UNIONDALE, N.Y. (AP) — UNIONDALE, N.Y. (AP) — Arbor Realty Trust (ABR) on Friday reported a second-quarter loss of $27 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Uniondale, New York-based company said it had a loss of 20 cents. Earnings, adjusted for non-recurring costs and stock option expense, were 10 cents per share.
The real estate investment trust posted revenue of $230.9 million in the period, beating Street forecasts. Three analysts surveyed by Zacks expected $230.7 million.
The company’s shares closed at $4.79. A year ago, they were trading at $11.47.
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