This Day On The Street
Continue to site right-arrow
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
TheStreet Open House

Arbor Realty Trust Reports Third Quarter 2013 Results And Declares Common Stock Dividend

Stocks in this article: ABR

Third Quarter Highlights:

- Declares a common dividend of $0.13 per share - FFO of $5.6 million, or $0.13 per diluted common share 1 - Net income attributable to common stockholders of $3.7 million, or $0.08 per diluted common share - Raised $40.9 million of capital in a common stock offering - Originated 17 new loans totaling $147.9 million - Adjusted book value per common share of $9.26, GAAP book value per common share of $7.51 1 - Generated gains of $1.2 million from the retirement of CDO debt - Recorded $1.5 million in loan loss reserves - Recorded $0.7 million in cash recoveries of previously recorded reserves

UNIONDALE, N.Y., Nov. 8, 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 third quarter ended September 30, 2013. Arbor reported net income attributable to common stockholders for the quarter of $3.7 million, or $0.08 per diluted common share, compared to $2.1 million, or $0.07 per diluted common share for the quarter ended September 30, 2012. Net income attributable to common stockholders for the nine months ended September 30, 2013 was $13.3 million, or $0.33 per diluted common share, compared to $21.8 million, or $0.84 per diluted common share for the nine months ended September 30, 2012. Funds from operations ("FFO") for the quarter ended September 30, 2013 was $5.6 million, or $0.13 per diluted common share, compared to $3.7 million, or $0.13 per diluted common share for the quarter ended September 30, 2012. FFO for the nine months ended September 30, 2013 was $18.7 million, or $0.46 per diluted common share, compared to $22.7 million, or $0.87 per diluted common share for the nine months ended September 30, 2012. 1

Portfolio Activity

The Company's loan and investment portfolio, excluding loan loss reserves, at September 30, 2013 remained relatively unchanged compared to June 30, 2013 at approximately $1.8 billion. The average balance of the Company's loan and investment portfolio during the third quarter of 2013, excluding loan loss reserves, was $1.8 billion and the average yield on these assets for the quarter was 5.62%, compared to $1.8 billion and 5.47% for the second quarter of 2013.

1 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link 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

Jim Cramer's protégé, 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
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, 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
Try it NOW
Try it NOW
Try it NOW
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!

Markets

DOW 17,164.95 -251.90 -1.45%
S&P 500 1,994.99 -26.26 -1.30%
NASDAQ 4,635.24 -48.1670 -1.03%

Partners Compare Online Brokers

Free Reports

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