Arbor Realty Trust Announces An Increase Of Its Share Repurchase Program; Authorized To Repurchase Up To $150M Of Its Outstanding Common Stock
Portfolio Pulse from Benzinga Newsdesk
Arbor Realty Trust, Inc. (NYSE:ABR) has announced an increase in its share repurchase program, now authorized to buy back up to $150 million of its outstanding common stock. The repurchases will be made at management's discretion and may occur in the open market or through private transactions, in compliance with SEC rules. The program has no set expiration and can be adjusted or halted at any time, with no obligation to purchase a specific number of shares.
December 11, 2023 | 1:35 pm
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POSITIVE IMPACT
Arbor Realty Trust has expanded its share repurchase program to $150 million, which may lead to a reduction in the number of shares outstanding and potentially increase the stock's value.
Share repurchase programs are typically viewed positively by the market as they can reduce the number of shares outstanding, potentially increase earnings per share, and signal management's confidence in the company's financial health. However, the impact may be moderated by the fact that the program does not obligate the company to repurchase a specific number of shares and can be adjusted or halted at any time.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100