Arbor Realty Trust
Finances multifamily real estate through structured loans and agency origination channels.
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Profile
Originates and services multifamily loans through Fannie Mae, Freddie Mac, and FHA/HUD channels while holding structured real estate credit on its balance sheet. The model links bridge lending, agency execution, and servicing income, with performance tied to credit quality, funding costs, and access to government-sponsored lending programs.
Operates a two-part mortgage REIT model focused on multifamily and related rental housing finance. Structured Business holds balance-sheet bridge loans and other real estate credit, including mezzanine, preferred equity, single-family rental, CMBS, and construction-related products.
Agency Business originates, sells, and services loans through Fannie Mae DUS, Freddie Mac Optigo, FHA/HUD, affordable housing, and private-label channels. Activity is concentrated in the United States, with a national lending and servicing platform built around borrower relationships and agency execution.
Execution depends on credit performance, borrower refinancing or property exits, funding costs, and continued access to agency programs. Recent public scrutiny has centered on lending practices and loan-book performance claims, while the business remains shaped by regulated government-sponsored channels.
Company facts
Categories
Key statistics
Year to date −36.4% · Average volume (30d) 3.9M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 3, 2026 | Piper Sandler | Reiterate | Underweight | $5.50 | $5 | |
| Jul 17, 2026 | JP Morgan | Upgrade | Underweight | Neutral | ||
| Jul 2, 2026 | Piper Sandler | Reiterate | Underweight | $8 | $5.50 | |
| Dec 22, 2025 | Piper Sandler | Reiterate | Underweight | $10 | $8 | |
| Dec 15, 2025 | Keefe, Bruyette & Woods | Downgrade | Market Perform | Underperform |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 31, 2026Q2 FY26 | $0.05 | $0.10 | +100.0% | $107.7M | $115.9M | +7.5% | +4.59% |
| May 8, 2026Q1 FY26 | $0.16 | $0.18 | +12.5% | $109.9M | $117.4M | +6.9% | −7.63% |
| Feb 27, 2026Q4 FY25 | $0.17 | $0.22 | +26.4% | $119.1M | $133.4M | +12.0% | +8.32% |
| Oct 31, 2025Q3 FY25 | $0.23 | $0.35 | +50.9% | $154.5M | $112.4M | −27.2% | −2.78% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $144.9M | $301.8M | $299.4M | $313.8M | $293.1M | $292.6M | |
| Gross profit | $125.1M | $283.3M | $281.4M | $286.9M | $266.9M | $268.1M | |
| Operating income | $79.1M | $229.1M | $218.4M | $227.3M | $204.4M | $200.6M | |
| Net income | $40.8M | $34.3M | $48.8M | $24.9M | $11.0M | −$27.0M | |
| Diluted EPS | $0.16 | $0.13 | $0.20 | $0.07 | $0.06 | −$0.20 | |
| Gross margin | 86.3% | 93.9% | 94.0% | 91.4% | 91.1% | 91.6% | |
| Operating margin | 54.6% | 75.9% | 72.9% | 72.4% | 69.7% | 68.6% |
Fiscal years (4-quarter sums)FY21 $661.5M · FY22 $654.1M · FY23 $719.0M · FY24 $627.5M · FY25 $1.06B
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $287.5M · Total debt $11.09B · Total assets $14.35B · Shareholders' equity $2.78B
Dividends
Last cut to $0.17 from $0.30 in May 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 14, 2026 | Aug 14 | Aug 28 | $0.17 | |
| May 22, 2026 | May 22 | Jun 5 | $0.17 | cut from $0.30 |
| Mar 10, 2026 | Mar 10 | Mar 24 | $0.30 | |
| Nov 14, 2025 | Nov 14 | Nov 26 | $0.30 | |
| Aug 15, 2025 | Aug 15 | Aug 29 | $0.30 | |
| May 16, 2025 | May 16 | May 30 | $0.30 | cut from $0.43 |
| Mar 7, 2025 | Mar 7 | Mar 21 | $0.43 | |
| Nov 15, 2024 | Nov 15 | Nov 27 | $0.43 |
Ownership
Shares outstanding 192.36M · Float 184.32M · 95.8% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 26.47M | 13.76% | 13F | Aug 7, 2026 |
| Arbor Commercial Mortgage, LLC | 13.02M | 6.20% | 13G | Feb 13, 2026 |
| Vanguard Portfolio Management LLC | 9.94M | 5.16% | 13F | Aug 13, 2026 |
| Vanguard Capital Management | 9.78M | 5.08% | 13G | Jul 31, 2026 |
| State Street Corp | 7.80M | 4.06% | 13F | Aug 7, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 5, 2026 | Ivan Kaufman | director, officer: COB, CEO and President | +750,000 | |
| Aug 5, 2026 | John Natalone | director, officer: EVP | −750,000 | |
| Jun 4, 2026 | George Tsunis | director | −26,700 | $5.57 |
| Jun 4, 2026 | George Tsunis | director | +26,700 | $5.58 |
| May 26, 2026 | George Tsunis | director | +1,000 | $5.51 |
Peers
- Starwood Property Trust
Broad CRE lending peer across bridge, mezzanine, preferred equity and CMBS
- Walker & Dunlop
Agency multifamily origination and servicing peer
- Blackstone Mortgage Trust
Large senior CRE lender competing for floating-rate bridge loans
- KKR Real Estate Finance Trust
Senior transitional CRE lender with multifamily exposure
- Ladder Capital
Middle-market CRE finance peer across loans, conduit and CMBS
- TPG RE Finance Trust
First-mortgage CRE lender focused on institutional US properties
- Ares Commercial Real Estate
Smaller CRE credit peer for senior mortgage loans
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Arbor Realty Trust | $5.06 | 0.00% | $973.3M | 37.4 | 12.0 | 0.8 | −11.1% |
| Starwood Property Trust | $15.85 | +0.27% | $5.86B | 23.2 | 9.4 | 2.9 | +7.9% |
| Walker & Dunlop | $41.78 | +1.04% | $1.42B | 36.9 | 12.2 | 1.1 | +3.5% |
| Blackstone Mortgage Trust | $13.75 | +0.18% | $2.31B | 171.6 | 10.9 | 1.5 | +18.1% |
| KKR Real Estate Finance Trust | $7.59 | +0.20% | $488.0M | — | — | 1.2 | −82.3% |
| Ladder Capital | $9.82 | +0.10% | $1.25B | 23.4 | 9.0 | 3.3 | −40.9% |
| TPG RE Finance Trust | $7.73 | −0.06% | $593.4M | 14.3 | 7.2 | 2.2 | −58.7% |
| Ares Commercial Real Estate | $4.65 | +0.11% | $258.0M | — | 50.3 | 2.6 | — |
| Median | 23.4 | 10.2 | 2.2 | −18.7% |