Arbor Realty price target lowered to $16 from $17 at JMP Securities

JMP Securities lowered the firm’s price target on Arbor Realty to $16 from $17 and keeps an Outperform rating on the shares following the Q1 results. Arbor has been able to successfully modify a significant portion of delinquent multifamily bridge loans, the majority of which with capital infusions from the borrowers that received such modifications, highlighting the general strength of the multifamily property market and of Arbor’s borrowers, who appear to be broadly willing to defend their investments with new equity contributions, the analyst tells investors in a research note.