Arbor Realty Trust: Will There Be Another Common Dividend Cut? I'm Buying The Preferreds

  • Arbor Realty Trust was forced to cut its dividend to common shareholders by 30% following a dip in net interest income and EPS. The mREIT has seen delinquencies come in hotter in recent quarters and plans to take back non-performing assets as real estate owned. REO jumped 71% sequentially. The Series E Preferreds are now trading for 66 cents on the dollar with a 9.46% yield on cost.