OLD National Bancorp IN Raises Stock Position in Arbor Realty Trust $ABR

OLD National Bancorp IN increased its stake in Arbor Realty Trust (NYSE:ABR) by 99.8% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 21,012 shares of the real estate investment trust’s stock after acquiring an additional 10,496 shares during the quarter. OLD National Bancorp IN’s holdings in Arbor Realty Trust were worth $225,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ABR. Oppenheimer & Co. Inc. acquired a new stake in Arbor Realty Trust during the 1st quarter worth $250,000. Cambridge Investment Research Advisors Inc. boosted its stake in Arbor Realty Trust by 5.8% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 499,202 shares of the real estate investment trust’s stock worth $5,866,000 after purchasing an additional 27,153 shares during the last quarter. GAMMA Investing LLC boosted its stake in Arbor Realty Trust by 223.0% during the 1st quarter. GAMMA Investing LLC now owns 3,343 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 2,308 shares during the last quarter. Strs Ohio acquired a new stake in Arbor Realty Trust during the 1st quarter worth $404,000. Finally, Three Seasons Wealth LLC acquired a new stake in Arbor Realty Trust during the 2nd quarter worth $391,000. Hedge funds and other institutional investors own 57.25% of the company’s stock.

Arbor Realty Trust Stock Up 0.1%

Shares of ABR opened at $12.10 on Thursday. The firm has a market cap of $2.33 billion, a P/E ratio of 13.30 and a beta of 1.37. Arbor Realty Trust has a 12-month low of $8.43 and a 12-month high of $15.76. The company’s 50-day moving average price is $11.84 and its 200 day moving average price is $11.16. The company has a current ratio of 38.37, a quick ratio of 38.37 and a debt-to-equity ratio of 2.06.

Arbor Realty Trust (NYSE:ABR) last issued its quarterly earnings data on Friday, August 1st. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.03). The company had revenue of $27.44 million during the quarter, compared to analysts’ expectations of $76.99 million. Arbor Realty Trust had a net margin of 20.75% and a return on equity of 12.26%. On average, sell-side analysts forecast that Arbor Realty Trust will post 1.65 earnings per share for the current year.

Arbor Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 9.9%. The ex-dividend date was Friday, August 15th. Arbor Realty Trust’s payout ratio is 131.87%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ABR. Keefe, Bruyette & Woods lifted their target price on shares of Arbor Realty Trust from $11.00 to $11.50 and gave the stock a “market perform” rating in a research note on Tuesday, August 5th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Arbor Realty Trust in a research note on Saturday, September 27th. JMP Securities lowered their target price on shares of Arbor Realty Trust from $13.50 to $13.00 and set a “market outperform” rating on the stock in a research note on Tuesday, August 19th. Piper Sandler lifted their target price on shares of Arbor Realty Trust from $11.00 to $11.50 and gave the stock an “underweight” rating in a research note on Wednesday. Finally, Zacks Research raised shares of Arbor Realty Trust from a “strong sell” rating to a “hold” rating in a research report on Friday, October 3rd. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Arbor Realty Trust currently has a consensus rating of “Reduce” and a consensus price target of $11.50.

Arbor Realty Trust Company Profile

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.