This Day On The Street
Continue to site
ADVERTISEMENT
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

Arbor Realty Trust Reports Fourth Quarter And Full Year 2012 Results And Declares Fourth Quarter 2012 Dividend

Fourth Quarter Highlights:

  • Declares a common dividend of $0.12 per share
  • FFO of $0.9 million, or $0.03 per diluted common share 1
  • Net loss attributable to Arbor Realty Trust, Inc. of $0.3 million, or $0.01 per diluted common share
  • Raised $19.2 million of capital issuing 3.5 million common shares
  • Originated 10 new loans totaling $90.8 million
  • Purchased five residential mortgage-backed securities totaling $40.0 million    
  • Adjusted book value per share $10.41, GAAP book value per share $7.34 1
  • Recorded $2.5 million in loan loss reserves

Subsequent Highlights:

  • Closed a $260.0 million collateralized loan obligation in January
  • Raised $37.3 million of capital in a preferred stock offering in February
  • Improved funding sources by closing a $50.0 million warehouse facility in February and increasing the capacity of two financing facilities by a total of $30.0 million in January

Full Year Highlights:

  • Reinstated quarterly cash dividend, declaring $0.405 per share of common stock related to the full year 2012
  • FFO of $23.5 million, or $0.87 per diluted common share 1
  • Net income attributable to Arbor Realty Trust, Inc. of $21.5 million, or $0.79 per diluted common share
  • Closed a $125.1 million collateralized loan obligation and a $15.0 million revolving line of credit
  • Raised $36.7 million of capital issuing 7.0 million common shares in two offerings
  • Originated $274.5 million of new loans and generated $85.3 million in cash from runoff   
  • Purchased $157.7 million in residential mortgage-backed securities
  • Generated gains of $30.5 million from the retirement of CDO debt and $4.0 million from the sale of real estate held-for-sale
  • Recorded $23.8 million in loan loss reserves
  • Recorded $0.9 million in cash recoveries of previously recorded reserves

UNIONDALE, N.Y., Feb. 15, 2013 (GLOBE NEWSWIRE) -- Arbor Realty Trust, Inc. (NYSE:ABR), a real estate investment trust focused on the business of investing in real estate related bridge and mezzanine loans, preferred and direct equity investments, mortgage-related securities and other real estate related assets, today announced financial results for the fourth quarter and year ended December 31, 2012. Arbor reported a net loss attributable to Arbor Realty Trust, Inc. for the quarter of $0.3 million, or $0.01 per diluted common share, compared to a net loss attributable to Arbor Realty Trust, Inc. for the quarter ended December 31, 2011 of $27.8 million, or $1.15 per diluted common share. Net income attributable to Arbor Realty Trust, Inc. for the year ended December 31, 2012 was $21.5 million, or $0.79 per diluted common share, compared to a net loss attributable to Arbor Realty Trust, Inc. for the year ended December 31, 2011 of $40.3 million, or $1.61 per diluted common share. Funds from operations ("FFO") for the quarter ended December 31, 2012 was $0.9 million, or $0.03 per diluted common share, compared to a loss of $24.9 million, or $1.03 per diluted common share for the quarter ended December 31, 2011. FFO for the year ended December 31, 2012 was $23.5 million, or $0.87 per diluted common share, compared to a loss of $32.6 million, or $1.30 per diluted common share for the year ended December 31, 2011. 1

The balance of the Company's loan and investment portfolio, excluding loan loss reserves, at December 31, 2012 remained relatively unchanged compared to September 30, 2012 at approximately $1.6 billion. The average balance of the Company's loan and investment portfolio during the fourth quarter of 2012, excluding loan loss reserves, was $1.6 billion and the average yield on these assets for the quarter was 5.10%, compared to $1.6 billion and 5.03% for the third quarter of 2012.

1 of 9

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 18,010.68 -115.44 -0.64%
S&P 500 2,107.39 -13.40 -0.63%
NASDAQ 5,070.0260 -27.95 -0.55%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs