Mortgage REIT Arbor Realty falls on $300 mln convertible offering

Arbor Realty Trust

30/06/2026 21:37

** Residential/commercial mortgage REIT Arbor Realty Trust ABR.N shares down 3.8% to $5.21 in extended trading as it seeks capital raise
** Uniondale, New York-based firm announces private offering of $300 mln convertible bonds (CBs) due 2029
** Co intends to use net offering proceeds to fully redeem $270 mln 4.50% senior notes due Sept 1, 2026, any remainder for general purposes
** Also expects to use up to $130 mln to repurchase shares to facilitate hedging by investors in the CBs
** ABR shares ended up 1.5% at $5.42 on Tues, down 30% YTD
** Co has $1 bln market cap
** Of 5 analysts covering the stock, 1 rates "buy", 1 rates "hold" and 3 recommend "sell"; median PT $8, per LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))