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.

About the Author

Most Popular Articles

Housing market flashing recession signal

The housing market is signaling there will be an economic recession by the 2020 election, according to Benn Steil, director of international economics at the Council on Foreign Relations. “When income fails to keep pace with home prices, the latter must fall back,” the post said. “Falling home prices, in turn, drive down household spending.”

Oct 11, 2019 By

Latest Articles

CoreLogic: California home sales see worst August in 4 years

Last month, the California Association of Realtors predicted a slow down for the state’s housing market in 2020. According to a recent report by CoreLogic, cooling home sales are already here. In fact, August marked the fewest home sales for that month in four years.

Oct 14, 2019 By