Realty investment company posts $40M annual loss
Arbor Realty Trust Credit: Handout
Uniondale-based Arbor Realty Trust Inc., which specializes in real estate-related loan investments, reports a loss for the year ended Dec. 31 of $40.3 million, or $1.61 per diluted common share.
That compares to a 2010 profit of $112.9 million, or $4.39 per diluted common share, Arbor said in its annual report, issued Friday.
Arbor's shares were unchanged, at $4.75, in light trading early Friday. Its price has ranged from $3.19-$6.85 over the past 52 weeks
The real estate investment trust focuses its investments on real estate-related bridge and mezzanine loans, equity investments, mortgage-related securities and related assets.
In its report, Arbor highlighted some achievements during 2011, saying it:
• Originated 30 new loans totaling $206.5 million
• Bought eight mortgage-backed securities totaling $36.4 million
• Authorized two stock repurchase plans totaling up to 2 million shares and repurchased 1.5 million of those shares in 2011.
-------------------
Read more of Inside Long Island Business
Remembering 9/11: Where things stand now As we remember those we lost on 9/11, we're looking at the ongoing battle to secure long term protection for first responders and the latest twists and turns in the cases of the accused terrorists.
Remembering 9/11: Where things stand now As we remember those we lost on 9/11, we're looking at the ongoing battle to secure long term protection for first responders and the latest twists and turns in the cases of the accused terrorists.
