Arbor Realty Trust Inc. (ABR) narrowed its fourth-quarter loss, as the real estate investment trust originated 14 new loans and acquired six mortgage-backed securities valued at $31.8 million. 

The Uniondale, N.Y.-based REIT, which invests in bridge and mezzanine loans as well as preferred and direct investments and mortgage-related securities, reported a loss of $27.8 million, or $1.15 a share, for the three months ended Dec. 31, compared to a loss of $41.1 million, or $1.62 a share, a year earlier. 

For 2011, Arbor Realty reported a loss of $40.3 million, or $1.61 a share, compared to earnings of $112.9 million, or $4.39 a share, a year earlier.

During the fourth quarter, the REIT recorded $20.4 million in loan loss reserves and $4.7 million from a loss on the sale of a loan. 

The average balance of the company's loan and investment portfolio hit $1.6 billion during the fourth quarter and the average yield on the assets for the quarter hit 4.69%, compared to a yield of 4.61% in the third quarter. 

kpanchuk@housingwire.com