<ul>
<li>想知道 Arbor Realty Trust 當前約 $8.87 的股價是被低估的機會還是價值陷阱嗎？讓我們來分析一下這些數字到底在説什麼。</li>
<li>儘管在過去 7 天內小幅上漲 0.2%，但股價在過去 30 天內仍下跌 3.8%，年初至今下跌 35.6%，過去一年下跌 30.6%，五年內僅上漲 6.9%。這自然引發了市場是否過於悲觀的問題。</li>
<li>最近，隨着投資者重新評估商業房地產融資的前景和長期高利率，Arbor Realty Trust 的業務模型和融資成本受到直接影響，股價備受關注。同時，關於房地產貸款的信用質量和專業貸款機構的韌性的評論使得市場情緒波動，幫助解釋了股價的波動。</li>
<li>即使在經歷了下滑後，Arbor Realty Trust 目前的估值評分為 5/6，表明在我們進行的主要檢查中，它被視為被低估。接下來我們將逐步介紹這些方法，最後以一種超越常規指標的方式來思考估值。</li>
</ul>
<p>瞭解為什麼 Arbor Realty Trust 在過去一年中 -30.6% 的回報落後於同行。</p>
<h3>方法 1：Arbor Realty Trust 超額回報分析</h3>
<p>超額回報模型考察 Arbor Realty Trust 產生的利潤超過股權投資者所需的最低迴報的程度，然後將這些超額利潤資本化為每股隱含價值。</p>
<p>對於 Arbor，起點是每股 $12.08 的賬面價值和每股 $1.34 的穩定每股收益，基於過去五年的股本回報中位數。與每股 $1.09 的股本成本相比，這留下了每股 $0.24 的超額回報，支持的平均股本回報為 11.21%。分析師估計資產負債表將保持穩健，穩定的賬面價值估計為每股 $11.93，來源於三位分析師的預測。</p>
<p>在超額回報框架中使用這些輸入產生的內在價值估計約為每股 $16.05。這表明 Arbor Realty Trust 相對於當前約 $8.87 的價格可能被低估約 44.7%。換句話説，市場將 Arbor 的盈利能力定價為其超過股本成本的回報能力將急劇下降，而這並未反映在該模型當前的假設中。</p>
<p><strong>結果：被低估</strong></p>
<p>我們的超額回報分析表明 Arbor Realty Trust 被低估了 44.7%。將其添加到您的觀察列表或投資組合中，或發現基於現金流的 907 只被低估的股票。</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/c8a42e29-9946-4e7f-bf30-2df74a0a03ce/chart/dcf?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="1706" height="760" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/c8a42e29-9946-4e7f-bf30-2df74a0a03ce/chart/dcf"/></p>
<p>截至 2025 年 12 月的 ABR 折現現金流</p>
<p>前往我們公司報告的估值部分，瞭解我們如何得出 Arbor Realty Trust 的公允價值的更多細節。</p>
<h3>方法 2：Arbor Realty Trust 價格與收益</h3>
<p>對於像 Arbor Realty Trust 這樣的盈利公司，市盈率是衡量投資者願意為每一美元當前收益支付多少的有用方式。一般來説，具有更強增長前景和較低感知風險的企業可以合理化更高的市盈率，而增長緩慢或風險較高通常意味着市盈率應更接近或低於市場和行業標準。</p>
<p>Arbor 目前的市盈率約為 11.37 倍，低於抵押房地產投資信託行業平均約 13.21 倍和更廣泛的同行組平均約 13.53 倍。Simply Wall St 還計算出一個專有的公允比率為 14.32 倍，這是考慮到 Arbor 的盈利增長前景、風險特徵、利潤率、行業特徵和市值後，合理的市盈率。這個公允比率提供了一個比簡單的同行或行業比較更量身定製的基準，因為它明確調整了公司特定的基本面，而不是假設所有房地產投資信託都應享有類似的倍數。與這個 14.32 倍的公允比率相比，Arbor 的 11.37 倍市盈率表明其股票交易價格低於這些基本面所暗示的水平。</p>
<p><strong>結果：被低估</strong></p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/c8a42e29-9946-4e7f-bf30-2df74a0a03ce/chart/pe-multiple-vs-industry?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="1640" height="650" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/c8a42e29-9946-4e7f-bf30-2df74a0a03ce/chart/pe-multiple-vs-industry"/></p>
<p>截至 2025 年 12 月的 NYSE:ABR 市盈率</p>
<p>市盈率講述了一個故事，但如果真正的機會在其他地方呢？發現 1448 家內部人士正在大舉押注於爆炸性增長的公司。</p>
<h3>提升您的決策能力：選擇您的 Arbor Realty Trust 故事</h3>
<p>我們之前提到過，有一種更好的方式來理解估值，因此讓我們向您介紹 Narratives，這是 Simply Wall St 社區頁面上的一個簡單工具，讓您將關於公司的故事與具體的預測和公允價值估計相結合。然後，您可以將該公允價值與今天的價格進行比較，看看它是否看起來像是買入或賣出，並在新消息或收益到來時自動更新您的觀點。例如，一個 Arbor Realty Trust 的敍述可能假設高利率和緩慢的代理生產使收益承壓，併合理化接近最悲觀分析師目標約 $10.50 的公允價值。另一個更樂觀的敍述可能集中在 Arbor 的貸款解決方案、多元化收入來源和歷史韌性上，以支持接近最樂觀目標約 $15.00 的假設。這説明不同的投資者如何看待相同的事實，插入不同的收入、利潤率和市盈率預期，最終得出截然不同但清晰框架的故事到數字到公允價值的路徑。</p>
<p>您認為 Arbor Realty Trust 的故事還有更多內容嗎？前往我們的社區，看看其他人怎麼説！</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/c8a42e29-9946-4e7f-bf30-2df74a0a03ce/chart/quote-price?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="1510" height="1044" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/c8a42e29-9946-4e7f-bf30-2df74a0a03ce/chart/quote-price"/></p>
<p>NYSE:ABR 1 年股票價格走勢圖</p>
<p>這篇來自 Simply Wall St 的文章具有一般性。<strong>我們僅基於歷史數據和分析師預測提供評論，採用無偏見的方法，我們的文章並不旨在提供財務建議。</strong> 它不構成購買或出售任何股票的推薦，也未考慮您的目標或財務狀況。我們的目標是為您提供以基本數據驅動的長期分析。請注意，我們的分析可能未考慮最新的價格敏感公司公告或定性材料。Simply Wall St 在提到的任何股票中均沒有持倉。</p>
<p>國防和災難的移動基礎設施</p>
<p>下一波機器人技術不是類人型的。它是完全自主的塔樓，在 30 分鐘內提供 5G、ISR 和雷達服務，覆蓋任何地方。</p>
<p>在下一輪合同之前獲取投資者簡報</p>
<p>由 CiTech 贊助</p>

<p>Arbor Realty Trust 的股票經歷了顯著下跌，引發了對其估值的質疑。儘管近期有所小幅上漲，但該股票年初至今下跌了 35.6%。分析師表示，基於超額收益和市盈率分析，該股票被低估了 44.7%。Arbor 目前的市盈率低於行業平均水平，表明可能存在低估。該公司的估值評分為 5/6，暗示在關鍵指標上被低估。投資者正在重新評估商業房地產融資和利率的前景，這對 Arbor 的商業模式和融資成本產生了影響</p>

<ul>
<li>Wondering if Arbor Realty Trust at around $8.87 is a beaten down opportunity or a value trap? Let us unpack what the numbers are really saying about the stock.</li>
<li>Despite a modest 0.2% gain over the last 7 days, the share price is still down 3.8% over 30 days, 35.6% year to date, and 30.6% over the past year, with only a 6.9% gain over five years. This naturally raises questions about whether the market has become too pessimistic.</li>
<li>Recently, the stock has been in the spotlight as investors reassess the outlook for commercial real estate financing and higher for longer interest rates, both of which directly affect Arbor Realty Trust's business model and funding costs. At the same time, commentary around credit quality in real estate loans and the resilience of specialized lenders has kept sentiment volatile, helping to explain the choppy price action.</li>
<li>Even after that slide, Arbor Realty Trust currently clocks a valuation score of 5/6, suggesting it screens as undervalued on most of the key checks we run. We will walk through those methods next, before finishing with a way to think about valuation that goes beyond the usual metrics.</li>
</ul>
<div class="lb-trans"><ul>
<li>想知道 Arbor Realty Trust 當前約 $8.87 的股價是被低估的機會還是價值陷阱嗎？讓我們來分析一下這些數字到底在説什麼。</li>
<li>儘管在過去 7 天內小幅上漲 0.2%，但股價在過去 30 天內仍下跌 3.8%，年初至今下跌 35.6%，過去一年下跌 30.6%，五年內僅上漲 6.9%。這自然引發了市場是否過於悲觀的問題。</li>
<li>最近，隨着投資者重新評估商業房地產融資的前景和長期高利率，Arbor Realty Trust 的業務模型和融資成本受到直接影響，股價備受關注。同時，關於房地產貸款的信用質量和專業貸款機構的韌性的評論使得市場情緒波動，幫助解釋了股價的波動。</li>
<li>即使在經歷了下滑後，Arbor Realty Trust 目前的估值評分為 5/6，表明在我們進行的主要檢查中，它被視為被低估。接下來我們將逐步介紹這些方法，最後以一種超越常規指標的方式來思考估值。</li>
</ul>
</div><p>Find out why Arbor Realty Trust's -30.6% return over the last year is lagging behind its peers.</p>
<div class="lb-trans"><p>瞭解為什麼 Arbor Realty Trust 在過去一年中 -30.6% 的回報落後於同行。</p>
</div><h3>Approach 1: Arbor Realty Trust Excess Returns Analysis</h3>
<div class="lb-trans"><h3>方法 1：Arbor Realty Trust 超額回報分析</h3>
</div><p>The Excess Returns model looks at how much profit Arbor Realty Trust generates above the minimum return that equity investors require, and then capitalizes those surplus profits into an implied value per share.</p>
<div class="lb-trans"><p>超額回報模型考察 Arbor Realty Trust 產生的利潤超過股權投資者所需的最低迴報的程度，然後將這些超額利潤資本化為每股隱含價值。</p>
</div><p>For Arbor, the starting point is a Book Value of $12.08 per share and a Stable EPS of $1.34 per share, based on the median return on equity over the past five years. Against a Cost of Equity of $1.09 per share, this leaves an Excess Return of $0.24 per share, supported by an Average Return on Equity of 11.21%. Analysts estimate that the balance sheet will remain robust, with a Stable Book Value estimate of $11.93 per share derived from three analyst forecasts.</p>
<div class="lb-trans"><p>對於 Arbor，起點是每股 $12.08 的賬面價值和每股 $1.34 的穩定每股收益，基於過去五年的股本回報中位數。與每股 $1.09 的股本成本相比，這留下了每股 $0.24 的超額回報，支持的平均股本回報為 11.21%。分析師估計資產負債表將保持穩健，穩定的賬面價值估計為每股 $11.93，來源於三位分析師的預測。</p>
</div><p>Using these inputs in the Excess Returns framework produces an intrinsic value estimate of roughly $16.05 per share. This suggests that Arbor Realty Trust may be about 44.7% undervalued relative to the current price near $8.87. In other words, the market is pricing Arbor as if its ability to earn returns above its cost of equity will erode sharply, which is not reflected in this model’s current assumptions.</p>
<div class="lb-trans"><p>在超額回報框架中使用這些輸入產生的內在價值估計約為每股 $16.05。這表明 Arbor Realty Trust 相對於當前約 $8.87 的價格可能被低估約 44.7%。換句話説，市場將 Arbor 的盈利能力定價為其超過股本成本的回報能力將急劇下降，而這並未反映在該模型當前的假設中。</p>
</div><p><strong>Result: UNDERVALUED</strong></p>
<div class="lb-trans"><p><strong>結果：被低估</strong></p>
</div><p>Our Excess Returns analysis suggests Arbor Realty Trust is undervalued by 44.7%. Track this in your watchlist or portfolio, or discover 907 more undervalued stocks based on cash flows.</p>
<div class="lb-trans"><p>我們的超額回報分析表明 Arbor Realty Trust 被低估了 44.7%。將其添加到您的觀察列表或投資組合中，或發現基於現金流的 907 只被低估的股票。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/c8a42e29-9946-4e7f-bf30-2df74a0a03ce/chart/dcf" alt="" original-src="https://images.simplywall.st/company/c8a42e29-9946-4e7f-bf30-2df74a0a03ce/chart/dcf"/></p>
<p>ABR Discounted Cash Flow as at Dec 2025</p>
<div class="lb-trans"><p>截至 2025 年 12 月的 ABR 折現現金流</p>
</div><p>Head to the Valuation section of our Company Report for more details on how we arrive at this Fair Value for Arbor Realty Trust.</p>
<div class="lb-trans"><p>前往我們公司報告的估值部分，瞭解我們如何得出 Arbor Realty Trust 的公允價值的更多細節。</p>
</div><h3>Approach 2: Arbor Realty Trust Price vs Earnings</h3>
<div class="lb-trans"><h3>方法 2：Arbor Realty Trust 價格與收益</h3>
</div><p>For a profitable company like Arbor Realty Trust, the price to earnings ratio is a useful way to gauge how much investors are willing to pay for each dollar of current earnings. In general, businesses with stronger growth prospects and lower perceived risk can justify a higher PE multiple, while slower growth or higher risk usually means the multiple should sit closer to, or below, the market and industry norms.</p>
<div class="lb-trans"><p>對於像 Arbor Realty Trust 這樣的盈利公司，市盈率是衡量投資者願意為每一美元當前收益支付多少的有用方式。一般來説，具有更強增長前景和較低感知風險的企業可以合理化更高的市盈率，而增長緩慢或風險較高通常意味着市盈率應更接近或低於市場和行業標準。</p>
</div><p>Arbor currently trades on a PE of about 11.37x, which is below both the Mortgage REITs industry average of roughly 13.21x and the broader peer group average of about 13.53x. Simply Wall St also calculates a proprietary Fair Ratio of 14.32x, which is the PE multiple Arbor might reasonably trade at once its earnings growth outlook, risk profile, profit margins, industry characteristics and market cap are all taken into account. This Fair Ratio offers a more tailored benchmark than simple peer or industry comparisons because it explicitly adjusts for company specific fundamentals rather than assuming all REITs deserve similar multiples. Compared with this 14.32x Fair Ratio, Arbor’s 11.37x PE suggests the shares are trading at a discount to what those fundamentals would imply.</p>
<div class="lb-trans"><p>Arbor 目前的市盈率約為 11.37 倍，低於抵押房地產投資信託行業平均約 13.21 倍和更廣泛的同行組平均約 13.53 倍。Simply Wall St 還計算出一個專有的公允比率為 14.32 倍，這是考慮到 Arbor 的盈利增長前景、風險特徵、利潤率、行業特徵和市值後，合理的市盈率。這個公允比率提供了一個比簡單的同行或行業比較更量身定製的基準，因為它明確調整了公司特定的基本面，而不是假設所有房地產投資信託都應享有類似的倍數。與這個 14.32 倍的公允比率相比，Arbor 的 11.37 倍市盈率表明其股票交易價格低於這些基本面所暗示的水平。</p>
</div><p><strong>Result: UNDERVALUED</strong></p>
<div class="lb-trans"><p><strong>結果：被低估</strong></p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/c8a42e29-9946-4e7f-bf30-2df74a0a03ce/chart/pe-multiple-vs-industry" alt="" original-src="https://images.simplywall.st/company/c8a42e29-9946-4e7f-bf30-2df74a0a03ce/chart/pe-multiple-vs-industry"/></p>
<p>NYSE:ABR PE Ratio as at Dec 2025</p>
<div class="lb-trans"><p>截至 2025 年 12 月的 NYSE:ABR 市盈率</p>
</div><p>PE ratios tell one story, but what if the real opportunity lies elsewhere? Discover 1448 companies where insiders are betting big on explosive growth.</p>
<div class="lb-trans"><p>市盈率講述了一個故事，但如果真正的機會在其他地方呢？發現 1448 家內部人士正在大舉押注於爆炸性增長的公司。</p>
</div><h3>Upgrade Your Decision Making: Choose your Arbor Realty Trust Narrative</h3>
<div class="lb-trans"><h3>提升您的決策能力：選擇您的 Arbor Realty Trust 故事</h3>
</div><p>Earlier we mentioned that there is an even better way to understand valuation, so let us introduce you to Narratives, an easy tool on Simply Wall St’s Community page that lets you connect your story about a company with a concrete forecast and a fair value estimate. You can then compare that fair value to today’s price, see whether it looks like a buy or a sell, and have your view automatically update as new news or earnings arrive. For example, one Arbor Realty Trust Narrative might assume that elevated interest rates and slower agency production keep earnings under pressure and justify a fair value close to the most bearish analyst target of about $10.50. Another, more optimistic Narrative could focus on Arbor’s loan resolutions, diversified revenue streams and historical resilience to support assumptions closer to the most bullish target near $15.00. This illustrates how different investors can look at the same facts, plug in different revenue, margin and PE expectations, and end up with very different, but clearly framed, paths from story to numbers to fair value.</p>
<div class="lb-trans"><p>我們之前提到過，有一種更好的方式來理解估值，因此讓我們向您介紹 Narratives，這是 Simply Wall St 社區頁面上的一個簡單工具，讓您將關於公司的故事與具體的預測和公允價值估計相結合。然後，您可以將該公允價值與今天的價格進行比較，看看它是否看起來像是買入或賣出，並在新消息或收益到來時自動更新您的觀點。例如，一個 Arbor Realty Trust 的敍述可能假設高利率和緩慢的代理生產使收益承壓，併合理化接近最悲觀分析師目標約 $10.50 的公允價值。另一個更樂觀的敍述可能集中在 Arbor 的貸款解決方案、多元化收入來源和歷史韌性上，以支持接近最樂觀目標約 $15.00 的假設。這説明不同的投資者如何看待相同的事實，插入不同的收入、利潤率和市盈率預期，最終得出截然不同但清晰框架的故事到數字到公允價值的路徑。</p>
</div><p>Do you think there's more to the story for Arbor Realty Trust? Head over to our Community to see what others are saying!</p>
<div class="lb-trans"><p>您認為 Arbor Realty Trust 的故事還有更多內容嗎？前往我們的社區，看看其他人怎麼説！</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/c8a42e29-9946-4e7f-bf30-2df74a0a03ce/chart/quote-price" alt="" original-src="https://images.simplywall.st/company/c8a42e29-9946-4e7f-bf30-2df74a0a03ce/chart/quote-price"/></p>
<p>NYSE:ABR 1-Year Stock Price Chart</p>
<div class="lb-trans"><p>NYSE:ABR 1 年股票價格走勢圖</p>
</div><p><em>This article by Simply Wall St is general in nature. <strong>We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice.</strong> It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.</em></p>
<div class="lb-trans"><p>這篇來自 Simply Wall St 的文章具有一般性。<strong>我們僅基於歷史數據和分析師預測提供評論，採用無偏見的方法，我們的文章並不旨在提供財務建議。</strong> 它不構成購買或出售任何股票的推薦，也未考慮您的目標或財務狀況。我們的目標是為您提供以基本數據驅動的長期分析。請注意，我們的分析可能未考慮最新的價格敏感公司公告或定性材料。Simply Wall St 在提到的任何股票中均沒有持倉。</p>
</div><p>Mobile Infrastructure for Defense and Disaster</p>
<div class="lb-trans"><p>國防和災難的移動基礎設施</p>
</div><p>The next wave in robotics isn't humanoid. Its fully autonomous towers delivering 5G, ISR, and radar in under 30 minutes, anywhere.</p>
<div class="lb-trans"><p>下一波機器人技術不是類人型的。它是完全自主的塔樓，在 30 分鐘內提供 5G、ISR 和雷達服務，覆蓋任何地方。</p>
</div><p>Get the investor briefing before the next round of contracts</p>
<div class="lb-trans"><p>在下一輪合同之前獲取投資者簡報</p>
</div><p>Sponsored On Behalf of CiTech</p>
<div class="lb-trans"><p>由 CiTech 贊助</p>
</div>

在 2024 年大幅下滑以及基於收益的估值差距後，對 Arbor Realty Trust 進行評估