These Real Estate Stocks Announced Huge Stock Buybacks Last Quarter

Discover the real estate stocks with the biggest stock buybacks last quarter, Q1 2023



Industry: Reit—Mortgage

New York Mortgage Trust, Inc. (NYMT) recently announced the upsize of its common stock repurchase program, authorizing an additional $200 million for repurchases, bringing the total program size to $246 million. As of March 14, 2023, New York Mortgage Trust had already repurchased approximately $46 million of the originally authorized amount. The decision to authorize the stock buyback may be attributed to various factors such as New York Mortgage Trust's belief in its financial strength and favorable market conditions. Furthermore, NYMT's Board also approved a preferred stock repurchase program, allowing for the repurchase of up to $100 million of New York Mortgage Trust's preferred stock. The timing and extent of the repurchases will depend on market conditions, share price, liquidity, regulatory requirements, and other relevant factors. New York Mortgage Trust anticipates using its current liquidity to fund the preferred stock repurchases.


Industry: Reit—Mortgage

Arbor Realty Trust, Inc. (ABR) recently made an exciting announcement, as its Board of Directors granted approval for a share repurchase program, allowing Arbor Realty Trust to buy back its outstanding common stock. This program authorizes Arbor Realty Trust to repurchase up to $50 million worth of shares. Arbor Realty Trust has the flexibility to acquire shares through different methods, such as open market purchases, privately negotiated transactions, or in accordance with Rule 10b-18 and Rule 10b5-1 under the Securities Exchange Act of 1934. Additionally, the Board of Directors has given the green light to establish Rule 10b5-1 trading plans, which will enable Arbor Realty Trust to buy back shares during periods when it might otherwise face restrictions. The decision to authorize the stock buyback was influenced by various factors, including Arbor Realty Trust's stock performance, market conditions, legal requirements, and other relevant considerations. It's important to note that the share repurchase program is not obligatory, and the timing and amount of repurchases will be determined based on these aforementioned factors. The program has no specified time limit and can be adjusted, halted, or terminated as needed.


Industry: Reit—Diversified

Gladstone Commercial Corporation (GOOD) recently made an announcement that its board of directors has approved a share repurchase program, authorizing the buyback of up to $50,000,000 worth of Gladstone Commercial's common stock. The decision to implement this program stems from a comprehensive analysis and consultation with the board of directors. In line with their capital allocation strategy, Gladstone Commercial aims to prioritize the best interests of its shareholders and overall business. Given the current market volatility, th Gladstone Commercial perceives an advantageous opportunity to acquire its common stock at favorable prices. President Buzz Cooper stated that this strategic use of capital through stock repurchases is seen as a beneficial step. It's important to note that the authorization is effective until March 20, 2024, with the flexibility for Gladstone Commercial to suspend or discontinue the program at any time, without any obligation to acquire a specific amount of stock.


Industry: Reit—Retail

Regency Centers Corporation ("Regency" or the "Company") announced its fourth quarter and full-year 2022 financial and operating results, showcasing strong performance. Regency reported net income of $0.56 per diluted share for Q4 2022 and $2.81 per diluted share for the full year, demonstrating growth compared to the previous year. Regency's Nareit FFO (Funds From Operations) was $1.05 per diluted share for Q4 and $4.10 per diluted share for the full year. Regency's Core Operating Earnings were $0.98 per diluted share for Q4 and $3.83 per diluted share for the full year. Regency experienced positive portfolio performance, with an increase in Same Property NOI (Net Operating Income) and occupancy rates. Notably, Regency was included on Newsweek's 2023 Most Responsible Companies List. Capitalizing on its financial strength and positive momentum, Regency authorized a new share repurchase program of up to $250 million, demonstrating confidence in its future prospects. The program will run until February 7, 2025, with the timing and price of share repurchases subject to market conditions.


Industry: Reit—Hotel & Motel

Park Hotels & Resorts Inc. ("Park" or the "Company") announced strong fourth-quarter results, surpassing expectations. The positive trends continued into early 2023, with group business accelerating and increasing revenue. Park Hotels & Resorts's average rates at resort and airport hotels exceeded 2019 levels, and business transient demand continued to grow. Park executed its capital allocation priorities by completing non-core asset sales, repurchasing common stock, and repaying debt, further enhancing financial flexibility. Recent developments include the reopening of previously suspended hotels, Moody's Investors Service upgrading Park's outlook to Stable, and the conversion of Casa Marina Key West to a Curio. Park Hotels & Resorts authorized a stock buyback of nearly $260 million, in addition to other strategic initiatives.


Industry: Reit—Diversified

Broadstone Net Lease, Inc. (BNL) has recently authorized a stock buyback program, allowing the repurchase of up to $150 million of its outstanding common stock. This strategic decision was made by Broadstone's Board of Directors to optimize shareholder value and capitalize on potential market opportunities. The stock repurchase may occur through various channels, including open market transactions, block purchases, or privately negotiated deals, adhering to federal securities laws and legal requirements. The decision to execute purchases under the Program will depend on factors such as economic conditions, market dynamics, stock price, and applicable regulations. BNL retains the flexibility to suspend or discontinue the Program at its discretion.

All data was sourced from LevelFields AI

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