Arbor Realty Trust ( NYSE: ABR ) stock advanced 2.4% in Friday premarket trading after the mortgage REIT's fourth-quarter earnings topped Wall Street expectations and rose both from the prior quarter and from a year ago.
Q4 distributable EPS of $0.60, surpassing the $0.46 average analyst estimate, increased from $0.56 in Q3 and from $0.57 in the year-earlier period.
Net interest income was $133.06M for the quarter ended Dec. 31, 2022, up from $99.3M for the quarter ended Sept. 30, 2022, and from $76.43M for the quarter ended Dec. 31, 2021.
Structured Business total originations fell to $500.53B from $774.67B in Q3. The average balance of Arbor's ( ABR ) loan and investment portfolio, excluding loan loss reserves, was $14.83B with a weighted average yield of 8.12%, vs. $15.01B and 6.57% for Q3. The rise in average yield was mostly due to increases in the benchmark index rates as well as from back interest received upon the payoff of a non-performing loan.
Agency Business loan originations totaled $1.55B in Q4, up from $1.11B in Q3. The segment generated revenues of $95.9M compared with $43.1M in Q3.
Fee-based servicing portfolio stood at around $28B at Dec. 31, 2022, versus $27.07B at Sept. 30, 2022.
Conference call at 10:00 a.m. ET.
Earlier, Arbor Realty trust Non-GAAP EPS of $0.60 beats by $0.14, revenue of $113.06M beats by $21.54M .
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Arbor Realty Trust Q4 earnings exceed consensus as NII climbs