Dallas, Texas 02/18/2014 (FINANCIALSTRENDS) – Highlight from Arbor Realty Trust, Inc. (NYSE:ABR) full year operations results announced on 14th February, was the 71 cents FFP declared per share for the full year 2013, which translated into a 9 percent incremental growth over full year 2012 returns. The strong growth by this real estate investment trust was driven by growth in its mall and shopping portfolio, with the sector sale price per square foot going up to $468, which is a 8 percent increase over last year’s average price achieved per square.
Arbor Realty Trust, Inc. (NYSE:ABR) also reported a mall occupancy rate of 95.6 percent in comparison to previous year, thanks to growth in the re-leasing options in its properties. This sector grew up by 15 percent in FY13 and was largely helped by low levels of occupancy cost ratio which came in at 10.5 percent for the fiscal year.
Michael Glimcher, Chairman and Chief Executive Officer has been quoted to have said that, “ During the fourth quarter, we also held the grand re-openings of our newly renovated and rebranded Outlet Collection properties in both New Jersey and Seattle. Through these projects, we have created fashion mall environments featuring some of the outlet brands in the world and reposition both centres for future growth”. The full year results also saw a big increase thanks to the successful completion of the phase 2 of the Scottsdale Quarter project, which had increased its revenue flow. The new property has boasted of occupancy rates of more than 90 percent.
It is also relevant to note at this juncture that Arbor Realty Trust, Inc. (NYSE:ABR) has declared a dividend of 13 cents per share for the quarter and is to be paid out to all share holders on record as of 21st February on 28th February. The board had announced dividend of 51 cents per share for its preferred stock holders earlier this month.