California Public Employees Retirement System reduced its position in shares of Arbor Realty Trust (NYSE:ABR) by 4.7% during the second quarter, Holdings Channel reports. The institutional investor owned 242,700 shares of the company’s stock after selling 12,000 shares during the period. California Public Employees Retirement System owned 0.47% of Arbor Realty Trust worth $1,745,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Royal Bank of Canada raised its stake in Arbor Realty Trust by 0.5% in the first quarter. Royal Bank of Canada now owns 115,200 shares of the company’s stock worth $780,000 after buying an additional 600 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Arbor Realty Trust by 0.7% in the second quarter. Bank of New York Mellon Corp now owns 120,485 shares of the company’s stock worth $866,000 after buying an additional 793 shares during the last quarter. ClariVest Asset Management LLC raised its stake in Arbor Realty Trust by 3.8% in the second quarter. ClariVest Asset Management LLC now owns 124,113 shares of the company’s stock worth $892,000 after buying an additional 4,600 shares during the last quarter. Geode Capital Management LLC raised its stake in Arbor Realty Trust by 5.3% in the first quarter. Geode Capital Management LLC now owns 228,096 shares of the company’s stock worth $1,543,000 after buying an additional 11,467 shares during the last quarter. Finally, LMR Partners LLP bought a new stake in Arbor Realty Trust during the second quarter worth approximately $184,000. Institutional investors and hedge funds own 40.76% of the company’s stock.
Shares of Arbor Realty Trust (NYSE:ABR) traded up 1.94% during mid-day trading on Friday, reaching $7.35. The company’s stock had a trading volume of 144,750 shares. The company has a market capitalization of $377.65 million, a PE ratio of 11.85 and a beta of 0.49. The firm’s 50 day moving average is $7.57 and its 200-day moving average is $7.10. Arbor Realty Trust has a 52-week low of $6.01 and a 52-week high of $7.99.
Arbor Realty Trust (NYSE:ABR) last posted its quarterly earnings data on Friday, August 5th. The company reported $0.23 EPS for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.16. Arbor Realty Trust had a return on equity of 8.27% and a net margin of 36.72%. Analysts forecast that Arbor Realty Trust will post $0.70 EPS for the current year.
A number of analysts recently commented on ABR shares. Zacks Investment Research raised Arbor Realty Trust from a “hold” rating to a “buy” rating and set a $8.50 price objective on the stock in a research note on Tuesday, August 23rd. JMP Securities raised their price target on Arbor Realty Trust from $7.50 to $8.00 and gave the stock a “market outperform” rating in a research note on Tuesday, August 23rd. Finally, Keefe, Bruyette & Woods raised their price target on Arbor Realty Trust from $7.00 to $8.00 and gave the stock a “market perform” rating in a research note on Tuesday, August 16th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Arbor Realty Trust presently has an average rating of “Buy” and an average price target of C$8.25.
In other news, Director Karen K. Edwards acquired 7,510 shares of the company’s stock in a transaction dated Wednesday, August 31st. The shares were bought at an average price of C$7.81 per share, with a total value of C$58,653.10. Following the purchase, the director now owns 75,000 shares of the company’s stock, valued at C$585,750. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. 15.30% of the stock is owned by insiders.
About Arbor Realty Trust
Arbor Realty Trust, Inc is a specialized real estate finance company that invests in a diversified portfolio of structured finance assets in the multifamily and commercial real estate markets. The Company operates in the portfolio segment of commercial mortgage loans and investments. The Company invests primarily in real estate-related bridge and mezzanine loans, including junior participating interests in first mortgages, preferred and direct equity.
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