Arbor Realty Trust Inc. (ABR, Financial) filed Quarterly Report for the period ended 2011-09-30.
Arbor Realty Trust Inc. has a market cap of $88.2 million; its shares were traded at around $3.47 with and P/S ratio of 0.9.
Gains and losses on terminated swaps are being deferred and recognized in earnings over the original life of the hedged item. These swap agreements must be effective in reducing the variability of cash flows of the hedged items in order to qualify for the aforementioned hedge accounting treatment. As of September 30, 2011 and December 31, 2010, the Company has a net deferred loss of $3.3 million and $4.5 million, respectively, in accumulated other comprehensive loss. The Company recorded $0.4 million as additional interest expense related to the amortization of the loss for the three months ended September 30, 2011 and 2010, respectively, and less than $0.1 million as a reduction to interest expense related to the accretion of the net gains for the three months ended September 30, 2011 and 2010. The Company recorded $1.3 million as additional interest expense related to the amortization of the loss for the nine months ended September 30, 2011 and 2010, respectively, and $0.1 million and $0.2 million as a reduction to interest expense related to the accretion of the net gains for the nine months ended September 30, 2011 and 2010, respectively. The Company expects to record approximately $1.0 million of net deferred loss to interest expense over the next twelve months.
Noncontrolling interest in a consolidated entity on the Companys Consolidated Balance Sheet as of September 30, 2011 and December 31, 2010 was $1.9 million and $2.0 million, respectively, representing a third partys interest in the equity of a consolidated subsidiary that owns an investment and carries a note payable related to the exchange of POM profits interest transaction discussed in Note 7 Debt Obligations. For the three months ended September 30, 2011 and 2010, the Company recorded income of $0.1 million as well as distributions of $0.1 million attributable to noncontrolling interest. For the nine months ended September 30, 2011 and 2010, the Company recorded income of $0.2 million as well as distributions of $0.2 million, attributable to noncontrolling interest.
The following is a reconciliation of the numerator and denominator of the basic and diluted earnings per share computations for the three months ended September 30, 2011 and 2010.
The following is a reconciliation of the numerator and denominator of the basic and diluted earnings per share computations for the nine months ended September 30, 2011 and 2010.
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Arbor Realty Trust Inc. has a market cap of $88.2 million; its shares were traded at around $3.47 with and P/S ratio of 0.9.
Highlight of Business Operations:
2011 Consolidated Financial Statements at a fair value of $67.3 million and the carrying value of the loan represented the fair value of the underlying collateral at the time of the transfer. For the three and nine months ended September 30, 2011, the Company recorded property operating income of $4.7 million and $14.4 million, respectively, property operating expense of $4.3 million and $11.5 million, respectively, and depreciation of $0.8 million and $2.1 million, respectively. The operating results of the hotels are seasonal with the majority of revenues earned in the first two quarters of the calendar year. At September 30, 2011, this investments balance sheet was comprised of land and building, net of accumulated depreciation, totaling approximately $65.7 million, cash of $0.2 million, other assets of $2.0 million, receivable from related party of $1.1 million and other liabilities of $1.5 million. The Company will finalize the purchase price allocation within one year of the acquisition date.Gains and losses on terminated swaps are being deferred and recognized in earnings over the original life of the hedged item. These swap agreements must be effective in reducing the variability of cash flows of the hedged items in order to qualify for the aforementioned hedge accounting treatment. As of September 30, 2011 and December 31, 2010, the Company has a net deferred loss of $3.3 million and $4.5 million, respectively, in accumulated other comprehensive loss. The Company recorded $0.4 million as additional interest expense related to the amortization of the loss for the three months ended September 30, 2011 and 2010, respectively, and less than $0.1 million as a reduction to interest expense related to the accretion of the net gains for the three months ended September 30, 2011 and 2010. The Company recorded $1.3 million as additional interest expense related to the amortization of the loss for the nine months ended September 30, 2011 and 2010, respectively, and $0.1 million and $0.2 million as a reduction to interest expense related to the accretion of the net gains for the nine months ended September 30, 2011 and 2010, respectively. The Company expects to record approximately $1.0 million of net deferred loss to interest expense over the next twelve months.
Noncontrolling interest in a consolidated entity on the Companys Consolidated Balance Sheet as of September 30, 2011 and December 31, 2010 was $1.9 million and $2.0 million, respectively, representing a third partys interest in the equity of a consolidated subsidiary that owns an investment and carries a note payable related to the exchange of POM profits interest transaction discussed in Note 7 Debt Obligations. For the three months ended September 30, 2011 and 2010, the Company recorded income of $0.1 million as well as distributions of $0.1 million attributable to noncontrolling interest. For the nine months ended September 30, 2011 and 2010, the Company recorded income of $0.2 million as well as distributions of $0.2 million, attributable to noncontrolling interest.
The following is a reconciliation of the numerator and denominator of the basic and diluted earnings per share computations for the three months ended September 30, 2011 and 2010.
The following is a reconciliation of the numerator and denominator of the basic and diluted earnings per share computations for the nine months ended September 30, 2011 and 2010.
Read the The complete Report
