Arbor Realty Trust: Q3 Earnings Snapshot
UNIONDALE, N.Y. (AP) — UNIONDALE, N.Y. (AP) — Arbor Realty Trust (ABR) on Friday reported third-quarter profit of $88.3 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, were 55 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 48 cents per share.
The real estate investment trust posted revenue of $336.5 million in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $327.9 million.
Arbor Realty Trust shares have decreased almost 3% since the beginning of the year. The stock has dropped 3% in the last 12 months.
_____
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
