Arbor Realty Trust, Inc. (ABR) 10-Year Financial Performance & Capital Metrics

ABR • • REIT / Real Estate

Real EstateMortgage REITsCommercial Mortgage REITsDiversified Commercial Lenders

AboutArbor Realty Trust, Inc. invests in a diversified portfolio of structured finance assets in the multifamily, single-family rental, and commercial real estate markets in the United States. The company operates in two segments, Structured Business and Agency Business. It primarily invests in bridge and mezzanine loans, including junior participating interests in first mortgages, and preferred and direct equity, as well as real estate-related joint ventures, real estate-related notes, and various mortgage-related securities. The company offers bridge financing products to borrowers who seek short-term capital to be used in an acquisition of property; financing by making preferred equity investments in entities that directly or indirectly own real property; mezzanine financing in the form of loans that are subordinate to a conventional first mortgage loan and senior to the borrower's equity in a transaction; junior participation financing in the form of a junior participating interest in the senior debt; and financing products to borrowers who are looking to acquire conventional, workforce, and affordable single-family housing. Further, it underwrites, originates, sells, and services multifamily mortgage loans through conduit/commercial mortgage-backed securities programs. The company qualifies as a real estate investment trust for federal income tax purposes. It generally would not be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its stockholders. Arbor Realty Trust, Inc. was incorporated in 2003 and is headquartered in Uniondale, New York.Show more

Revenue $628M -12.7%
FFO $343M -22.9%
FFO/Share 1.67 -17.9%
FFO Payout 115.24% +34.5%
FFO per Share 1.67 -17.9%
NOI Margin 90.07% -2.2%
FFO Margin 54.6% -11.6%
ROE 8.26% -29.6%
ROA 1.81% -20.1%
Debt/Assets 74.45% +23.7%
Net Debt/EBITDA 20.67 +39.1%
Book Value/Share 15.34 +3.1%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong 5Y profit CAGR of 15.5%
✓High NOI margin of 90.1%
✓Share count reduced 6.1% through buybacks
✓Trading at only 0.5x book value

✗Weaknesses

✗High debt to equity ratio of 3.2x
✗FFO declining 36.5% TTM
✗Dividend exceeds FFO - may not be sustainable
✗Weak momentum: RS Rating 13 (bottom 13%)
✗Dividend payout exceeds 100% of earnings
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y20.98%

5Y11.04%

3Y-1.74%

TTM-43.34%

Profit (Net Income) CAGR

10Y11.02%

5Y15.52%

3Y-7.95%

TTM-38.04%

EPS CAGR

10Y-3.59%

5Y-1.46%

3Y-19.71%

TTM-40.77%

ROCE

10Y Avg3.95%

5Y Avg4.02%

3Y Avg3.4%

Latest3.04%

Peer Comparison

Diversified Commercial Lenders

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
ACRACRES Commercial Realty Corp.	150.01M	20.59	17.90	-8.39%	29.62%	7.27%	12.92%	3.13
NREFNexPoint Real Estate Finance, Inc.	263.17M	14.85	14.56	162.1%	57.58%	12.44%	11.13%	8.44
FBRTFranklin BSP Realty Trust, Inc.	836.47M	10.25	12.50	-3.62%	14.83%	5.54%	6.84%	2.84
TRTXTPG RE Finance Trust, Inc.	716.09M	9.15	11.88	302.62%	31.56%	6.15%	14.92%	2.31
ABRArbor Realty Trust, Inc.	1.61B	8.21	6.96	-12.72%	49.85%	5.9%	28.72%	3.19
RPTRithm Property Trust Inc.	123.34M	16.30	-7.12	380.09%	-17.24%	-2.24%	0.24%	2.93
ACREAres Commercial Real Estate Corporation	280.08M	5.09	-7.95	78.75%	-29.15%	-1.48%	12.69%	2.17
ARIApollo Commercial Real Estate Finance, Inc.	1.4B	10.09	-10.40	146.01%	23.05%	7.42%	2.19%	3.41

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Revenue+	88.4M	171.43M	272.88M	347.79M	371.81M	439.38M	661.48M	654.07M	719.01M	627.52M
Revenue Growth %	-0.05%	0.94%	0.59%	0.27%	0.07%	0.18%	0.51%	-0.01%	0.1%	-0.13%
Property Operating Expenses	32.63M	31.09M	41.22M	47.51M	50.55M	42.25M	46.29M	56.13M	57.16M	62.33M
Net Operating Income (NOI)+	-	-	-	-	-	-	-	-	-	-
NOI Margin %	-	-	-	-	-	-	-	-	-	-
Operating Expenses+	28.4M	51.25M	98.8M	110.47M	122.1M	144.38M	171.8M	161.82M	159.79M	181.69M
G&A Expenses	28.4M	51.25M	98.8M	110.47M	122.1M	144.38M	171.8M	161.82M	159.79M	181.69M
EBITDA+	32.81M	115.83M	187.45M	245.39M	255.35M	309.61M	509.22M	504.73M	574.9M	461.48M
EBITDA Margin %	-	-	-	-	-	-	-	-	-	-
Depreciation & Amortization+	5.44M	26.73M	54.59M	55.58M	56.19M	56.86M	65.83M	68.61M	72.84M	77.98M
D&A / Revenue %	-	-	-	-	-	-	-	-	-	-
Operating Income+	27.37M	89.1M	132.86M	189.81M	199.16M	252.75M	443.39M	436.12M	502.06M	383.5M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Interest Expense+	49.72M	63.62M	90.07M	153.82M	186.4M	169.22M	212M	557.62M	903.23M	804.62M
Interest Coverage	0.55x	1.40x	1.48x	1.23x	1.07x	1.49x	2.09x	0.78x	0.56x	0.48x
Non-Operating Income	-23.66M	-37.83M	-68.08M	-121.79M	-157.51M	-153.01M	-192.71M	-492.81M	-829.07M	-718.51M
Pretax Income+	53.43M	63.31M	110.87M	157.78M	170.27M	236.55M	424.09M	371.31M	427.9M	297.4M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	0	825K	13.36M	9.73M	15.04M	40.39M	46.28M	17.48M	27.35M	13.48M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	53.43M	50.35M	73.39M	115.87M	128.63M	170.95M	339.3M	325.78M	371.43M	264.64M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	-0.43%	-0.06%	0.46%	0.58%	0.11%	0.33%	0.98%	-0.04%	0.14%	-0.29%
Funds From Operations (FFO)+	-	-	-	-	-	-	-	-	-	-
FFO Margin %	-	-	-	-	-	-	-	-	-	-
FFO Growth %	-0.41%	0.31%	0.66%	0.34%	0.08%	0.23%	0.78%	-0.03%	0.13%	-0.23%
FFO per Share+	-	-	-	-	-	-	-	-	-	-
FFO Payout Ratio %	-	-	-	-	-	-	-	-	-	-
EPS (Diluted)+	0.90	0.83	1.12	1.50	1.27	1.41	2.28	1.67	1.75	1.18
EPS Growth %	-0.47%	-0.08%	0.35%	0.34%	-0.15%	0.11%	0.62%	-0.27%	0.05%	-0.33%
EPS (Basic)	0.90	0.83	1.14	1.54	1.30	1.44	2.30	1.72	1.79	1.18
Diluted Shares Outstanding	51.01M	73.5M	80.31M	93.64M	116.19M	133.97M	156.09M	199.11M	218.84M	205.53M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Assets+	1.83B	2.97B	3.63B	4.61B	6.24B	7.66B	15.07B	17.04B	15.74B	13.49B
Asset Growth %	-0.03%	0.63%	0.22%	0.27%	0.35%	0.23%	0.97%	0.13%	-0.08%	-0.14%
Real Estate & Other Assets+	1.6B	2.46B	3.1B	3.96B	137.57M	-655.22M	209.98M	261.44M	0	503.5M
PP&E (Net)	0	-2.97B	-3.63B	-4.61B	0	0	0	0	0	0
Investment Securities	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Total Current Assets+	199.4M	144.05M	104.37M	160.06M	5.32B	0	13.95B	15.93B	999.94M	12.15B
Cash & Equivalents	188.71M	138.65M	104.37M	160.06M	299.69M	339.53M	404.58M	534.36M	928.97M	503.8M
Receivables	1000K	0	688K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Assets	586.94K	0	0	0	1.08B	-351.98M	1.72B	1.25B	0	759.33M
Intangible Assets	0	227.74M	252.61M	273.77M	340.5M	428.8M	466.87M	440.91M	426.01M	400.17M
Total Liabilities	1.26B	2.22B	2.76B	3.55B	4.88B	6.18B	12.52B	13.97B	12.48B	10.34B
Total Debt+	1.17B	2.02B	2.53B	3.31B	4.7B	4.68B	12.15B	13.57B	9.47B	10.04B
Net Debt	984.48M	1.88B	2.43B	3.15B	4.4B	4.34B	11.75B	13.03B	8.55B	9.54B
Long-Term Debt	1.07B	1.19B	2.1B	2.26B	3.17B	3.68B	7.86B	9.79B	8.82B	6.55B
Short-Term Borrowings	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Capital Lease Obligations	0	89.51M	89.51M	89.5M	0	0	0	0	79.92M	69.14M
Total Current Liabilities+	54.48M	284.51M	299.06M	323.41M	1.53B	0	4.3B	3.77B	591.13M	3.44B
Accounts Payable	0	0	0	0	0	0	0	0	0	0
Deferred Revenue	0	0	0	0	0	0	0	0	0	0
Other Liabilities	-1.07B	-1.19B	-2.1B	-2.26B	178.95M	-3.68B	369.04M	400.41M	347.56M	294.48M
Total Equity+	565.09M	747.04M	864.56M	1.07B	1.36B	1.48B	2.55B	3.07B	3.25B	3.15B
Equity Growth %	0.06%	0.32%	0.16%	0.23%	0.27%	0.09%	0.72%	0.2%	0.06%	-0.03%
Shareholders Equity	565.09M	587.14M	695.83M	895.24M	1.18B	1.34B	2.42B	2.94B	3.12B	3.02B
Minority Interest	0	159.9M	168.73M	170.33M	171.42M	138.31M	131.86M	134.88M	136.63M	127.89M
Common Stock	509.63K	514.01K	617K	840K	1.1M	1.23M	1.51M	1.78M	1.89M	1.89M
Additional Paid-in Capital	616.24M	621.93M	707.45M	879.03M	1.15B	1.32B	1.8B	2.2B	2.37B	2.38B
Retained Earnings	-136.12M	-125.13M	-101.93M	-74.13M	-60.92M	-63.44M	62.53M	97.05M	115.22M	13.04M
Preferred Stock	89.3M	89.51M	89.51M	89.5M	89.5M	89.47M	556.16M	633.68M	633.68M	633.68M
Return on Assets (ROA)	0.03%	0.02%	0.02%	0.03%	0.02%	0.02%	0.03%	0.02%	0.02%	0.02%
Return on Equity (ROE)	0.1%	0.08%	0.09%	0.12%	0.11%	0.12%	0.17%	0.12%	0.12%	0.08%
Debt / Assets	0.64%	0.68%	0.7%	0.72%	0.75%	0.61%	0.81%	0.8%	0.6%	0.74%
Debt / Equity	2.08x	2.70x	2.93x	3.11x	3.47x	3.16x	4.77x	4.42x	2.91x	3.19x
Net Debt / EBITDA	30.01x	16.23x	12.95x	12.86x	17.25x	14.02x	23.08x	25.82x	14.87x	20.67x
Book Value per Share	11.08	10.16	10.77	11.38	11.67	11.07	16.34	15.43	14.87	15.34

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	36.35M	-197.62M	460.83M	-37.73M	-226.32M	55.16M	216.85M	1.1B	235.86M	461.52M
Operating CF Growth %	0.18%	-6.44%	3.33%	-1.08%	-5%	1.24%	2.93%	4.07%	-0.79%	0.96%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-	-
Net Income	53.43M	62.48M	97.51M	148.05M	128.63M	170.95M	377.81M	353.83M	400.56M	283.92M
Depreciation & Amortization	5.44M	26.73M	54.59M	55.58M	7.51M	7.64M	65.83M	68.61M	72.84M	9.55M
Stock-Based Compensation	3.44M	3.51M	4.84M	6.09M	0	0	9.93M	14.97M	14.94M	14.23M
Other Non-Cash Items	-17.6M	-278.64M	310.48M	-227.22M	-354.13M	-130.36M	-172.01M	734.57M	-170.79M	234.99M
Working Capital Changes	2.62M	-3.83M	822K	-8.21M	-8.33M	6.94M	-75.61M	-70.58M	-74.34M	-69.56M
Cash from Investing+	24.73M	-201.92M	-907.95M	-681.88M	-994.95M	-1.16B	-6.75B	-2.32B	1.88B	1.15B
Acquisitions (Net)	-37.85M	-68.36M	1.2M	367K	0	0	0	0	0	0
Purchase of Investments	-20.88M	-6.09M	-27.87M	-49.99M	-34M	-38.95M	-101.58M	-45.41M	-18.99M	0
Sale of Investments	1000K	1000K	460K	1000K	1000K	1000K	1000K	1000K	1000K	0
Other Investing	43.51M	-177.48M	-880.54M	-634.15M	-973.44M	-1.15B	-6.66B	-2.29B	1.89B	1.15B
Cash from Financing+	77.21M	349.47M	412.84M	816.51M	1.39B	1.13B	6.89B	1.57B	-1.83B	-2.49B
Dividends Paid	-37.06M	-39.37M	-50.18M	-75.65M	-115.42M	-149.37M	-227.06M	-321.74M	-380.64M	-394.84M
Common Dividends	-29.5M	-31.8M	-42.61M	-68.08M	0	0	-227.06M	-321.74M	-380.64M	-394.84M
Debt Issuance (Net)	-1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	-1000K	-1000K
Share Repurchases	0	0	0	-10.07M	-11.57M	-21.53M	-56.01M	-546K	-37.43M	-11.41M
Other Financing	174.26M	20.89M	-124.97M	337.76M	-28.7M	-40.23M	-79.39M	-58.55M	-8.36M	-25.8M
Net Change in Cash+	138.29M	-50.06M	-34.27M	96.9M	169.89M	26.44M	354.27M	356.89M	289.04M	-877.03M
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	50.42M	188.71M	138.65M	243.77M	340.67M	510.56M	537M	891.27M	1.25B	1.54B
Cash at End	188.71M	138.65M	104.37M	340.67M	510.56M	537M	891.27M	1.25B	1.54B	660.18M
Free Cash Flow+	74.2M	-149.18M	459.63M	-38.1M	-226.32M	55.16M	216.85M	1.1B	235.86M	461.52M
FCF Growth %	0.55%	-3.01%	4.08%	-1.08%	-4.94%	1.24%	2.93%	4.07%	-0.79%	0.96%
FCF / Revenue %	-	-	-	-	-	-	-	-	-	-

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
FFO per Share	1.15	1.05	1.59	1.83	1.59	1.7	2.6	1.98	2.03	1.67
FFO Payout Ratio	50.11%	41.25%	33.3%	39.71%	62.45%	65.57%	56.05%	81.58%	85.68%	115.24%
NOI Margin	63.09%	81.87%	84.89%	86.34%	86.4%	90.39%	93%	91.42%	92.05%	90.07%
Net Debt / EBITDA	30.01x	16.23x	12.95x	12.86x	17.25x	14.02x	23.08x	25.82x	14.87x	20.67x
Debt / Assets	64.2%	67.93%	69.81%	71.87%	75.4%	61.1%	80.64%	79.62%	60.2%	74.45%
Interest Coverage	0.55x	1.40x	1.48x	1.23x	1.07x	1.49x	2.09x	0.78x	0.56x	0.48x
Book Value / Share	11.08	10.16	10.77	11.38	11.67	11.07	16.34	15.43	14.87	15.34
Revenue Growth	-5.36%	93.93%	59.17%	27.45%	6.91%	18.17%	50.55%	-1.12%	9.93%	-12.72%

Revenue by Segment

	2016	2017	2018	2019	2020	2021	2022	2023	2024
Agency Business	44.94M	76.82M	98.84M	90.76M	165.52M	-	69.35M	69.91M	51.27M
Agency Business Growth	-	70.94%	28.66%	-8.17%	82.37%	-	-	0.82%	-26.66%
Structured Transaction Business	14.88M	10.97M	10.1M	-	-	-	-	-	-
Structured Transaction Business Growth	-	-26.26%	-8.00%	-	-	-	-	-	-
Agency Business	-	-	-	-	-	130.23M	-	-	-
Agency Business Growth	-	-	-	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

Arbor Realty Trust, Inc. (ABR) has a price-to-earnings (P/E) ratio of 7.0x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Arbor Realty Trust, Inc. (ABR) reported $368.5M in revenue for fiscal year 2024. This represents a 854% increase from $38.6M in 2011.

Arbor Realty Trust, Inc. (ABR) saw revenue decline by 12.7% over the past year.

Yes, Arbor Realty Trust, Inc. (ABR) is profitable, generating $183.7M in net income for fiscal year 2024 (42.2% net margin).

Dividend & Returns

Yes, Arbor Realty Trust, Inc. (ABR) pays a dividend with a yield of 23.40%. This makes it attractive for income-focused investors.

Arbor Realty Trust, Inc. (ABR) has a return on equity (ROE) of 8.3%. This is below average, suggesting room for improvement.

Industry Metrics

Arbor Realty Trust, Inc. (ABR) generated Funds From Operations (FFO) of $236.6M in the trailing twelve months. FFO is the primary profitability metric for REITs.

Arbor Realty Trust, Inc. (ABR) offers a 23.40% dividend yield, which is attractive for income investors. REITs are required to distribute at least 90% of taxable income to shareholders.

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