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ABR-PE

Arbor Realty Trust, Inc.

ABR-PE

Arbor Realty Trust, Inc. • NYSE
$17.16 ▼ -0.23% (-0.04)
Market Cap $3.30 B
52w High $19.00
52w Low $16.30
Dividend Yield 1.56%
P/E 8.13
Volume 2.57K
Outstanding Shares 128.24M

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 Q2-2024Q3-2024Q4-2024Q2-2025
Agency Business Segment
Agency Business Segment
 $10.00M ▲$10.00M ▲$30.00M ▲$50.00M ▲
Structured Transaction Business Segment
Structured Transaction Business Segment
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Arbor’s revenue has been fairly steady over the past few years, with only modest ups and downs, which is encouraging for a mortgage REIT. Profitability, however, shows more pressure: operating and net income were stronger in the middle of the period and have softened more recently. That pattern suggests rising funding costs, credit costs, or a less favorable lending mix are eating into profits even though overall activity levels are similar. Earnings per share peaked a few years ago and have since trended lower, pointing to some dilution of per‑share performance even as the business stays active. Overall, the income statement shows a durable franchise facing a tougher margin environment rather than a growth story firing on all cylinders.

Balance Sheet

Balance Sheet The balance sheet is sizable and still equity‑rich, with shareholders’ equity building over time, which indicates cumulative profitability. At the same time, total assets have come down from prior peaks, hinting at some balance‑sheet tightening or slower loan growth. Debt remains heavy relative to equity, which is typical for a mortgage REIT but means results are very sensitive to interest rates and credit conditions. Cash levels move around but remain a small slice of total assets, implying reliance on committed funding lines and capital markets rather than large cash buffers. In short, Arbor looks financially substantial but highly leveraged, so the quality of its loan book and funding relationships is crucial.

Cash Flow

Cash Flow Cash flow from operations is consistently positive over the full period but quite volatile from year to year, which is common for a lender that originates, sells, and securitizes loans. There are years with very strong cash inflow and others where operating cash is much thinner, reflecting changing deal volumes and market conditions. With virtually no capital spending needs, operating cash largely flows straight through to free cash flow, so swings in operating cash directly affect financial flexibility. This pattern underscores the importance of stable loan performance and ongoing access to financing, because internal cash generation alone may not be smooth or predictable.

Competitive Edge

Competitive Edge Arbor operates in a specialized niche of real estate finance, focused on multifamily and related segments, which gives it depth of expertise rather than a broad, generic footprint. Its dual model—agency lending and servicing on one side, higher‑yield structured lending on the other—creates both recurring fee income and higher‑margin opportunities, which is a meaningful competitive edge. A sizable servicing portfolio functions like an annuity, providing more stable fees even when new lending slows. Long‑standing relationships with borrowers and government‑sponsored entities strengthen its position and are hard for newer entrants to copy. The main competitive risks come from intense pricing pressure, real‑estate cycle swings, and the possibility that alternative lenders or capital‑markets platforms erode margins over time.

Innovation and R&D

Innovation and R&D Arbor stands out among mortgage REITs for its emphasis on technology and product innovation rather than just balance‑sheet scale. Its ALEX digital platform, early integration with Fannie Mae’s technology, and use of cloud and AI tools all aim to speed up underwriting, cut manual work, and improve risk assessment. On the product side, Arbor has pioneered structures like build‑to‑rent CLOs and built a broad menu of agency, bridge, construction, and single‑family rental financing, which helps it capture more of each client’s needs. Future efforts seem focused on expanding single‑family rental and construction lending, resolving legacy problem assets, and further enhancing its tech stack, all of which could support efficiency and resilience if executed well. The key uncertainty is how fast these innovations translate into sustainably better credit performance and earnings in a choppy real‑estate and rate environment.

Summary

Overall, Arbor Realty Trust looks like a specialized, innovation‑oriented mortgage REIT with a meaningful servicing franchise and a history of solid, though recently pressured, profitability. The income statement shows stable revenue but narrowing per‑share earnings, pointing to a tougher backdrop rather than structural weakness. The balance sheet is sizable and equity‑supported but highly leveraged, which magnifies both upside in good times and downside in stressed markets. Cash flows are positive but uneven, reflecting the realities of a transaction‑driven lending model. Its competitive position is reinforced by technology, product breadth, and deep agency relationships, yet it remains exposed to interest‑rate shifts and real‑estate credit cycles. For stakeholders in the preferred shares, the story hinges on Arbor’s ability to manage leverage, credit risk, and funding while continuing to extract value from its technology and servicing platform over time.