UNIONDALE, N.Y. (AP) — UNIONDALE, N.Y. (AP) — Arbor Realty Trust (ABR) on Friday reported fourth-quarter net income of $98.5 million.
On a per-share basis, the Uniondale, New York-based company said it had net income of 49 cents. Earnings, adjusted for non-recurring costs and stock option expense, came to 60 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 47 cents per share.
The real estate investment trust posted revenue of $320.6 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $311.4 million.
For the year, the company reported profit of $325.8 million, or $1.67 per share. Revenue was reported as $948.4 million.
Arbor Realty Trust shares have increased 13% since the beginning of the year. The stock has dropped 13% in the last 12 months.
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