Arbor Realty Trust, Inc. (NYSE:ABR) Q1 2024 Earnings Conference Call May 3, 2024 10:00 AM ET
Company Participants
Paul Elenio - Executive Vice President & Chief Financial Officer
Ivan Kaufman - President & Chief Executive Officer
Conference Call Participants
Steve DeLaney - Citizens JMP
Stephen Laws - Raymond James
Brian Violino - Wedbush Securities
Jade Rahmani - KBW
Lee Cooperman - Omega Family Office
Rick Shane - JPMorgan
Crispin Love - Piper Sandler
Operator
Good morning, ladies and gentlemen and welcome to the First Quarter 2024 Arbor Realty Trust Earnings Conference Call. At this time all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today's conference is being recorded. [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, James 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 March 31, 2024. With me on the call today is Ivan Kaufman, our President and Chief Executive Officer.
Before we begin, I need to inform you that statements made in this earnings call may be doing forward-looking statements that 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 beliefs, assumptions and expectations of future performance taking into account 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 very strong quarter, despite extremely challenging environment. Through our diversified business model with many countercyclical income streams, we once again generated distributable earnings in excess of our dividend with a payout ratio of around 90% from first quarter. This is clearly well above the performance from our peers, most of which are paying dividends out of capital or being forced to cut their dividend substantially.