Why Arbor Realty Trust Stock Is Falling: Dividend Cut, Weak Q1 Earnings Put ABR Loan Book in Focus
Shares of Arbor Realty Trust slid roughly 11% Friday, with the commercial mortgage REIT trimming its quarterly common dividend and posting first-quarter results that offered scant cushion for its credit cleanup efforts. The stock last traded at $7.29, after hitting a session low of $7.02. Uniondale, New York’s Arbor Realty Trust posted net income attributable to common stockholders of just $629,000 for the quarter, translating to $0.00 per diluted share. A year ago, the figure stood at $30.4 million, or $0.16 a share. The board kept its common dividend at $0.17 per share, with a payout scheduled for June 5 to shareholders on record as of May 22.