From GlobeNewswire:

Arbor Realty Trust, Inc. reported fourth quarter GAAP net income of $0.48 per diluted common share and distributable earnings of $0.53 per diluted common share excluding a $7.0 million loss on an office property. The company also declared a cash dividend on common stock of $0.43 per share and reported a liquidity position with around $1 billion in cash and liquidity.

For the full year, GAAP net income was $1.75 per diluted common share, a 5% increase from the prior year. Arbor Realty Trust raised their dividend twice during 2023 to an annual run rate of $1.72 per share, and reported a total stockholder return of 28%. The agency servicing portfolio grew by 11% and originated $5.11 billion in loans.

For the quarter ended December 31, 2023, the Agency Business generated revenues of $96.3 million with a gain on sales, including fee-based services, of $15.4 million and an income from mortgage servicing rights of $21.1 million. At the end of December 31, 2023, the fee-based servicing portfolio totaled $30.98 billion. Additionally, Arbor Realty Trust reported a provision of $3.1 million associated with CECL for the fourth quarter of 2023.

The structured portfolio activity for the quarter ended December 31, 2023, amounted to $266.2 million, a 13% reduction from the prior year. The structured portfolio at the end of December 31, 2023, totaled around $12.62 billion.



Read more: Arbor Realty Trust Reports Fourth Quarter and Full Year