Arbor Realty Trust, Inc.
- Open
- 5.13
- Day high
- 5.24
- Day low
- 5.12
- Prev close
- 5.05
- Volume
- 3.6M
- Mkt cap
- $994M
- P/E (TTM)
- 10.9
- EPS (TTM)
- $0.47
- P/B
- 0.3
- P/S
- 0.8
- Yield
- 20.78%
- Per share
- $1.07
- ▲Insiders net buying $46K over the last 3 months (7 open-market buys, 2 sales)
- ◆Cluster buying — multiple insiders bought within days
- 🏛Institutions mixed (13F)
Arbor Realty Trust, Inc. (ABR) is a Real Estate company listed on NYSE. The stock is down 55% over the past year. Over the trailing 3 months, insiders filed 7 open-market buys and 2 sales (SEC Form 4).
Arbor Realty Trust, Inc. (ABR) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 3 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
ABR earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 8, 2026 | $0.16 | $0.07 | -56.3% | $117M | +6.9% |
| Oct 31, 2025 | $0.23 | $0.35 | +50.9% | $112M | -27.2% |
| Aug 1, 2025 | $0.23 | $0.25 | +9.4% | $130M | +0.9% |
| May 2, 2025 | $0.27 | $0.28 | +3.4% | $134M | -2.8% |
| Feb 21, 2025 | $0.42 | $0.39 | -7.1% | $166M | +85.6% |
| Nov 1, 2024 | $0.39 | $0.43 | +10.3% | $159M | +90.8% |
| Aug 2, 2024 | $0.44 | $0.45 | +2.3% | $143M | +58.6% |
| May 3, 2024 | $0.44 | $0.47 | +6.8% | $160M | +75.7% |
| Feb 16, 2024 | $0.44 | $0.51 | +15.9% | $189M | +93.9% |
| Oct 27, 2023 | $0.48 | $0.55 | +14.6% | $176M | +75.8% |
| Jul 28, 2023 | $0.47 | $0.57 | +21.3% | $178M | +81.3% |
| May 5, 2023 | $0.44 | $0.62 | +40.9% | $176M | +81.7% |
ABR insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 1, 2026 | BACON KENNETH Jdirector | Grant | 5,555 | — |
| Jun 16, 2026 | Green William Cdirector | Grant | 2,064 | — |
| Jun 16, 2026 | BACON KENNETH Jdirector | Grant | 357 | — |
| Jun 16, 2026 | LAZAR MELVIN Fdirector | Grant | 1,730 | — |
| Jun 5, 2026 | Tsunis Georgedirector | Buy | 26,700 | $5.58 |
| Jun 5, 2026 | Tsunis Georgedirector | Sell | 26,700 | $5.57 |
| May 27, 2026 | Tsunis Georgedirector | Buy | 500 | $5.51 |
| May 20, 2026 | Tsunis Georgedirector | Buy | 3,400 | $5.86 |
| May 20, 2026 | Tsunis Georgedirector | Buy | 100 | $5.85 |
| May 18, 2026 | Tsunis Georgedirector | Buy | 1,510 | $5.83 |
| May 18, 2026 | Tsunis Georgedirector | Buy | 1,000 | $5.83 |
| May 13, 2026 | Friedman David Erwinofficer: CCO & Head of Non-Agcy Prod | Sell | 7,685 | $6.87 |
| May 13, 2026 | Friedman David Erwinofficer: CCO & Head of Non-Agcy Prod | Buy | 8,840 | $6.84 |
| Apr 2, 2026 | BACON KENNETH Jdirector | Grant | 3,947 | — |
| Mar 25, 2026 | LAZAR MELVIN Fdirector | Grant | 1,452 | — |
Source: ABR SEC Form 4 filings, latest Jul 1, 2026. For informational purposes only — not investment advice.
See the full ABR insider & 13F page →Arbor Realty Trust, Inc. company profile
Overview
Arbor Realty Trust, Inc. (NYSE:ABR) is a real estate investment trust (REIT) founded in 2003 and incorporated in Maryland. The company went public in April 2004 and is headquartered in Uniondale, New York. Arbor operates as a mortgage REIT specializing in structured finance across the multifamily, single-family rental, and commercial real estate markets throughout the United States. The company has evolved from a traditional bridge lender into a diversified real estate finance platform with multiple business segments generating both interest income and fee-based revenues.
Business
Arbor Realty Trust operates in the mortgage REIT industry, which involves investing in and originating real estate-related debt instruments rather than owning physical properties directly. The company provides various forms of real estate financing and operates through two primary business segments. The Structured Business segment represents Arbor's balance sheet lending operations, where the company originates and holds loans as investments. This segment focuses on bridge loans (short-term financing for property acquisitions), mezzanine loans (subordinate debt that sits between senior debt and equity), preferred equity investments, and junior participation interests in first mortgages. Bridge loans are particularly important as they provide temporary financing to real estate investors who need quick capital to acquire properties before securing permanent financing. The company has also expanded into construction lending and maintains a significant single-family rental (SFR) lending platform, having originated over $5 billion in SFR loans to date. The Agency Business segment operates as a conduit lender, originating multifamily mortgage loans that are then sold to government-sponsored enterprises (GSEs) like Fannie Mae and Freddie Mac, or packaged into commercial mortgage-backed securities (CMBS). This segment generates fee income from loan origination, sales margins, and ongoing servicing rights. The company maintains a substantial servicing portfolio of approximately $33 billion, which provides recurring fee-based income through mortgage servicing rights (MSR). Based on recent financial data, the Structured Business segment appears to generate the majority of revenues through interest income, while the Agency Business contributes through fee-based income streams, though specific revenue breakdowns between segments are not consistently disclosed in the earnings calls.
Revenue model
Arbor generates revenue through multiple complementary business models that provide both interest income and fee-based earnings. The Structured Business operates as a traditional lender, earning interest income on its $11-12 billion loan portfolio with yields averaging around 8%. The company funds these loans through various debt facilities including collateralized loan obligations (CLOs), commercial bank debt, and securitizations. The Agency Business functions as an originate-to-distribute model, where Arbor originates multifamily loans and sells them to GSEs, earning origination fees and loan sale margins that have averaged 1.5-1.6% in recent periods. Additionally, the company retains servicing rights on sold loans, generating ongoing servicing income from a $33 billion portfolio. The servicing business also benefits from escrow earnings on borrower deposits, which has provided approximately $150 million annually when interest rates were elevated. Several factors influence Arbor's profitability margins. Interest rate movements have significant impact - rising rates increase funding costs and can stress borrowers, leading to higher delinquencies, while falling rates can reduce escrow earnings but may stimulate refinancing activity. Real estate market conditions directly affect loan performance, with property value declines potentially leading to losses on non-performing loans. The company's credit underwriting quality becomes crucial during market downturns, as evidenced by elevated delinquencies in 2022-2023 vintage loans. Competition from banks and other lenders can compress margins, while regulatory changes affecting GSE programs impact the Agency Business. The company's diversified model provides some protection, as Agency Business income can partially offset Structured Business challenges during stressed periods.
Competitive moat
Arbor's competitive moat is moderate but faces significant challenges in the current environment. The company's primary advantages include its established relationships with government-sponsored enterprises (Fannie Mae and Freddie Mac), which provide access to the lucrative agency lending market that has barriers to entry through required certifications and track records. The company's $33 billion servicing portfolio creates a recurring revenue stream and valuable customer relationships that can generate repeat business. However, Arbor's moat is not particularly strong. The real estate lending business is highly competitive with numerous banks, credit funds, and other REITs offering similar products. The company's bridge lending and structured finance activities face competition from well-capitalized private credit funds and regional banks. Interest rate sensitivity creates vulnerability, as demonstrated by the significant stress in the portfolio during 2022-2024 when rising rates led to widespread borrower difficulties. The company's underwriting quality has proven inconsistent, with management acknowledging that 2022-2023 loan vintages performed poorly due to peak market assumptions and inexperienced market participants. This suggests the company may lack superior credit selection capabilities compared to competitors. Additionally, the mortgage REIT model is inherently cyclical and capital-intensive, requiring continuous access to funding markets that can become stressed during economic downturns. While Arbor's diversified business model provides some stability, the company remains vulnerable to real estate cycles and credit events that could significantly impair asset values and earnings power.
Risks & safety
Arbor's margin of safety appears moderate to weak given current market conditions and portfolio stress. • Liquidity and Solvency: Strong cash position of $309 million as of Q1 2025, down from over $500 million in Q4 2024. Debt-to-equity ratio of 2.37x with leverage ratio reduced to 2.8x. Company has access to a $1.1 billion repurchase facility with JPMorgan. • Credit Risk: Significant portfolio stress with $654 million in total delinquencies as of Q1 2025, though reduced from $819 million in Q4 2024. Expecting $400-500 million in REO (real estate owned) assets. CECL reserves have been built up but realized losses remain minimal at approximately $1.5 million to date. • Valuation Metrics: Trading at 0.74x book value and 13.7x P/E ratio as of Q1 2025. Dividend was reset to $0.30 per share quarterly (previously higher), suggesting management acknowledges earnings pressure. • Other Considerations: 67% of secured debt is in non-mark-to-market CLO vehicles, providing funding stability. However, earnings guidance of $0.30-0.35 per quarter for 2025 represents significant decline from historical levels. Business model remains highly sensitive to interest rates and real estate market conditions.
Recent development
Over the past few years, Arbor has undergone significant strategic repositioning in response to challenging market conditions. The company has substantially deleveraged its balance sheet, reducing leverage from over 4x to 2.8x and cutting commercial bank debt from $4.2 billion to $2.8 billion. In early 2025, management reset the dividend to $0.30 per share quarterly, acknowledging the need to preserve capital during the current cycle. Business diversification has been a key strategic focus. The company launched a construction lending platform, closing its first deals in 2024, and significantly expanded its single-family rental lending business, which has now originated over $5 billion in total loans. The Agency Business has been maintained as a stable fee-income generator, consistently producing $4-5 billion in annual originations. Portfolio management has become increasingly active, with the company modifying $4.1 billion in loans during 2024 alone. Management has been working to resolve non-performing loans through borrower recapitalization, modifications, and selective foreclosures. The company is building a substantial REO portfolio, expecting to reach $400-500 million in owned assets that it plans to reposition over 12-24 months to improve cash flows. Funding diversification has also been prioritized, with the company securing a $1.1 billion repurchase facility with JPMorgan and maintaining 67% of its secured debt in non-mark-to-market CLO structures to reduce funding volatility. These strategic moves position Arbor to weather the current downturn while preparing for eventual market recovery.
ABR company profile · for informational purposes only — not investment advice.
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