BUZZ-Mortgage REIT Arbor Realty falls on $300 mln convertible offering

Arbor Realty Trust Inc

ABR

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** Residential/commercial mortgage REIT Arbor Realty Trust ABR.N shares down 3.8% to $5.21 in extended trading as it seeks capital raise

** Uniondale, New York-based firm announces private offering of $300 mln convertible bonds (CBs) due 2029

** Co intends to use net offering proceeds to fully redeem $270 mln 4.50% senior notes due Sept 1, 2026, any remainder for general purposes

** Also expects to use up to $130 mln to repurchase shares to facilitate hedging by investors in the CBs

** ABR shares ended up 1.5% at $5.42 on Tues, down 30% YTD

** Co has $1 bln market cap

** Of 5 analysts covering the stock, 1 rates "buy", 1 rates "hold" and 3 recommend "sell"; median PT $8, per LSEG data

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