Arbor Realty price target raised to $16.50 from $16 at JMP Securities

JMP Securities raised the firm’s price target on Arbor Realty to $16.50 from $16 and keeps an Outperform rating on the shares following the Q2 results and the firm’s review of the filed Form 10-Q. Arbor continues to modify underperforming bridge loans at a steady pace with borrowers generally contributing additional equity in exchange for maturity extensions and/or rate relief, and while elevated interest rates have been the biggest recent headwind to commercial real estate property valuations, the Fed’s next easing cycle has now begun with a 50 basis point cut on September 18, the analyst tells investors in a research note.