Arbor Realty Trust Announces an Increase of its Share Repurchase Program to $150 Million

Rhea-AI Summary

Arbor Realty Trust, Inc. (NYSE: ABR) has approved an increase to its share repurchase program, allowing the company to repurchase up to $150 million of its outstanding common stock. The program enables repurchases through various methods, including open market transactions and privately negotiated deals. The company has the flexibility to establish trading plans and is not obligated to acquire a specific amount of shares. The timing and amount of repurchases will depend on factors such as stock performance, market conditions, legal requirements, and other considerations.

UNIONDALE, N.Y., Dec. 11, 2023 (GLOBE NEWSWIRE) -- Arbor Realty Trust, Inc. (NYSE: ABR), today announced that its Board of Directors has approved an increase to the Company’s share repurchase program authorizing the Company to repurchase up to $150 million of its outstanding common stock. The share repurchase program allows shares to be repurchased at management's discretion from time to time in the open market, through privately negotiated transactions or otherwise in compliance with Rule 10b-18 and Rule 10b5-1 under the Securities Exchange Act of 1934. The share repurchase program also permits the Company to establish Rule 10b5-1 trading plans to repurchase its outstanding shares at times when it might otherwise be prevented from doing so.

This share repurchase program does not obligate the Company to acquire any particular amount of its outstanding shares and the timing and exact amount of repurchases will depend on various factors, including the performance of the Company’s stock price, general market and other conditions, applicable legal requirements and other factors. This share repurchase program has no time limit and may be suspended, modified or discontinued at any time.

About Arbor Realty Trust, Inc.

Arbor Realty Trust, Inc. (NYSE: ABR) is a nationwide real estate investment trust and direct lender, providing loan origination and servicing for multifamily, single-family rental (SFR) portfolios, and other diverse commercial real estate assets. Headquartered in New York, Arbor manages a multibillion-dollar servicing portfolio, specializing in government-sponsored enterprise products. Arbor is a leading Fannie Mae DUS® lender and Freddie Mac Optigo® Seller/Servicer, and an approved FHA Multifamily Accelerated Processing (MAP) lender. Arbor’s product platform also includes bridge, CMBS, mezzanine and preferred equity loans. Rated by Standard and Poor’s and Fitch Ratings, Arbor is committed to building on its reputation for service, quality, and customized solutions with an unparalleled dedication to providing our clients excellence over the entire life of a loan.

Safe Harbor Statement

Certain items in this press release may constitute forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on management’s current expectations and beliefs and are subject to a number of trends and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Arbor can give no assurance that its expectations will be attained. Factors that could cause actual results to differ materially from Arbor’s expectations include, but are not limited to, changes in economic conditions generally, and the real estate markets specifically, continued ability to source new investments, changes in interest rates and/or credit spreads, and other risks detailed in Arbor’s Annual Report on Form 10-K for the year ended December 31, 2022 and its other reports filed with the SEC. Such forward-looking statements speak only as of the date of this press release. Arbor expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Arbor’s expectations with regard thereto or change in events, conditions, or circumstances on which any such statement is based.

Contact:
Arbor Realty Trust, Inc.
Paul Elenio, Chief Financial Officer
516-506-4422
pelenio@arbor.com 

FAQ

What did Arbor Realty Trust announce?

Arbor Realty Trust, Inc. (NYSE: ABR) announced an increase to its share repurchase program, authorizing the repurchase of up to $150 million of its outstanding common stock.

How will Arbor Realty Trust repurchase its shares?

Arbor Realty Trust can repurchase shares through open market transactions, privately negotiated deals, or by establishing Rule 10b5-1 trading plans.

Is Arbor Realty Trust obligated to acquire a specific amount of shares?

No, the company is not obligated to acquire any particular amount of its outstanding shares.

What factors will determine the timing and amount of share repurchases?

The timing and exact amount of repurchases will depend on factors such as the performance of the Company’s stock price, general market and other conditions, applicable legal requirements, and other factors.

Can the share repurchase program be suspended or discontinued?

Yes, the share repurchase program has no time limit and may be suspended, modified, or discontinued at any time.