Principal Financial Group Inc. Sells 40,905 Shares of Arbor Realty Trust, Inc. (NYSE:ABR)

Principal Financial Group Inc. reduced its position in Arbor Realty Trust, Inc. (NYSE:ABR) by 4.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 888,572 shares of the real estate investment trust’s stock after selling 40,905 shares during the quarter. Principal Financial Group Inc.’s holdings in Arbor Realty Trust were worth $13,826,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Certuity LLC purchased a new stake in shares of Arbor Realty Trust in the second quarter worth approximately $4,305,000. TrueMark Investments LLC bought a new stake in shares of Arbor Realty Trust during the second quarter worth $2,893,000. Cetera Investment Advisers boosted its stake in shares of Arbor Realty Trust by 358.5% during the first quarter. Cetera Investment Advisers now owns 220,559 shares of the real estate investment trust’s stock valued at $2,922,000 after purchasing an additional 172,454 shares during the period. Prevail Innovative Wealth Advisors LLC bought a new position in shares of Arbor Realty Trust in the second quarter worth about $1,425,000. Finally, Van ECK Associates Corp increased its stake in Arbor Realty Trust by 10.2% in the 2nd quarter. Van ECK Associates Corp now owns 990,484 shares of the real estate investment trust’s stock worth $14,213,000 after buying an additional 91,970 shares during the period. Institutional investors own 57.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on ABR shares. JMP Securities boosted their price objective on shares of Arbor Realty Trust from $16.00 to $16.50 and gave the company a “market outperform” rating in a research report on Friday, September 27th. Piper Sandler lifted their price target 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 increased their price objective on Arbor Realty Trust from $15.00 to $16.00 and gave the stock an “outperform” rating in a research note on Thursday, September 19th. Finally, JPMorgan Chase & Co. raised their price objective on Arbor Realty Trust from $12.00 to $13.50 and gave the stock an “underweight” rating in a report on Thursday, October 17th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $14.25.

Arbor Realty Trust Price Performance

Shares of ABR opened at $14.56 on Friday. The company has a debt-to-equity ratio of 2.67, a quick ratio of 35.68 and a current ratio of 35.68. The company has a 50 day moving average price of $15.01 and a 200-day moving average price of $14.14. Arbor Realty Trust, Inc. has a fifty-two week low of $11.77 and a fifty-two week high of $16.35. The stock has a market capitalization of $2.75 billion, a PE ratio of 10.79 and a beta of 2.06.

Arbor Realty Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.72 dividend on an annualized basis and a yield of 11.81%. Arbor Realty Trust’s dividend payout ratio is currently 127.41%.

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.