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TheStreet Open House

Arbor Realty Trust Reports First Quarter 2013 Results And Declares Common And Preferred Dividends

First Quarter Highlights:

  • Declares a common dividend of $0.12 per share
  • Declares a dividend of $0.6875 per share of Series A preferred stock
  • FFO of $8.3 million, or $0.24 per diluted common share 1
  • Net income attributable to common stockholders of $6.6 million, or $0.19 per diluted common share
  • Raised $88.8 million of capital issuing 11.6 million common shares in two offerings
  • Raised $37.3 million of capital in a preferred stock offering
  • Closed a $260.0 million collateralized loan obligation
  • Improved funding sources by closing a $50.0 million warehouse facility and increased the capacity of two financing facilities by a total of $30.0 million
  • Originated 10 new loans totaling $98.9 million
  • Purchased four residential mortgage-backed securities totaling $41.8 million  
  • Adjusted book value per common share of $9.68, GAAP book value per common share of $7.53 1
  • Generated a gain of $3.8 million from the retirement of CDO debt       
  • Recorded $2.5 million in loan loss reserves

UNIONDALE, N.Y., May 3, 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 first quarter ended March 31, 2013. Arbor reported net income attributable to common stockholders for the quarter of $6.6 million, or $0.19 per diluted common share, compared to net income attributable to common stockholders for the quarter ended March 31, 2012 of $4.2 million, or $0.17 per diluted common share. Funds from operations ("FFO") for the quarter ended March 31, 2013 was $8.3 million, or $0.24 per diluted common share, compared to FFO of $1.9 million, or $0.08 per diluted common share for the quarter ended March 31, 2012. 1

The balance of the Company's loan and investment portfolio, excluding loan loss reserves, at March 31, 2013 was approximately $1.7 billion, as compared to approximately $1.6 billion at December 31, 2012. The average balance of the Company's loan and investment portfolio during the first quarter of 2013, excluding loan loss reserves, was $1.7 billion and the average yield on these assets for the quarter was 5.63%, compared to $1.6 billion and 5.10% for the fourth quarter of 2012.

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