Arbor Realty Trust Posts $82.4 Million Q3 Loss, Misses Analyst Estimates

Arbor Realty Trust (ABR) reported a third-quarter loss of $82.4 million on Friday, reversing a profit from the same period a year earlier. The loss amounted to 51 cents per share, with adjusted losses of 4 cents per share. The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 6 cents per share. The Uniondale, New York-based real estate investment trust posted revenue of $221.9 million, also missing Street forecasts of $227.4 million. Shares closed at $3.02, down sharply from $11.54 a year ago.