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Arbor Realty Trust Inc | 7.75% Series B Cumulative Redeemable Preferred Stock (ABR.PRB)

This preferred is marked as having been called.
Prospectus excerpt:  We are offering to the public 1,200,000 shares of our 7.75% Series B Cumulative Redeemable Preferred Stock, par value $0.01 per share, which we refer to in this prospectus supplement as the Series B Preferred Stock. This is the initial issuance of the Series B Preferred Stock. We will pay quarterly cumulative cash dividends on the Series B Preferred Stock, in arrears, on the last day of each February, May, August and November (provided that if any dividend payment date is not a business day, then the dividend which would otherwise have been payable on that dividend payment date may be paid on the next succeeding business day) from, and including, the date of original issuance at 7.75% of the $25.00 per share liquidation preference per annum (equivalent to $1.9375 per annum per share). Dividends will be payable, when, as and if authorized by our board of directors and declared by us, to holders of record as they appear in our stock records for the Series B Preferred Stock at the close of business on the applicable record date, which shall be the fifteenth day of the calendar month, whether or not a business day, in which the applicable dividend payment date falls. The first dividend on the Series B Preferred Stock sold in this offering will be payable, on September 3, 2013 and will be in the amount of $0.6028 per share.

The Series B Preferred Stock may not be redeemed before May 9, 2018, except under circumstances intended to preserve our qualification as a real estate investment trust, or REIT, for federal income tax purposes and except as described below upon the occurrence of a Change of Control (as defined herein). On or after May 9, 2018 we may, at our option, redeem any or all of the shares of the Series B Preferred Stock at $25.00 per share, plus any accumulated and unpaid dividends to, but not including, the redemption date. In addition, upon the occurrence of a Change of Control, we may, at our option, redeem any or all of the shares of Series B Preferred Stock within 120 days after the first date on which such Change of Control occurred for a cash redemption price equal to $25.00 per share, plus any accumulated and unpaid dividends to, but not including, the redemption date. The Series B Preferred Stock has no stated maturity, is not subject to any sinking fund or mandatory redemption and will remain outstanding indefinitely unless repurchased or redeemed by us or converted into our common stock in connection with a Change of Control by the holders of shares of Series B Preferred Stock.

Full Prospectus PDF », ABR Page »

Series:B
Alternate symbology:ABR-B, ABR-PB, ABRprB
Redeemable?:Yes
Call Date:5/9/2018 (Now Trading Post Call Date)
Perpetual?:Yes
Cumulative?:Yes
Shares Offered:1,200,000
Overallotment:180,000
Liquidation Preference:$25
Original Coupon:7.75%
Pay Period:Quarterly
Pay Dates:28-Feb, 31-May, 31-Aug, 30-Nov
CDx3 Compliance Rating: Learn ABR.PRB's Rating
Arbor Realty Trust is a real estate investment trust. Co. operates through two business segments: its Structured Loan Origination and Investment Business (Structured Business) and its Agency Loan Origination and Servicing Business (Agency Business). Through its Structured Business, Co. 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, preferred and direct equity. Through its Agency Business, Co. originates, sells and services a range of multifamily finance products.

Preferreds: ABR.PRA, ABR.PRB, ABR.PRC


Open the ABR Information Page »
Name: 
Arbor Realty Trust Inc
Website: 
www.arbor.com
Sector: 
REITs
Number of ETFs Holding ABR: 
30 (see which ones)
Total Market Value Held by ETFs: 
$242,069,307.82
Total Market Capitalization: 
$2,009,000,000
% of Market Cap. Held by ETFs: 
12.05%

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