Why Arbor Realty Trust Stock Is Falling: Dividend Cut, Weak Q1 Earnings Put ABR Loan Book in Focus
Arbor Realty Trust cut its quarterly dividend to $0.17 from $0.30 after reporting net income of $629,000, down from $30.4 million a year earlier. Shares dropped about 11% to $7.29 as investors reacted to ongoing loan troubles and property takebacks. Non-performing assets totaled about $1 billion at quarter-end, with management warning that higher rates could slow asset resolutions.