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ABR-PD

Arbor Realty Trust, Inc.

ABR-PD

Arbor Realty Trust, Inc. • NYSE
$17.75 ▲ 0.97% (+0.17)
Market Cap $3.41 B
52w High $19.50
52w Low $16.75
Dividend Yield 1.59%
P/E 8.4
Volume 4.73K
Outstanding Shares 128.45M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $29.652M ▲ $-18.706M ▼ $38.463M ▲ 129.715% ▲ $0.2 ▲ $204.051M ▼
Q2-2025 $27.437M ▼ $41.181M ▼ $34.294M ▼ 124.992% ▲ $0.12 ▼ $234.931M ▲
Q1-2025 $144.918M ▼ $46.036M ▼ $40.78M ▼ 28.14% ▼ $0.16 ▼ $233.726M ▼
Q4-2024 $166.487M ▲ $46.283M ▲ $70.169M ▲ 42.147% ▼ $0.32 ▲ $276.305M ▼
Q3-2024 $158.812M $44.881M $68.517M 43.143% $0.31 $295.73M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $423.384M ▲ $13.887B ▲ $10.772B ▲ $2.997B ▲
Q2-2025 $255.742M ▼ $13.563B ▲ $10.469B ▲ $2.975B ▼
Q1-2025 $308.842M ▼ $13.367B ▼ $10.238B ▼ $3.008B ▼
Q4-2024 $503.898M ▼ $13.491B ▼ $10.339B ▼ $3.024B ▼
Q3-2024 $687.54M $13.881B $10.718B $3.034B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $52.017M ▲ $178.729M ▲ $-205.522M ▲ $226.451M ▲ $199.658M ▲ $178.729M ▲
Q2-2025 $36.308M ▼ $60.049M ▼ $-207.307M ▲ $144.539M ▲ $-2.719M ▲ $60.049M ▼
Q1-2025 $43.382M ▼ $150.548M ▲ $-314.818M ▼ $-146.504M ▲ $-310.774M ▼ $150.548M ▲
Q4-2024 $75.328M ▲ $46.672M ▼ $205.627M ▼ $-459.566M ▼ $-207.267M ▼ $46.672M ▼
Q3-2024 $73.547M $84.957M $228.149M $-401.373M $-88.267M $84.957M

Revenue by Products

Product Q4-2023Q2-2024Q3-2024Q4-2024
Agency Business Segment
Agency Business Segment
 $40.00M ▲$10.00M ▼$10.00M ▲$40.00M ▲
Structured Transaction Business Segment
Structured Transaction Business Segment
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Arbor’s income statement shows a business that has been steadily profitable, but not in a straight line. Revenue has grown meaningfully from pre‑pandemic levels and then flattened out more recently. Profitability remains solid, with healthy spreads between revenue and operating costs, which is important for a mortgage REIT. Net income and earnings per share climbed strongly coming out of 2020, peaked, and have eased back more recently, suggesting that the easy part of the post‑pandemic growth phase may be behind them. Overall, the company looks consistently profitable, but with earnings now more sensitive to the interest‑rate and credit environment than to simple growth in volume.

Balance Sheet

Balance Sheet The balance sheet reflects a classic mortgage REIT profile: large loan and investment balances funded largely with debt, supported by a modest but growing equity base. Assets expanded quickly over the last several years and have since pulled back slightly, which looks like a move from rapid expansion toward more measured growth. Debt levels are high relative to equity, which is normal for this type of business but leaves less room for error if credit quality or funding costs worsen. Cash on hand is small compared with the overall balance sheet but has generally improved from pre‑pandemic levels, giving a bit more financial flexibility, though liquidity management remains a key ongoing risk to watch.

Cash Flow

Cash Flow Cash flow has been positive but quite lumpy, which is typical for a lender. Operating cash flow was very strong in one recent year and more modest in others, reflecting shifts in loan originations, repayments, and securitizations rather than a simple up‑or‑down business trend. Because the company is not capital‑intensive in the traditional sense, there is essentially no spending on physical assets, so operating cash flow largely translates into free cash flow. The main takeaway is that Arbor can generate cash, but the timing is irregular, and cash flows will naturally swing with credit cycles and capital markets conditions.

Competitive Edge

Competitive Edge Arbor’s competitive position is built around specialization, relationships, and technology rather than sheer size. It has carved out a strong niche in multifamily and single‑family rental lending, particularly in smaller and mid‑sized deals where expertise and service matter. Its long‑standing relationships with Fannie Mae and Freddie Mac, and its role as a key lender and servicer for them, create recurring fee income and a steady flow of business that many competitors lack. The “two‑engine” model—combining higher‑yield structured lending with steadier agency and servicing income—adds resilience across cycles. The main vulnerabilities lie in its dependence on capital markets, interest‑rate spreads, and the health of rental housing fundamentals, which can tighten conditions even for strong niche players.

Innovation and R&D

Innovation and R&D While Arbor doesn’t do R&D in a laboratory sense, it has been quite active in technological and product innovation. Its ALEX platform automates and digitizes much of the lending process, making it faster and more transparent for borrowers and intermediaries. Early adoption of interfaces with Fannie Mae’s systems and recognition for technology excellence suggest real operational advantages, not just marketing. On the product side, Arbor has developed a broad toolkit of loan structures and has leaned into the growth of the single‑family rental and build‑to‑rent segments with a dedicated platform. Looking ahead, continued investment in data, automation, and niche offerings like affordable and workforce housing finance appear to be the main innovation themes, which could deepen its moat if executed well.

Summary

Overall, Arbor Realty Trust appears to be a specialized, consistently profitable mortgage REIT with a lot of leverage, meaningful but volatile cash generation, and a clear strategic niche in multifamily and single‑family rental finance. Its strengths come from its dual‑segment business model, recurring servicing income, tight relationships with the housing agencies, and a credible track record of using technology to streamline lending. Its main risks center on high leverage, reliance on wholesale and securitization markets, and exposure to real estate and credit cycles. For a preferred share like ABR‑PD, the health of the common equity, the durability of earnings, and the company’s ability to manage funding and credit risk through different environments are the key elements to keep monitoring.