Piper Sandler double downgraded Arbor Realty to Underweight from Overweight with an unchanged price target of $16. Arbor posted an earnings beat and raised its dividend, but the company saw a sizable increase in nonperforming loans, the analyst tells investors in a research note. The firm now has increasingly cautious outlook over the next several quarters following the post-earnings share rally. It believes Arbor’s valuation premium has become too rich in the current rate environment and potential for credit worsening.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on ABR:
- Arbor Realty Trust Reports Second Quarter 2023 Results and Increases Quarterly Dividend to $0.43 per Share
- Arbor Realty raises quarterly dividend 2% to 43c per share
- Arbor Realty reports Q2 distributable EPS 57c, consensus 44c
- Arbor Realty put volume heavy and directionally bearish
- ABR Upcoming Earnings Report: What to Expect?