Arbor Realty price target lowered to $13 from $13.50 at Citizens JMP

Citizens JMP lowered the firm’s price target on Arbor Realty (ABR) to $13 from $13.50 and keeps an Outperform rating on the shares. Arbor continues to make steady progress on working through non-performing loans, and the company’s other business lines are starting to indicate some momentum, the analyst tells investors in a research note.