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Strength Seen in Arbor Realty Trust (ABR): Can Its 5.6% Jump Turn into More Strength?
Arbor Realty Trust (ABR - Free Report) shares ended the last trading session 5.6% higher at $11.82. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 28% loss over the past four weeks.
After the stock market fallout due to the collapse of two S&P 500 banks, investors regained some confidence in the finance sector, backed by the steps taken by the regulators to avert a full-blown crisis. Also, gradually cooling inflation and less chance of a bigger rate hike reinforced investor optimism. The company’s recently announced $50-million share repurchase program is another positive. These developments drove the ABR stock.
This real estate investment trust is expected to post quarterly earnings of $0.46 per share in its upcoming report, which represents a year-over-year change of -16.4%. Revenues are expected to be $321.07 million, up 92.6% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Arbor Realty Trust, the consensus EPS estimate for the quarter has been revised 3.1% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on ABR going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Arbor Realty Trust is a member of the Zacks REIT and Equity Trust industry. One other stock in the same industry, BrightSpire (BRSP - Free Report) , finished the last trading session 0.3% higher at $5.91. BRSP has returned -19.8% over the past month.
Colony Credit's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.25. Compared to the company's year-ago EPS, this represents a change of +13.6%. Colony Credit currently boasts a Zacks Rank of #2 (Buy).