Arbor Realty Trust Announces $100 Million Share Repurchase Program
March 17 2020 - 4:10PM
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 $100 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, seniors
housing, healthcare 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 Fannie Mae
DUS® lender and Freddie Mac Optigo Seller/Servicer. Arbor’s product
platform also includes CMBS, bridge, mezzanine and preferred equity
lending. 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, continued
ability to source new investments, changes in interest rates and/or
credit spreads, changes in the real estate markets, and other risks
detailed in Arbor’s Annual Report on Form 10-K for the year ended
December 31, 2019 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.
Contacts:Arbor Realty Trust, Inc.Paul Elenio, Chief Financial
Officer 516-506-4422pelenio@arbor.com |
Investors:The Ruth GroupAlexander
Lobo646-536-7037alobo@theruthgroup.com |
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Media:Bonnie Habyan, Chief Marketing
Officer516-506-4615bhabyan@arbor.com |
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