Arbor Realty Trust, Inc. (NYSE:ABR) Q3 2023 Earnings Conference Call October 27, 2023 10:00 AM ET
Company Participants
Paul Elenio - EVP & CFO
Ivan Kaufman - Chairman, President & CEO
Conference Call Participants
Steven Delaney - JMP Securities
Stephen Laws - Raymond James & Associates
Jay McCanless - Wedbush Securities
Crispin Love - Piper Sandler & Co.
Jade Rahmani - KBW
Richard Shane - JPMorgan Chase & Co.
Operator
Good morning, ladies and gentlemen, and welcome to the Third Quarter 2023 Arbor Realty Trust's Earnings Conference Call. [Operator Instructions]. I would now like to turn the call over to your speaker today, Paul Elenio, Chief Financial Officer. Please go ahead.
Paul Elenio
Okay. Thank you, Mike, and good morning, everyone, and welcome to the quarterly earnings call for Arbor Realty Trust. This morning, we'll discuss the results for the quarter ended September 30, 2023.
With me on the call today is Ivan Kaufman, our President and Chief Executive Officer.
Before we begin, I need to inform you statements made in this earnings call may be deemed forward-looking statements and are subject to risks and uncertainties, including information about possible or assumed future results of our business, financial condition, liquidity, results of operations, plans and objectives. These statements are based on our beliefs, assumptions and expectations of our future performance, taking into account the information currently available to us.
Factors that could cause actual results to differ materially from Arbor's expectations in these forward-looking statements are detailed in our SEC reports. Listeners are cautioned not to place undue reliance on these forward-looking statements, which speak only as of today. Arbor undertakes no obligation to publicly update or revise these forward-looking statements to reflect events or circumstances after today or the occurrences of unanticipated events.
I'll now turn the call over to Arbor's President and CEO, Ivan Kaufman.
Ivan Kaufman
Thank you, Paul, and thanks to everyone for joining us on today's call. As you can see from this morning's press release, we had another outstanding quarter as our diverse business model continues to generate earnings that are well in excess of our dividend. This has allowed us to maintain one of the lowest dividend payout ratios in the industry, which was 78% in the third quarter. Additionally and very significantly despite being in a very challenging environment over the last several quarters, we've managed to maintain our book value while reporting reserves with potential future losses, which clearly differentiates us from every one of our peers.