Arbor Realty Trust 3Q loss deepens

Arbor Realty Trust Inc. (ABR) posted a third-quarter loss of $2.4 million, or 10 cents per share, compared to a loss of $1.4 million, or 6 cents per share, for the same quarter a year earlier. The real estate investment trust invests in real estate-related bridge and mezzanine loans and mortgage-related securities as well as other real estate assets. The balance of Arbor’s loan and investment portfolio during the third quarter was approximately $1.6 billion, while its average yield on those assets hit 4.61%. Comparatively, the company’s loan and investment portfolio balance was at the same level in the second quarter with an average yield on those assets of 4.64%.

In August, mortgage REITs’ stocks slumped in the wake of the Standard & Poor’s downgrade of the U.S. credit rating. During that late summer stock slide, Arbor Realty Trust, which is based in Uniondale, N.Y., fell 7.9% as pessimism slammed the REIT segment.

Write to Kerri Panchuk.

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