UNIONDALE, N.Y. (AP) _ Arbor Realty Trust (ABR) on Friday reported first-quarter net income of $69.5 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Uniondale, New York-based company said it had net income of 55 cents. Earnings, adjusted for one-time gains and costs, were 52 cents per share.

The real estate investment trust posted revenue of $91.1 million in the period.

Arbor Realty Trust shares have climbed 22% since the beginning of the year. The stock has more than doubled in the last 12 months.

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