Wedbush initiates coverage of Arbor Realty Trust amid optimism for supply demand for multi-family and single-family rentals

Wedbush Research on Friday initiated coverage of Arbor Realty Trust Inc. (ABR), an investor in multi-family and single-family rental properties, with an outperform rating and $15 price target. Wedbush analyst Jay McCanless said Arbor Realty Trust offers a stable earnings stream and an attractive dividend yield. "In the near term, we are focused on the potential impact from higher multifamily deliveries and trends in both rental rate appreciation and employment levels," McCanless said. Long term, Wedbush remains optimistic about the "continued ability of the market to absorb new singlefamily rental and multifamily rental housing supply." As a commercial real estate investment trust, Arbor Realty originates loans for rental properties, as well as originates bridge loans and other structured finance facilities and holds them for investment. Arbor Realty Trust stock is up 0.9% in premarket trades on Friday.

-Steve Gelsi

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06-02-23 0740ET

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