mREIT Face-Off: Lightweight Arbor Realty Vs. Heavyweight Blackstone Mortgage Trust

About: Arbor Realty Trust, Inc. (ABR), BXMT
by: Williams Equity Research
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Williams Equity Research
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Blackstone Mortgage Trust is nearly three times the size of Arbor Realty Trust. While both are mortgage REITs, their business models differ considerably.

Arbor is growing AFFO and distributions far faster than Blackstone, yet it trades at a 15% lower multiple. In fact, Arbor is among the fastest-growing REITs of any kind.

Do Arbor's superior growth rates and 10% higher yield compensate for its smaller size, lack of an established brand, and less-diversified loan portfolio?

Let's find out.

In the middle of 2019, Williams Equity Research ("WER") published "mREIT Battle: Middleweight Ladder Capital Vs. Heavyweight Blackstone Mortgage Trust" comparing and contrasting Ladder Capital (LDR) and Blackstone Mortgage Trust, Inc.