ABR is my newest dividend holding. It is a Realty Trust and I had been wanting more exposure to the Real Estate sector and had seen Leon Cooperman take a large stake, so I pulled the trigger. The stock started to run away from my $7.18 buy order, I ended up just getting 72% of my order filled.
Since then, they have gone to about $7.40. They announced earnings last night (Arbor Realty Trust Reports Fourth Quarter and Full Year 2012 Results and Declares Fourth Quarter 2012 Dividend). The stock is trading pretty flat today, but I was quite pleased.
They are paying a 12 cent dividend, versus 11 cents last quarter. 48 cents a year would be a yield of about 6.5%. The interesting item I need to understand better (and perhaps the reason Cooperman bought) is that their GAAP BV is $7.34, but their non-GAAP BV is $10.41. Obviously they are 40% below that value, so there may be some sizeable upside potential. Maybe I should fill out the other 28%...
Next week is dividend week. Actually, the 19th is dividend day as I have 5 stocks (MSFT, CA, NUS, MPC and AOD) scheduled to put money in my pocket.
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