Apollo Commercial Real Estate Finance (NYSE:ARI) Given New $11.00 Price Target at JPMorgan Chase & Co.

Apollo Commercial Real Estate Finance (NYSE:ARI) had its target price lifted by equities researchers at JPMorgan Chase & Co. from $10.50 to $11.00 in a report released on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 13.68% from the stock’s current price.

A number of other brokerages have also commented on ARI. Zacks Research lowered Apollo Commercial Real Estate Finance from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 16th. Keefe, Bruyette & Woods raised their price objective on shares of Apollo Commercial Real Estate Finance from $10.75 to $11.00 and gave the company an “outperform” rating in a research note on Thursday, October 9th. UBS Group upped their target price on shares of Apollo Commercial Real Estate Finance from $10.00 to $10.50 and gave the company a “neutral” rating in a research report on Tuesday, July 15th. Finally, Weiss Ratings cut Apollo Commercial Real Estate Finance from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, October 24th. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $10.88.

Apollo Commercial Real Estate Finance Price Performance

ARI traded down $0.11 during trading on Monday, hitting $9.68. The company’s stock had a trading volume of 118,033 shares, compared to its average volume of 1,065,657. Apollo Commercial Real Estate Finance has a 12 month low of $7.70 and a 12 month high of $11.11. The stock has a market capitalization of $1.34 billion, a price-to-earnings ratio of 10.89, a price-to-earnings-growth ratio of 0.56 and a beta of 1.60. The company has a quick ratio of 90.32, a current ratio of 90.32 and a debt-to-equity ratio of 0.66. The firm’s 50 day moving average price is $10.35 and its two-hundred day moving average price is $9.95.

Insider Activity

In other news, CEO Stuart Rothstein sold 52,073 shares of the business’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $10.78, for a total value of $561,346.94. Following the sale, the chief executive officer directly owned 281,781 shares in the company, valued at $3,037,599.18. The trade was a 15.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.68% of the stock is owned by corporate insiders.

Institutional Trading of Apollo Commercial Real Estate Finance

A number of institutional investors have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC lifted its position in Apollo Commercial Real Estate Finance by 10.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 43,815 shares of the real estate investment trust’s stock worth $419,000 after buying an additional 4,023 shares in the last quarter. Teacher Retirement System of Texas acquired a new position in Apollo Commercial Real Estate Finance during the first quarter valued at approximately $184,000. Principal Financial Group Inc. grew its stake in Apollo Commercial Real Estate Finance by 3.2% in the first quarter. Principal Financial Group Inc. now owns 636,985 shares of the real estate investment trust’s stock valued at $6,096,000 after purchasing an additional 19,871 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Apollo Commercial Real Estate Finance by 1.3% during the 1st quarter. Bank of New York Mellon Corp now owns 1,036,715 shares of the real estate investment trust’s stock worth $9,921,000 after purchasing an additional 13,774 shares during the last quarter. Finally, Penserra Capital Management LLC raised its stake in shares of Apollo Commercial Real Estate Finance by 21.0% during the 1st quarter. Penserra Capital Management LLC now owns 121,682 shares of the real estate investment trust’s stock worth $1,164,000 after purchasing an additional 21,156 shares in the last quarter. Institutional investors own 54.43% of the company’s stock.

About Apollo Commercial Real Estate Finance

Apollo Commercial Real Estate Finance, Inc operates as a real estate investment trust (REIT) that originates, acquires, invests in, and manages commercial first mortgage loans, subordinate financings, and other commercial real estate-related debt investments in the United States, the United Kingdom, and Europe.