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Arbor Realty Trust posts Q3 loss, suspends dividend

By Reuters News


Overview

  • US real estate lender reported Q3 net loss as provisions and impairments weighed on results

  • Company suspended quarterly common stock dividend to preserve capital and maintain flexibility

  • Higher provisions for loan losses and more non-performing loans drove quarterly loss


Outlook

  • Arbor Realty Trust will continue to evaluate its dividend policy based on market conditions and company performance


Result Drivers

  • LOAN LOSS PROVISIONS - Co recorded $53 mln net provision for loan losses under CECL in Q3, citing additional delinquencies and rate modifications

  • REAL ESTATE IMPAIRMENTS - Co recorded $34.1 mln of impairments on six real estate owned properties in Q3

  • DIVIDEND SUSPENSION - Co suspended quarterly cash dividend on common stock to preserve capital and maintain financial flexibility


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

$56.4 mln

Q3 Loss Per Share

$0.51

Q3 Net Interest Income

$37.67 mln


Analyst Coverage

  • The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 3 "hold" and 2 "sell" or "strong sell"

  • The average consensus recommendation for the specialized reits peer group is "buy."

  • Wall Street's median 12-month price target for Arbor Realty Trust, Inc. is $3.25, about 7.6% above its October 29 closing price of $3.02

  • The stock recently traded at 6 times the next 12-month earnings vs. a P/E of 9 three months ago


Reuters Recommended Reads

  • Oct 28 - KKR Real Estate Finance Trust posts smaller Q3 loss on strong loan repayments

  • Oct 29 - Blackstone Mortgage Trust posts Q3 loss

  • Oct 28 - Franklin BSP Realty Trust posts Q3 net loss on credit losses


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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