Arbor Realty price target lowered to $8 from $9 at JPMorgan

JPMorgan lowered the firm’s price target on Arbor Realty (ABR) to $8 from $9 and keeps an Underweight rating on the shares. The firm adjusted targets in the mortgage real estate investment trust group a part of a Q4 preview. The macro environment for REITs remains “mixed but still favorable,” with the U.S. economy showing resilience even as inflation tracks above policy targets, the analyst tells investors in a research note. JPMorgan keeps a “selective and risk- aware stance across the REIT sector.”