Arbor Realty Trust Inc., of Uniondale, has approval from its board to repurchase up to 1.5 million of its outstanding shares.
"At management's discretion, the shares may be acquired from time to time in the open market, through privately negotiated transactions," or in other circumstances, the company said.
This share repurchase program does not obligate the company to acquire any particular amount of its outstanding shares . . . (and) may be suspended, modified or discontinued at any time and has no set expiration date."