Arbor Realty sees net income dip
Arbor Realty Trust, a Uniondale-based real estate finance company, said its first-quarter financial results dipped slightly.
The company, which specializes in bridge and mezzanine loans on apartment buildings, offices and other commercial properties, said its funds from operations fell to $8 million during the three months ending in March, down 4 percent from the same period last year.
Net income attributed to Arbor shareholders fell 11 percent, to $5.9 million, or 12 cents per share. The results fell short of the expectations of analysts, who were expecting 13 cents per share. Shares of Arbor, which employs 37 people, fell 1 cent Thursday, to $7.
Out East Show: Visit The Shamrock evergreen maze, Sannino Vineyard, Seven Ponds Orchard and the Warrior Ranch Foundation NewsdayTV's Doug Geed is heading 'Out East' to showcase the ultimate local spots you need to explore.
Out East Show: Visit The Shamrock evergreen maze, Sannino Vineyard, Seven Ponds Orchard and the Warrior Ranch Foundation NewsdayTV's Doug Geed is heading 'Out East' to showcase the ultimate local spots you need to explore.
