Arbor Realty Q2 Earnings Plunge on Higher Provisions, Impairments
ABR is trading near its 52-week low of $4.77 (2.0% below the low).
Summary
Arbor Realty Trust's Q2 distributable earnings fell to $0.10 per share from $0.25 a year ago, driven by higher credit loss provisions and $13.6 million in impairments on two properties. The company swung to a net loss of $37.34 million, with portfolio yield declining as delinquencies and rate modifications rose. This follows a Q1 earnings miss and dividend cut in May, and a $375 million convertible note offering in July aimed at shoring up liquidity. The $135 million stock repurchase signals management's attempt to support the shares, but the deteriorating credit metrics and lack of guidance keep the outlook uncertain. With the stock trading near its 52-week low, the results reinforce concerns about the commercial real estate exposure.
At the time of this announcement, ABR was trading at $4.67 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $921.4M. The 52-week trading range was $4.77 to $12.58. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Reuters.