, chairman and CEO of New York-based Omega Advisors, has
purchased shares of two new companies: Arbor Realty Trust (
) and Home Loan Servicing Solutions Ltd. (
), according to
GuruFocus Real Time Picks
Cooperman took an 8.23% stake in Arbor Realty Trust, equal to
2,572,136 shares, at an average purchase price of $7.14, in a
transaction that took place on Feb. 8.
New York-based Arbor Realty Trust focuses on a variety of real
estate-related investments, from mortgage-based loans to equity
investments. In the last year, its market value has increased by
The trust released its third quarter results on Nov. 2, in which
it reported net income of $2.1 million, or $0.07 per share,
compared to a net loss of $2.4 million, or $0.10 per share, the
previous year. It also had interest income of $20.03 million,
compared to $18.52 million the previous year.
The trust was also the first to bring a collateralized debt
obligation (CDO), a risky asset that played a key role in the
global financial meltdown of 2007, to market in 2013, according
to Reuters. It is offering $260 million worth of the securities.
Arbor Realty Trust, a real estate investment trust (REIT), pays a
dividend of $0.11 quarterly. Its P/E stands at 2.1, P/B at 0.9
and P/S of 1.8.
His second buy was a 2.03% stake in Home Loan Servicing Solutions
Ltd. on Dec. 31. He purchased 620,000 shares for $18.78 on
average. The stock, up 17% since then, is trading for $22 per
share on Friday afternoon.
Home Loan Servicing Solutions, based in the Cayman Islands, owns
non-agency mortgage servicing assets collateralized by
residential real estate and has been in operation for about a
year. In its fourth quarter results released Feb. 7, the company
reported $14.3 million in net income, or $0.44 per ordinary
share, in the fourth quarter, compared to a loss of $191 million,
or a loss of $9.55 per ordinary share, in the fourth quarter of
2011. Fourth quarter revenue totaled $27.64 million.
The company has paid a dividend since its first quarter of
operations. On Feb. 7, its board declared a monthly dividend of
$0.13 per ordinary share for February and March 2013.
"Reflecting on our first year of operations, I believe that we
have delivered on our plan to provide our shareholders with
earnings and dividends that are particularly attractive given the
stability and low risk of our assets which the ABS markets are
starting to reward," said Home Loan Servicing Solutions Chairman
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