{ "markdown": "Arbor Has a Consistent Track Record of Book Value\nAppreciation and Outperformance\n\n\n
Arbor has operated with best-in-class performance metrics and significantly outperformed peers in book value appreciation. \n\nThis line chart illustrates the performance of 'ABR BVPS' compared to 'Peer Avg BVPS' over time, from 4Q19 to 4Q25. The y-axis represents a percentage scale from (40%) to 40%. The 'ABR BVPS' line (dark green) shows a significant upward trend, peaking around 4Q23, and ending at 16% by 4Q25. In contrast, the 'Peer Avg BVPS' line (brown) shows a downward trend after an initial period of relative stability, ending at (32%) by 4Q25.
Time PeriodABR BVPSPeer Avg BVPS
4Q190%0%
1Q20(11%)(7%)
2Q20(9%)(7%)
3Q20(5%)(7%)
4Q202%(7%)
1Q217%(7%)
2Q2113%(7%)
3Q2115%(7%)
4Q2123%(3%)
1Q2225%(2%)
2Q2227%(2%)
3Q2227%(4%)
4Q2229%(7%)
1Q2330%(9%)
2Q2330%(11%)
3Q2331%(12%)
4Q2331%(15%)
1Q2430%(19%)
2Q2428%(21%)
3Q2427%(23%)
4Q2426%(25%)
1Q2524%(26%)
2Q2522%(27%)
3Q2521%(28%)
4Q2518%(30%)
\n\nSource: Company filings\nSector peers include ACRE, ARI, BXMT, GPMT, KREF, LADR, RC, STWD and TRTX\n\n\n[LOGO]\n\n\n11\n\n", "structure": { "type": "document", "markdown": null, "children": [ { "type": "page", "page": null, "span": null, "width": null, "height": null, "dpi": null, "grounding": { "page": 1, "range": { "start": 0, "end": 2112 }, "box": { "xmin": 0.0, "ymin": 0.0, "xmax": 1.0, "ymax": 1.0 } }, "markdown": null, "status": "ok", "reason": null, "children": [ { "type": "text", "id": "text-0", "span": null, "grounding": { "page": 1, "range": { "start": 0, "end": 82 }, "box": { "xmin": 0.03053, "ymin": 0.017, "xmax": 0.81359, "ymax": 0.1213 } }, "atomic_grounding": [ { "page": 1, "range": { "start": 0, "end": 50 }, "box": { "xmin": 0.03687, "ymin": 0.01818, "xmax": 0.81049, "ymax": 0.0669 } }, { "page": 1, "range": { "start": 50, "end": 82 }, "box": { "xmin": 0.04103, "ymin": 0.06733, "xmax": 0.56345, "ymax": 0.1176 } } ], "markdown": null, "children": null, "row": null, "col": null, "colspan": null, "rowspan": null }, { "type": "figure", "id": "figure-0", "span": null, "grounding": { "page": 1, "range": { "start": 84, "end": 1996 }, "box": { "xmin": 0.04032, "ymin": 0.13578, "xmax": 0.96063, "ymax": 0.89145 } }, "atomic_grounding": [ { "page": 1, "range": { "start": 84, "end": 1996 }, "box": { "xmin": 0.04032, "ymin": 0.13578, "xmax": 0.96063, "ymax": 0.89145 } } ], "markdown": null, "children": null, "row": null, "col": null, "colspan": null, "rowspan": null }, { "type": "marginalia", "id": "marginalia-0", "span": null, "grounding": { "page": 1, "range": { "start": 1998, "end": 2096 }, "box": { "xmin": 0.0429, "ymin": 0.91235, "xmax": 0.36882, "ymax": 0.95283 } }, "atomic_grounding": [ { "page": 1, "range": { "start": 1998, "end": 2022 }, "box": { "xmin": 0.04623, "ymin": 0.91529, "xmax": 0.14618, "ymax": 0.93062 } }, { "page": 1, "range": { "start": 2022, "end": 2096 }, "box": { "xmin": 0.0458, "ymin": 0.93308, "xmax": 0.36536, "ymax": 0.94792 } } ], "markdown": null, "children": null, "row": null, "col": null, "colspan": null, "rowspan": null }, { "type": "logo", "id": "logo-0", "span": null, "grounding": { "page": 1, "range": { "start": 2098, "end": 2105 }, "box": { "xmin": 0.87215, "ymin": 0.94092, "xmax": 0.92117, "ymax": 0.99296 } }, "atomic_grounding": [ { "page": 1, "range": { "start": 2098, "end": 2105 }, "box": { "xmin": 0.87343, "ymin": 0.94294, "xmax": 0.91822, "ymax": 0.99147 } } ], "markdown": null, "children": null, "row": null, "col": null, "colspan": null, "rowspan": null }, { "type": "marginalia", "id": "marginalia-1", "span": null, "grounding": { "page": 1, "range": { "start": 2107, "end": 2110 }, "box": { "xmin": 0.93918, "ymin": 0.96083, "xmax": 0.95708, "ymax": 0.98013 } }, "atomic_grounding": [ { "page": 1, "range": { "start": 2107, "end": 2110 }, "box": { "xmin": 0.94128, "ymin": 0.96351, "xmax": 0.954, "ymax": 0.97779 } } ], "markdown": null, "children": null, "row": null, "col": null, "colspan": null, "rowspan": null } ] } ] }, "grounding": null, "metadata": { "req_id": null, "job_id": "parse-01m2p7md2yxv6cfgk3cjfx4y98", "model_version": "dpt-3-pro-20260710", "page_count": 1, "markdown_chars": null, "output_markdown_chars": 2159, "range_units": "unicode_codepoints", "openapi_spec": "https://api.ade.landing.ai/openapi.json", "failed_pages": [], "duration_ms": 8864, "billing": { "service_tier": "standard", "total_credits": 1.1 } } }