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UNIONDALE, N.Y. (AP) — UNIONDALE, N.Y. (AP) — Arbor Realty Trust (ABR) on Friday reported third-quarter earnings of $68.5 million.
On a per-share basis, the Uniondale, New York-based company said it had profit of 31 cents. Earnings, adjusted for amortization costs and non-recurring costs, came to 43 cents per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 42 cents per share.
The real estate investment trust posted revenue of $286.5 million in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $277.3 million.
Arbor Realty Trust shares have fallen almost 3% since the beginning of the year. The stock has climbed 17% 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