🔴 Arbor Realty Trust is trading 5% down today after a Citizens downgrade citing higher rates

Arbor Realty Trust is trading 5.02% lower at $3.88 after Citizens downgraded the stock from Market Outperform to Market Perform on September 29, citing higher rates.

• Citizens said higher rates could prolong resolution of problem assets and weigh on earnings, while noting no fundamental issue with the company.
• The broader market was also slightly lower amid weak consumer confidence and fewer-than-expected job openings, though index declines were modest.