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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
November 1, 2024
Arbor Realty Trust, Inc.
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
Maryland
(STATE OF INCORPORATION)
001-32136
20-0057959
(COMMISSION FILE NUMBER) (IRS EMPLOYER ID. NUMBER)
333 Earle Ovington Boulevard, Suite 900
11553
Uniondale, New York
(ZIP CODE)
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) 
(516) 506-4200
(REGISTRANT’S TELEPHONE NUMBER, INCLUDING AREA CODE)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
oWritten communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
oSoliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
oPre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
oPre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company o
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading symbolsName of each exchange on which registered
Common Stock, par value $0.01 per shareABRNew York Stock Exchange
Preferred Stock, 6.375% Series D Cumulative Redeemable, par value $0.01 per shareABR-PDNew York Stock Exchange
Preferred Stock, 6.25% Series E Cumulative Redeemable, par value $0.01 per shareABR-PENew York Stock Exchange
Preferred Stock, 6.25% Series F Fixed-to-Floating Rate Cumulative Redeemable, par value $0.01 per shareABR-PFNew York Stock Exchange


Item 2.02    Results of Operations and Financial Condition.
On November 1, 2024, Arbor Realty Trust, Inc. issued a press release announcing its earnings for the quarter ended September 30, 2024, a copy of which is attached hereto as Exhibit 99.1.
Item 9.01    Financial Statements and Exhibits.
(d) Exhibits
Exhibit NumberExhibit
104Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document.


SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
ARBOR REALTY TRUST, INC.
By:/s/ Paul Elenio
Name:Paul Elenio
Title:Chief Financial Officer
Date: November 1, 2024


arbormulti-brandxlogox3cxca.jpg

Arbor Realty Trust Reports Third Quarter 2024 Results and Declares Dividend of $0.43 per Share

Company Highlights:
•GAAP net income of $0.31 and distributable earnings of $0.43, per diluted common share1
•Declares cash dividend on common stock of $0.43 per share
•Successfully delevered the Company 25% from a peak debt to equity ratio of 4:1 in 2023, to 3:1 at 3Q242
•Cash and liquidity of ~$600 million3
•Agency loan originations of $1.10 billion; a servicing portfolio of ~$33.01 billion, up 2% from 2Q24 and 10% from a year ago
•Structured loan originations of $258.5 million, runoff of $521.3 million and a portfolio of ~$11.57 billion
•In October 2024, issued $100.0 million of 9.00% senior notes due 2027

Uniondale, NY, November 1, 2024 -- Arbor Realty Trust, Inc. (NYSE: ABR), today announced financial results for the third quarter ended September 30, 2024. Arbor reported net income for the quarter of $58.2 million, or $0.31 per diluted common share, compared to net income of $77.9 million, or $0.41 per diluted common share for the quarter ended September 30, 2023. Distributable earnings for the quarter was $88.2 million, or $0.43 per diluted common share, compared to $112.2 million, or $0.55 per diluted common share for the quarter ended September 30, 2023.






Arbor Realty Trust Reports Third Quarter 2024 Results and Declares Dividend of $0.43 per Share
November 1, 2024
Page 2
Agency Business
Loan Origination Platform
 Agency Loan Volume (in thousands)
 Quarter Ended
 September 30, 2024June 30, 2024
Fannie Mae$616,211 $742,724 
Freddie Mac378,809 346,821 
Private Label74,162 34,714 
FHA27,457 — 
SFR-Fixed Rate— 24,996 
Total Originations$1,096,639 $1,149,255 
 
Total Loan Sales$1,118,977 $1,135,287 
  
Total Loan Commitments$1,056,490 $1,099,713 
For the quarter ended September 30, 2024, the Agency Business generated revenues of $77.4 million, compared to $76.8 million for the second quarter of 2024. Gain on sales, including fee-based services, net was $18.6 million for the quarter, reflecting a margin of 1.67%, compared to $17.4 million and 1.54% for the second quarter of 2024. Income from mortgage servicing rights was $13.2 million for the quarter, reflecting a rate of 1.25% as a percentage of loan commitments, compared to $14.5 million and 1.32% for the second quarter of 2024.
At September 30, 2024, loans held-for-sale was $326.1 million, with financing associated with these loans totaling $319.4 million.
Fee-Based Servicing Portfolio
The Company’s fee-based servicing portfolio totaled $33.01 billion at September 30, 2024. Servicing revenue, net was $31.1 million for the quarter and consisted of servicing revenue of $48.4 million, net of amortization of mortgage servicing rights totaling $17.3 million.

Arbor Realty Trust Reports Third Quarter 2024 Results and Declares Dividend of $0.43 per Share
November 1, 2024
Page 3
 Fee-Based Servicing Portfolio ($ in thousands)
 September 30, 2024June 30, 2024
 UPBWtd. Avg. Fee (bps)Wtd. Avg. Life (years)UPBWtd. Avg. Fee (bps)Wtd. Avg. Life (years)
Fannie Mae$22,526,022 46.66.6$22,114,193 46.77.0
Freddie Mac5,820,026 21.97.15,587,178 22.77.4
Private Label2,619,485 18.75.82,547,308 18.96.0
FHA1,390,766 14.218.91,369,507 14.418.9
Bridge380,379 10.93.0380,547 10.93.4
SFR-Fixed Rate275,081 20.14.6279,962 20.14.9
Total$33,011,759 38.07.1$32,278,695 38.47.5
Loans sold under the Fannie Mae program contain an obligation to partially guarantee the performance of the loan (“loss-sharing obligations”) and includes $34.8 million for the fair value of the guarantee obligation undertaken at September 30, 2024. The Company recorded a $3.2 million net provision for loss sharing associated with CECL for the third quarter of 2024. At September 30, 2024, the Company’s total CECL allowance for loss-sharing obligations was $45.8 million, representing 0.20% of the Fannie Mae servicing portfolio.















Arbor Realty Trust Reports Third Quarter 2024 Results and Declares Dividend of $0.43 per Share
November 1, 2024
Page 4
Structured Business
Portfolio and Investment Activity
 Structured Portfolio Activity ($ in thousands)
 Quarter Ended
 September 30, 2024June 30, 2024
 UPB% UPB%
Bridge:  
Multifamily$14,500 6 %$19,650 9 %
SFR239,064 92 %185,500 82 %
Land— — %10,350 4 %
253,564 98 %215,500 95 %
 .
Mezzanine/Preferred Equity4,900 2 %11,684 5 %
Total Originations$258,464 100 %$227,184 100 %
    
Number of Loans Originated38 45 
   
Commitments:
SFR$374,070  $277,260  
Construction - Multifamily47,000  —  
Total Commitments$421,070 $277,260 
Loan Runoff$521,341  $629,641  

Structured Portfolio ($ in thousands)
September 30, 2024June 30, 2024
UPB% UPB%
Bridge:  
Multifamily$9,208,954 80 %$9,679,128 82 %
SFR1,783,475 15 %1,622,269 14 %
Other176,855 2 %176,855 1 %
11,169,284 97 %11,478,252 97 %
   
Mezzanine/Preferred Equity393,168 3 %389,981 3 %
SFR Permanent3,086 <1%4,975 <1%
Total Portfolio$11,565,538 100 %$11,873,208 100 %

Arbor Realty Trust Reports Third Quarter 2024 Results and Declares Dividend of $0.43 per Share
November 1, 2024
Page 5
At September 30, 2024, the loan and investment portfolio’s unpaid principal balance ("UPB"), excluding loan loss reserves, was $11.57 billion, with a weighted average interest rate of 7.25%, compared to $11.87 billion and 7.79% at June 30, 2024. Including certain fees earned and costs associated with the loan and investment portfolio, the weighted average interest rate was 8.16% at September 30, 2024, compared to 8.60% at June 30, 2024. The decrease in rate was primarily due to a decrease in the SOFR rate in the third quarter of 2024.
The average balance of the Company’s loan and investment portfolio during the third quarter of 2024, excluding loan loss reserves, was $11.80 billion with a weighted average yield of 9.04%, compared to $12.15 billion and 8.99% for the second quarter of 2024.
During the third quarter of 2024, the Company recorded a $14.8 million net provision for loan losses associated with CECL. At September 30, 2024, the Company’s total allowance for loan losses was $243.6 million. The Company had twenty-six non-performing loans with a UPB of $625.4 million, before related loan loss reserves of $37.3 million, compared to twenty-four loans with a UPB of $676.2 million, before loan loss reserves of $28.1 million at June 30, 2024.
In addition, at September 30, 2024, the Company had ten loans with a total UPB of $319.2 million (before related loan loss reserves of $1.0 million) that were less than 60 days past due, compared to fourteen loans with a total UPB of $367.9 million at June 30, 2024. Interest income on these loans is only being recorded to the extent cash is received.
During the third quarter of 2024, the Company modified twenty-four loans with a total UPB of $1.15 billion. Eighteen of these loans with a total UPB of $710.7 million, contained interest rates based on pricing over SOFR ranging from 3.25% to 4.85%, and one loan with a 7.00% fixed rate. Under the loan modification terms, borrowers invested additional capital to recapitalize their deals in exchange for temporary rate relief, which we provided through a pay and accrual feature. At September 30, 2024, these modified loans had a weighted average pay rate of 5.91% and a weighted average accrual rate of 2.50%. A portion of these loans totaling $87.5 million were less than 60 days past due and $151.8 million were non-performing at June 30, 2024, and are now current in accordance with their modified terms.
Financing Activity
The balance of debt that finances the Company’s loan and investment portfolio at September 30, 2024 was $9.97 billion with a weighted average interest rate including fees of 7.18%, as compared to $10.26 billion and a rate of 7.53% at June 30, 2024.
The average balance of debt that finances the Company’s loan and investment portfolio for the third quarter of 2024 was $10.09 billion, as compared to $10.81 billion for the second quarter of 2024. The average cost of borrowings for the third quarter of 2024 was 7.58%, compared to 7.54% for the second quarter of 2024.
In October 2024, the Company issued $100.0 million of its 9.00% senior unsecured notes due October 2027 through a private offering. The Company expects that the net proceeds of this offering will be used to pay down debt and for general corporate purposes.

Arbor Realty Trust Reports Third Quarter 2024 Results and Declares Dividend of $0.43 per Share
November 1, 2024
Page 6
Dividend
The Company announced today that its Board of Directors has declared a quarterly cash dividend of $0.43 per share of common stock for the quarter ended September 30, 2024. The dividend is payable on November 27, 2024 to common stockholders of record on November 15, 2024.
Earnings Conference Call
The Company will host a conference call today at 10:00 a.m. Eastern Time. A live webcast and replay of the conference call will be available at www.arbor.com in the investor relations section of the Company’s website, or you can access the call telephonically at least ten minutes prior to the conference call. The dial-in numbers are (800) 579-2543 for domestic callers and (785) 424-1699 for international callers. Please use participant passcode ABRQ324 when prompted by the operator.
A telephonic replay of the call will be available until November 8, 2024. The replay dial-in numbers are (800) 839-5493 for domestic callers and (402) 220-2552 for international callers.
About Arbor Realty Trust, Inc.
Arbor Realty Trust, Inc. (NYSE: ABR) is a nationwide real estate investment trust and direct lender, providing loan origination and servicing for multifamily, single-family rental (SFR) portfolios, and other diverse commercial real estate assets. Headquartered in New York, Arbor manages a multibillion-dollar servicing portfolio, specializing in government-sponsored enterprise products. Arbor is a leading Fannie Mae DUS® lender and Freddie Mac Optigo® Seller/Servicer, and an approved FHA Multifamily Accelerated Processing (MAP) lender. Arbor’s product platform also includes bridge, CMBS, mezzanine and preferred equity loans. Rated by Standard and Poor’s and Fitch Ratings, Arbor is committed to building on its reputation for service, quality, and customized solutions with an unparalleled dedication to providing our clients excellence over the entire life of a loan.
Safe Harbor Statement
Certain items in this press release may constitute forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on management’s current expectations and beliefs and are subject to a number of trends and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Arbor can give no assurance that its expectations will be attained. Factors that could cause actual results to differ materially from Arbor’s expectations include, but are not limited to, changes in economic conditions generally, and the real estate markets specifically, continued ability to source new investments, changes in interest rates and/or credit spreads, and other risks detailed in Arbor’s Annual Report on Form 10-K for the year ended December 31, 2023 and its other reports filed with the SEC. Such forward-looking statements speak only as of the date of this press release. Arbor expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Arbor’s expectations with regard thereto or change in events, conditions, or circumstances on which any such statement is based.

Arbor Realty Trust Reports Third Quarter 2024 Results and Declares Dividend of $0.43 per Share
November 1, 2024
Page 7
Notes
1.During the quarterly earnings conference call, the Company may discuss non-GAAP financial measures as defined by SEC Regulation G. In addition, the Company has used non-GAAP financial measures in this press release. A supplemental schedule of non-GAAP financial measures and the comparable GAAP financial measure can be found on the last page of this release.
2.Debt to equity ratio reflects junior subordinated notes as equity.
3.Amounts reflect approximate balances as of October 30, 2024.
Contact:
Arbor Realty Trust, Inc.
Paul Elenio, Chief Financial Officer
516-506-4422
pelenio@arbor.com

Arbor Realty Trust Reports Third Quarter 2024 Results and Declares Dividend of $0.43 per Share
November 1, 2024
Page 8
ARBOR REALTY TRUST, INC. AND SUBSIDIARIES
Consolidated Statements of Income - (Unaudited)
($ in thousands—except share and per share data)
 
Quarter Ended September 30,
Nine Months Ended September 30,
 2024202320242023
Interest income$286,522 $336,474 $905,002 $1,000,159 
Interest expense197,710 229,180 624,613 675,749 
Net interest income88,812 107,294 280,389 324,410 
Other revenue:  
Gain on sales, including fee-based services, net18,638 18,619 52,752 55,795 
Mortgage servicing rights13,195 14,109 37,928 48,769 
Servicing revenue, net31,142 35,463 92,577 97,376 
Property operating income1,507 1,450 4,521 4,261 
Gain (loss) on derivative instruments, net822 (421)(4,711)(3,582)
Other income, net2,537 173 6,955 5,099 
Total other revenue67,841 69,393 190,022 207,718 
Other expenses:  
Employee compensation and benefits44,881 39,810 135,411 123,518 
Selling and administrative13,141 12,367 39,897 38,574 
Property operating expenses1,686 1,479 4,948 4,227 
Depreciation and amortization1,944 2,286 6,937 7,297 
Provision for loss sharing (net of recoveries)3,180 1,679 7,787 12,528 
Provision for credit losses (net of recoveries)16,220 18,652 64,903 55,047 
Total other expenses81,052 76,273 259,883 241,191 
Income before extinguishment of debt, sale of real estate, income from equity affiliates and income taxes75,601 100,414 210,528 290,937 
Loss on extinguishment of debt— (314)(412)(1,561)
Gain on sale of real estate— — 3,813 — 
Income from equity affiliates3,177 809 7,388 20,694 
Provision for income taxes(5,233)(5,854)(12,726)(19,436)
Net income73,545 95,055 208,591 290,634 
Preferred stock dividends10,342 10,342 31,027 31,027 
Net income attributable to noncontrolling interest5,028 6,789 14,119 21,200 
Net income attributable to common stockholders$58,175 $77,924 $163,445 $238,407 
Basic earnings per common share$0.31 $0.42 $0.87 $1.30 
Diluted earnings per common share$0.31 $0.41 $0.86 $1.28 
Weighted average shares outstanding:  
Basic188,513,832187,023,395188,626,263183,340,149
Diluted205,347,309221,328,818205,448,479217,457,399
Dividends declared per common share$0.43 $0.43 $1.29 $1.25 

Arbor Realty Trust Reports Third Quarter 2024 Results and Declares Dividend of $0.43 per Share
November 1, 2024
Page 9
ARBOR REALTY TRUST, INC. AND SUBSIDIARIES
Consolidated Balance Sheets
($ in thousands—except share and per share data)
 September 30, 2024
 (Unaudited)December 31, 2023
Assets:  
Cash and cash equivalents$687,540 $928,974 
Restricted cash 179,906 608,233 
Loans and investments, net (allowance credit losses of $243,588 and $195,664)
11,292,647 12,377,806 
Loans held-for-sale, net326,141 551,707 
Capitalized mortgage servicing rights, net376,403 391,254 
Securities held-to-maturity, net (allowance credit losses of $10,564 and $6,256)
156,027 155,279 
Investments in equity affiliates76,294 79,303 
Real estate owned, net127,926 86,991 
Due from related party 96,823 64,421 
Goodwill and other intangible assets88,510 91,378 
Other assets 473,241 403,290 
Total assets$13,881,458 $15,738,636 
Liabilities and Equity:  
Credit and repurchase facilities$3,257,719 $3,237,827 
Securitized debt5,315,079 6,935,010 
Senior unsecured notes1,246,908 1,333,968 
Convertible senior unsecured notes285,170 283,118 
Junior subordinated notes to subsidiary trust issuing preferred securities144,480 143,896 
Mortgage notes payable — real estate owned35,350 44,339 
Due to related party 25,474 13,799 
Due to borrowers56,975 121,707 
Allowance for loss-sharing obligations80,577 71,634 
Other liabilities270,349 298,733 
Total liabilities10,718,081 12,484,031 
Equity:  
Arbor Realty Trust, Inc. stockholders' equity:  
Preferred stock, cumulative, redeemable, $0.01 par value: 100,000,000 shares authorized, shares issued and outstanding by period:633,684 633,684 
Special voting preferred shares - 16,293,589 shares
  
6.375% Series D - 9,200,000 shares
  
6.25% Series E - 5,750,000 shares
  
6.25% Series F - 11,342,000 shares
  
Common stock, $0.01 par value: 500,000,000 shares authorized - 188,608,777 and 188,505,264 shares issued and outstanding
1,886 1,885 
Additional paid-in capital2,363,259 2,367,188 
Retained earnings34,816 115,216 
Total Arbor Realty Trust, Inc. stockholders' equity3,033,645 3,117,973 
Noncontrolling interest129,732 136,632 
Total equity3,163,377 3,254,605 
Total liabilities and equity $13,881,458 $15,738,636 

Arbor Realty Trust Reports Third Quarter 2024 Results and Declares Dividend of $0.43 per Share
November 1, 2024
Page 10
ARBOR REALTY TRUST, INC. AND SUBSIDIARIES
Statement of Income Segment Information - (Unaudited)
(in thousands)
 
Quarter Ended September 30, 2024
 Structured
Business		Agency
Business
Other (1)
Consolidated
Interest income$274,102 $12,420 $— $286,522 
Interest expense192,945 4,765 — 197,710 
Net interest income81,157 7,655 — 88,812 
Other revenue:    
Gain on sales, including fee-based services, net— 18,638 — 18,638 
Mortgage servicing rights— 13,195 — 13,195 
Servicing revenue— 48,441 — 48,441 
Amortization of MSRs— (17,299)— (17,299)
Property operating income1,507 — — 1,507 
Gain on derivative instruments, net— 822 — 822 
Other income, net1,364 1,173 — 2,537 
Total other revenue2,871 64,970 — 67,841 
Other expenses:    
Employee compensation and benefits16,772 28,109 — 44,881 
Selling and administrative6,345 6,796 — 13,141 
Property operating expenses1,686 — — 1,686 
Depreciation and amortization1,422 522 — 1,944 
Provision for loss sharing (net of recoveries)— 3,180 — 3,180 
Provision for credit losses (net of recoveries)14,788 1,432 — 16,220 
Total other expenses41,013 40,039 — 81,052 
Income before income from equity affiliates and income taxes43,015 32,586 — 75,601 
Income from equity affiliates3,177 — — 3,177 
Benefit from (provision for) income taxes2,080 (7,313)— (5,233)
Net income48,272 25,273 — 73,545 
Preferred stock dividends10,342 — — 10,342 
Net income attributable to noncontrolling interest— — 5,028 5,028 
Net income attributable to common stockholders$37,930 $25,273 $(5,028)$58,175 
(1)Includes income allocated to the noncontrolling interest holders not allocated to the two reportable segments.

Arbor Realty Trust Reports Third Quarter 2024 Results and Declares Dividend of $0.43 per Share
November 1, 2024
Page 11
ARBOR REALTY TRUST, INC. AND SUBSIDIARIES
Balance Sheet Segment Information - (Unaudited)
(in thousands)
 September 30, 2024
 Structured BusinessAgency BusinessConsolidated
Assets:   
Cash and cash equivalents$212,588 $474,952 $687,540 
Restricted cash161,892 18,014 179,906 
Loans and investments, net11,292,647 — 11,292,647 
Loans held-for-sale, net— 326,141 326,141 
Capitalized mortgage servicing rights, net— 376,403 376,403 
Securities held-to-maturity, net— 156,027 156,027 
Investments in equity affiliates76,294 — 76,294 
Real estate owned, net127,926 — 127,926 
Goodwill and other intangible assets12,500 76,010 88,510 
Other assets and due from related party484,921 85,143 570,064 
Total assets$12,368,768 $1,512,690 $13,881,458 
    
Liabilities:   
Debt obligations$9,965,287 $319,419 $10,284,706 
Allowance for loss-sharing obligations— 80,577 80,577 
Other liabilities and due to related parties270,830 81,968 352,798 
Total liabilities$10,236,117 $481,964 $10,718,081 

Arbor Realty Trust Reports Third Quarter 2024 Results and Declares Dividend of $0.43 per Share
November 1, 2024
Page 12
ARBOR REALTY TRUST, INC. AND SUBSIDIARIES
Reconciliation of Distributable Earnings to GAAP Net Income - (Unaudited)
($ in thousands—except share and per share data)
 
Quarter Ended September 30,
Nine Months Ended September 30,
 2024202320242023
Net income attributable to common stockholders$58,175 $77,924 $163,445 $238,407 
   
Adjustments:  
Net income attributable to noncontrolling interest5,028 6,789 14,119 21,200 
Income from mortgage servicing rights(13,195)(14,109)(37,928)(48,769)
Deferred tax benefit(2,026)(2,433)(8,922)(6,630)
Amortization and write-offs of MSRs18,792 18,757 56,728 58,684 
Depreciation and amortization2,564 3,957 8,802 12,310 
Loss on extinguishment of debt— 314 412 1,561 
Provision for credit losses, net17,077 16,922 63,337 57,437 
(Gain) loss on derivative instruments, net(1,217)1,002 4,677 2,036 
Stock-based compensation2,977 3,047 11,748 12,141 
   
Distributable earnings (1)$88,175 $112,170 $276,418 $348,377 
   
Diluted distributable earnings per share (1)$0.43 $0.55 $1.35 $1.74 
   
Diluted weighted average shares outstanding (1) (2)205,347,309204,016,436205,448,479200,185,980
(1)Amounts are attributable to common stockholders and OP Unit holders. The OP Units are redeemable for cash, or at the Company's option for shares of the Company's common stock on a one-for-one basis.
(2)The diluted weighted average shares outstanding exclude the potential shares issuable upon conversion and settlement of the Company's convertible senior notes principal balance.
The Company is presenting distributable earnings because management believes it is an important supplemental measure of the Company's operating performance and is useful to investors, analysts and other parties in the evaluation of REITs and their ability to provide dividends to stockholders. Dividends are one of the principal reasons investors invest in REITs. To maintain REIT status, REITs are required to distribute at least 90% of their REIT-taxable income. The Company considers distributable earnings in determining its quarterly dividend and believes that, over time, distributable earnings is a useful indicator of the Company's dividends per share.
The Company defines distributable earnings as net income (loss) attributable to common stockholders computed in accordance with GAAP, adjusted for accounting items such as depreciation and amortization (adjusted for unconsolidated joint ventures), non-cash stock-based compensation expense, income from MSRs, amortization and write-offs of MSRs, gains/losses on derivative instruments primarily associated with Private Label loans not yet sold and securitized, changes in fair value of GSE-related derivatives that temporarily flow through earnings, deferred tax provision (benefit), CECL provisions for credit losses (adjusted for realized losses as described below) and gains/losses on the receipt of real estate from the settlement of loans (prior to the sale of the real estate). The Company also adds back one-time charges such as acquisition costs and one-time gains/losses on the early extinguishment of debt and redemption of preferred stock.
The Company reduces distributable earnings for realized losses in the period management determines that a loan is deemed nonrecoverable in whole or in part. Loans are deemed nonrecoverable upon the earlier of: (1) when the loan receivable is settled (i.e., when the loan is repaid, or in the case of foreclosure, when the underlying asset is sold); or (2) when management determines that it is nearly certain that all amounts due will not be collected. The realized loss amount is equal to the difference between the cash received, or expected to be received, and the book value of the asset.

Arbor Realty Trust Reports Third Quarter 2024 Results and Declares Dividend of $0.43 per Share
November 1, 2024
Page 13
Distributable earnings is not intended to be an indication of the Company's cash flows from operating activities (determined in accordance with GAAP) or a measure of its liquidity, nor is it entirely indicative of funding the Company's cash needs, including its ability to make cash distributions. The Company's calculation of distributable earnings may be different from the calculations used by other companies and, therefore, comparability may be limited.

v3.24.3
Cover
Nov. 01, 2024
Document Information [Line Items]  
Document Type 8-K
Document Period End Date Nov. 01, 2024
Entity Registrant Name Arbor Realty Trust, Inc.
Entity Incorporation, State or Country Code MD
Entity File Number 001-32136
Entity Tax Identification Number 20-0057959
Entity Address, Address Line One 333 Earle Ovington Boulevard
Entity Address, Address Line Two Suite 900
Entity Address, City or Town Uniondale
Entity Address, State or Province NY
Entity Address, Postal Zip Code 11553
City Area Code 516
Local Phone Number 506-4200
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Entity Emerging Growth Company false
Entity Central Index Key 0001253986
Amendment Flag false
Common Stock, par value $0.01 per share  
Document Information [Line Items]  
Title of 12(b) Security Common Stock, par value $0.01 per share
Trading Symbol ABR
Security Exchange Name NYSE
Preferred Stock, 6.375% Series D Cumulative Redeemable, par value $0.01 per share  
Document Information [Line Items]  
Title of 12(b) Security Preferred Stock, 6.375% Series D Cumulative Redeemable, par value $0.01 per share
Trading Symbol ABR-PD
Security Exchange Name NYSE
Preferred Stock, 6.25% Series E Cumulative Redeemable, par value $0.01 per share  
Document Information [Line Items]  
Title of 12(b) Security Preferred Stock, 6.25% Series E Cumulative Redeemable, par value $0.01 per share
Trading Symbol ABR-PE
Security Exchange Name NYSE
Preferred Stock, 6.25% Series F Fixed-to-Floating Rate Cumulative Redeemable, par value $0.01 per share  
Document Information [Line Items]  
Title of 12(b) Security Preferred Stock, 6.25% Series F Fixed-to-Floating Rate Cumulative Redeemable, par value $0.01 per share
Trading Symbol ABR-PF
Security Exchange Name NYSE
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