UNIONDALE, N.Y. (AP) — UNIONDALE, N.Y. (AP) — Arbor Realty Trust (ABR) on Friday reported fourth-quarter profit of $70.2 million.
The Uniondale, New York-based company said it had profit of 32 cents per share. Earnings, adjusted for one-time gains and costs, came to 40 cents per share.
The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 42 cents per share.
The real estate investment trust posted revenue of $262.9 million in the period, surpassing Street forecasts. Three analysts surveyed by Zacks expected $259.7 million.
For the year, the company reported profit of $264.6 million, or $1.18 per share. Revenue was reported as $1.17 billion.
Arbor Realty Trust shares have decreased slightly since the beginning of the year. The stock has risen 3% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ABR at https://www.zacks.com/ap/ABR
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