Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Fri, April 26, 5:49 AM
This Slide: #465 of 620 |
Slide #465. Arbor Realty Trust, Inc. — Preferred Stock Offering
Company:
Arbor Realty Trust, Inc. (NYSE:ABR)
Date announced:
2/20/2014
Shares Offered:
900,000
Date of Pricing:
2/20/2014
Price Per Share:
$25.00
Preferred Stock Offering Details:
Arbor Realty Trust, Inc. announced that it has priced the public offering of 900,000 shares of its 8.50% Series C Cumulative Redeemable Preferred Stock (the "Series C Preferred Stock"), liquidation preference $25.00 per share, for gross proceeds of $22.5 million, before deducting underwriting discounts and estimated offering expenses. The Company has granted the underwriters a 30-day option to purchase up to an additional 135,000 shares of the Series C Preferred Stock to cover over-allotments, if any. The offering is expected to close on February 25, 2014.
Arbor Realty Trust is a real estate investment trust and direct lender, providing loan origination and servicing for multifamily, seniors housing, healthcare and other commercial real estate assets. Co.'s segments are: Structured Loan Origination and Investment Business, in which it invests in a portfolio of structured finance assets in the multifamily, single-family rental and commercial real estate markets, primarily consisting of bridge and mezzanine loans, including junior participating interests in first mortgages and preferred and direct equity; and Agency Loan Origination and Servicing Business, in which it originates, sells and services a range of multifamily finance products.
Preferreds: ABR.PRA, ABR.PRB, ABR.PRC, ABR.PRD, ABR.PRE, ABR.PRF
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Hold (1.83 out of 4) 0th percentile
(ranked lower than approx. 100% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com |
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