By Connor Hart
Shares of Arbor Realty Trust fell after the company cut its dividend as it reported a sharply lower first-quarter profit.
The stock fell 11%, to $7.28, in premarket trading Friday. Through Thursday's close, shares have lost about a fifth of their value over the past year.
The company before the bell cut its quarterly cash dividend to 17 cents a share, down from 30 cents a share.
The new payout, equal to 68 cents a year, represents an annual yield of about 8.3% based on Thursday's closing price of $8.17. It will be paid June 5 to shareholders of record as of May 22, Arbor Realty said.
The dividend cut came as Arbor Realty reported a profit of $629,000, or 0 cents a share, down from $30.4 million, or 16 cents a share, a year earlier.
Distributable earnings came in at $14.4 million, or 7 cents a share, down from $57.3 million, or 28 cents a share, in the year-ago period.
Net interest income fell to $59.8 million from $75.4 million in the same quarter last year.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
May 08, 2026 09:34 ET (13:34 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.
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