State of New Jersey Common Pension Fund D Reduces Stock Position in Arbor Realty Trust, Inc. (NYSE:ABR)

State of New Jersey Common Pension Fund D reduced its holdings in shares of Arbor Realty Trust, Inc. (NYSE:ABR) by 32.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 140,323 shares of the real estate investment trust’s stock after selling 67,182 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.07% of Arbor Realty Trust worth $2,014,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in ABR. Navis Wealth Advisors LLC grew its holdings in Arbor Realty Trust by 3.3% during the 1st quarter. Navis Wealth Advisors LLC now owns 24,369 shares of the real estate investment trust’s stock worth $323,000 after acquiring an additional 785 shares in the last quarter. Arizona State Retirement System lifted its position in shares of Arbor Realty Trust by 1.9% during the second quarter. Arizona State Retirement System now owns 52,773 shares of the real estate investment trust’s stock worth $757,000 after purchasing an additional 968 shares during the last quarter. Comerica Bank grew its stake in Arbor Realty Trust by 1.0% in the fourth quarter. Comerica Bank now owns 96,931 shares of the real estate investment trust’s stock worth $1,471,000 after purchasing an additional 980 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in Arbor Realty Trust by 16.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,131 shares of the real estate investment trust’s stock valued at $108,000 after buying an additional 1,010 shares during the last quarter. Finally, Louisiana State Employees Retirement System raised its stake in Arbor Realty Trust by 1.5% during the second quarter. Louisiana State Employees Retirement System now owns 94,800 shares of the real estate investment trust’s stock valued at $1,360,000 after buying an additional 1,400 shares in the last quarter. Institutional investors and hedge funds own 57.25% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on ABR shares. JPMorgan Chase & Co. decreased their target price on Arbor Realty Trust from $12.00 to $11.50 and set an “underweight” rating for the company in a research report on Tuesday, July 16th. Piper Sandler boosted their target price 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 raised their price target on shares of Arbor Realty Trust from $15.00 to $16.00 and gave the stock an “outperform” rating in a research report on Thursday. JMP Securities decreased their price target on shares of Arbor Realty Trust from $17.00 to $16.00 and set a “market outperform” rating for the company in a report on Thursday, June 20th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Arbor Realty Trust from $13.25 to $14.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 10th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $13.83.

Arbor Realty Trust Stock Down 1.1 %

Arbor Realty Trust stock opened at $15.00 on Friday. The company has a debt-to-equity ratio of 2.78, a quick ratio of 37.31 and a current ratio of 37.31. Arbor Realty Trust, Inc. has a one year low of $11.77 and a one year high of $16.35. The company has a 50-day simple moving average of $13.53 and a 200-day simple moving average of $13.46. The firm has a market capitalization of $2.83 billion, a P/E ratio of 9.32 and a beta of 2.05.

Arbor Realty Trust (NYSE:ABR) last announced its quarterly earnings results on Friday, August 2nd. The real estate investment trust reported $0.44 EPS for the quarter, beating the consensus estimate of $0.42 by $0.02. The company had revenue of $297.19 million for the quarter, compared to analyst estimates of $300.69 million. Arbor Realty Trust had a net margin of 24.59% and a return on equity of 15.75%. During the same quarter last year, the business earned $0.56 earnings per share. As a group, equities analysts expect that Arbor Realty Trust, Inc. will post 1.7 earnings per share for the current year.

Arbor Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 11.47%. The ex-dividend date was Friday, August 16th. Arbor Realty Trust’s payout ratio is currently 106.83%.

Arbor Realty Trust 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.