Arbor Realty Trust Announces $50 Million Share Repurchase Program
17 März 2023 - 10:13PM
Arbor Realty Trust, Inc. (NYSE: ABR), today announced that its
Board of Directors has approved a share repurchase program
authorizing the Company to repurchase up to $50 million of its
outstanding common stock. At management's discretion, the shares
may be acquired 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 Board of Directors also authorized the Company to
establish Rule 10b5-1 trading plans that permit the Company 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, in particular, due to the severity and
duration of the COVID-19 pandemic, 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
516-506-4422pelenio@arbor.com |
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