Arbor Realty Trust, Inc. Buyback
OLI recorded this information on 3/17/2020
Arbor Realty Trust, Inc.
Arbor Realty Trust, Inc. (NYSE: ABR), today announced that its Board of Directors has approved a share repurchase program authorizing the Company to repurchase up to $100 million of its outstanding common stock. At management's discretion, the shares may be acquired from time to time in the open market, through privately negotiated transactions or otherwise in compliance with Rule 10b-18 and Rule 10b5-1 under the Securities Exchange Act of 1934. The Board of Directors also authorized the Company to establish Rule 10b5-1 trading plans that permit the Company to repurchase its outstanding shares at times when it might otherwise be prevented from doing so.
Arbor Realty Trust is a real estate investment trust. Co. operates through two business segments: its Structured Loan Origination and Investment Business (Structured Business) and its Agency Loan Origination and Servicing Business (Agency Business). Through its Structured Business, Co. invests in a portfolio of structured finance assets in the multifamily, single-family rental and commercial real estate markets, primarily consisting of bridge and mezzanine loans, including junior participating interests in first mortgages, preferred and direct equity. Through its Agency Business, Co. originates, sells and services a range of multifamily finance products.
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Strong Buy (3.50 out of 4)