UNIONDALE, N.Y. (AP) — UNIONDALE, N.Y. (AP) — Arbor Realty Trust (ABR) on Friday reported first-quarter earnings of $40.8 million.
On a per-share basis, the Uniondale, New York-based company said it had net income of 16 cents. Earnings, adjusted for amortization costs and stock option expense, came to 28 cents per share.
The real estate investment trust posted revenue of $240.7 million in the period.
Arbor Realty Trust shares have decreased 20% since the beginning of the year. The stock has fallen 15% in the last 12 months.
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