This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Arbor Realty Trust, Inc. Q1 2010 Earnings Call Transcript

Clearly, these substantial debt retirements are major step of positioning us more favorably for the future. It will improve the right side of our balance sheet significantly by reducing the leverage and recourse that substantially leaving us poised to take advantage of the opportunities that will exist in the market.

We continue to focus heavily on increasing and maintaining our liquidity. And as of today, we have approximately $73 million of cash on hand and around 20 million of cash collateral posted against our swaps.

We’re also pleased with our ability to manage our CDO vehicles sufficiently, receiving all of the cash distributions from these vehicles in 2009 and the first two quarters of 2010. And while there can be no assurances that our CDO vehicles will continue to cash flow in the future we will remain focus on optimizing and utilizing these facilities by transferring assets and originating loans where available and appropriate.

The effective management of our CDOs has contributed greatly to a reduction of our warehouse and term debt facilities, which as I have mentioned earlier has reduced the amount due on the discount to pay off with Wachovia.

Although we have recorded significant losses in the 2008 and 2009 we have done an effective job of managing through the downturn by restructuring our balance sheet. This include repurchasing the Wachovia and trust-preferred debt at deep discounts as well as restructuring the substantial amount of our assets creating a higher quality portfolio going forward and execute an effective strategy of mitigating the offsetting losses from these assets to the repurchase of other debt and monetizing our equity investments.

In fact we’ve recorded $54 million in gains from these debt repurchase in 2008 and 2009, 47 million in the first quarter of 2010 and another 13 million already in the second quarter of 2010. As we stated earlier we’re expecting a significant gain from the completion of the retirements of the Wachovia debt.

Read the rest of this transcript for free on seekingalpha.com

3 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,985.61 +78.99 0.47%
S&P 500 1,972.83 +9.12 0.46%
NASDAQ 4,419.0340 +27.5710 0.63%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs