Arbor Realty Trust: Q2 Earnings Snapshot
UNIONDALE, N.Y. (AP) — UNIONDALE, N.Y. (AP) — Arbor Realty Trust (ABR) on Friday reported second-quarter profit of $86.5 million.
On a per-share basis, the Uniondale, New York-based company said it had profit of 41 cents. Earnings, adjusted for amortization costs and non-recurring costs, came to 57 cents per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 47 cents per share.
The real estate investment trust posted revenue of $335.7 million in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $315.9 million.
Arbor Realty Trust shares have increased 22% since the beginning of the year. The stock has risen nearly 2% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ABR at https://www.zacks.com/ap/ABR
