Arbor Realty Trust (ABR) PT Raised to $22 at JMP Securities, Following Earnings

JMP Securities analyst Steven C. DeLaney raised the price target on Arbor Realty Trust (NYSE: ABR) to $22.00 (from $20.00) while maintaining a Market Outperform rating.

Analyst says: "Notably, for the sixth consecutive quarter, the company’s Board increased ABR’s quarterly dividend with the new rate of $0.36 per share, an increase of 2.8%. Our new $22.00 price target is derived from a sum-of-the-parts (SOTP) approach including a required yield of 7.5% based on the new dividend rate and a P/E multiple of 10.0x on estimated 2021 excess distributable EPS above the dividend of $0.31 per share."

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