Arbor Realty Trust posts Q3 loss, suspends dividend
ABR•Arbor Realty Trust reported a Q3 loss per share of $0.51 and revenue of $56.4 million, and suspended its quarterly common stock dividend. The company recorded a $53 million loan-loss provision and $34.1 million in real estate impairments.
1. Quarterly results
Arbor Realty Trust reported a Q3 net loss, with a loss per share of $0.51, revenue of $56.4 million and net interest income of $37.67 million. The company recorded a $53 million net provision for loan losses, citing additional delinquencies and rate modifications, and $34.1 million in impairments on six real estate owned properties.
2. Dividend suspended
The company suspended its quarterly cash dividend on common stock to preserve capital and maintain financial flexibility. It will continue to evaluate its dividend policy based on market conditions and company performance.
