the stock in a research note on Monday, May 5th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $13.20.
Get Our Latest Report on ABR
Arbor Realty Trust Stock Performance
Shares of Arbor Realty Trust stock traded down $0.14 on Friday, hitting $11.21. 2,353,049 shares of the company's stock were exchanged, compared to its average volume of 3,095,325. The company has a debt-to-equity ratio of 1.92, a quick ratio of 36.48 and a current ratio of 36.48. The stock has a market capitalization of $2.15 billion, a PE ratio of 10.78 and a beta of 1.37. Arbor Realty Trust has a 1 year low of $8.43 and a 1 year high of $15.94. The company has a 50-day simple moving average of $10.42 and a 200-day simple moving average of $11.67.
Arbor Realty Trust Cuts Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 10.70%. Arbor Realty Trust's payout ratio is currently 115.38%.
Insider Buying and Selling at Arbor Realty Trust
In other Arbor Realty Trust news, CEO Ivan Kaufman purchased 140,000 shares of the firm's stock in a transaction on Wednesday, May 21st. The shares were acquired at an average cost of $9.43 per share, with a total value of $1,320,200.00. Following the completion of the acquisition, the chief executive officer directly owned 1,929,816 shares in the company, valued at $18,198,164.88. The trade was a 7.82% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders have purchased 210,000 shares of company stock valued at $1,942,000 in the last three months. Corporate insiders own 3.80% of the company's stock.
Arbor Realty Trust Profile
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Free Report)
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.
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