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Strong Buy
Adjusted book value per share $14.04, GAAP book value per share $9.21 (1)Arbor Realty Trust Reports Third Quarter 2010 Results 8:00a ET November 5, 2010 (PR NewsWire)
Third Quarter Highlights: Net loss attributable to Arbor Realty Trust, Inc. of $1.4 million, or $0.06 per diluted common share Adjusted book value per share $14.04, GAAP book value per share $9.21 (1) Generated gains of $11.8 million from the retirement of CDO debt Recorded $15.2 million in loan loss reserves and $5.4 million from losses on restructured loans Recovered $3.8 million of previously recorded loan loss reserves Repaid $26.0 million term debt facility in October Arbor Realty Trust, Inc. (NYSE: ABR), a real estate investment trust focused on the business of investing in real estate-related bridge and mezzanine loans, preferred and direct equity investments, mortgage-related securities and other real estate-related assets, today announced financial results for the third quarter ended September 30, 2010. Arbor reported net loss attributable to Arbor Realty Trust, Inc. for the quarter of $1.4 million, or $0.06 per diluted common share, compared to net loss attributable to Arbor Realty Trust, Inc. for the quarter ended September 30, 2009 of $44.1 million, or $1.74 per diluted common share. Net income attributable to Arbor Realty Trust, Inc. for the nine months ended September 30, 2010 was $154.1 million, or $6.03 per diluted common share, compared to net loss attributable to Arbor Realty Trust, Inc. for the nine months ended September 30, 2009 of $96.9 million, or $3.83 per diluted common share.
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