JPMorgan Chase & Co. Lowers Arbor Realty Trust (NYSE:ABR) Price Target to $10.00

Arbor Realty Trust (NYSE:ABR) had its target price lowered by JPMorgan Chase & Co. from $10.50 to $10.00 in a research note issued to investors on Monday morning,Benzinga reports. The brokerage currently has an underweight rating on the real estate investment trust’s stock.

ABR has been the topic of a number of other reports. Raymond James downgraded Arbor Realty Trust from an “outperform” rating to a “market perform” rating in a report on Monday, February 24th. Keefe, Bruyette & Woods lowered their target price on shares of Arbor Realty Trust from $12.00 to $11.75 and set a “market perform” rating on the stock in a research note on Monday, April 7th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $13.20.

Arbor Realty Trust Stock Performance

Shares of Arbor Realty Trust stock opened at $10.45 on Monday. Arbor Realty Trust has a 1 year low of $9.66 and a 1 year high of $15.94. The firm’s 50-day moving average is $11.48 and its 200 day moving average is $13.17. The stock has a market cap of $2.01 billion, a price-to-earnings ratio of 8.78 and a beta of 1.50. The company has a debt-to-equity ratio of 2.41, a current ratio of 37.49 and a quick ratio of 35.68.

Arbor Realty Trust (NYSE:ABR) last posted its quarterly earnings results on Friday, February 21st. The real estate investment trust reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). Arbor Realty Trust had a net margin of 22.66% and a return on equity of 14.75%. The firm had revenue of $262.87 million for the quarter, compared to analysts’ expectations of $88.92 million. Sell-side analysts anticipate that Arbor Realty Trust will post 1.65 EPS for the current fiscal year.

Arbor Realty Trust Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 11.49%. Arbor Realty Trust’s dividend payout ratio is currently 115.38%.

Hedge Funds Weigh In On Arbor Realty Trust

Several institutional investors have recently made changes to their positions in the business. Wasatch Advisors LP increased its holdings in Arbor Realty Trust by 1.0% during the fourth quarter. Wasatch Advisors LP now owns 3,547,158 shares of the real estate investment trust’s stock valued at $49,128,000 after buying an additional 35,777 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Arbor Realty Trust by 3.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,493,105 shares of the real estate investment trust’s stock worth $34,530,000 after purchasing an additional 89,309 shares during the period. Northern Trust Corp lifted its position in Arbor Realty Trust by 10.0% during the fourth quarter. Northern Trust Corp now owns 2,432,509 shares of the real estate investment trust’s stock valued at $33,690,000 after purchasing an additional 220,471 shares in the last quarter. Invesco Ltd. increased its position in Arbor Realty Trust by 90.2% in the fourth quarter. Invesco Ltd. now owns 1,687,307 shares of the real estate investment trust’s stock worth $23,369,000 after buying an additional 799,973 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Arbor Realty Trust by 2.2% in the fourth quarter. Bank of New York Mellon Corp now owns 1,258,343 shares of the real estate investment trust’s stock worth $17,428,000 after buying an additional 27,327 shares during the period. Institutional investors own 57.25% of the company’s stock.

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.