Apollo Commercial Real Estate Finance (NYSE:ARI) Issues Earnings Results

Apollo Commercial Real Estate Finance (NYSE:ARI) posted its quarterly earnings results on Monday. The real estate investment trust reported ($2.62) EPS for the quarter, FiscalAI reports. The company had revenue of $44.38 million during the quarter. Apollo Commercial Real Estate Finance had a return on equity of 6.80% and a net margin of 55.49%.

Apollo Commercial Real Estate Finance Stock Up 3.3%

NYSE ARI traded up $0.22 during mid-day trading on Wednesday, reaching $6.94. The stock had a trading volume of 2,518,903 shares, compared to its average volume of 2,412,360. The stock has a market cap of $907.50 million, a PE ratio of 8.68 and a beta of 1.36. Apollo Commercial Real Estate Finance has a 1 year low of $6.43 and a 1 year high of $11.24. The company has a debt-to-equity ratio of 0.68, a current ratio of 81.81 and a quick ratio of 81.80. The company has a fifty day moving average price of $9.17 and a 200 day moving average price of $10.18.

Apollo Commercial Real Estate Finance Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a $3.75 dividend. This is a boost from Apollo Commercial Real Estate Finance’s previous quarterly dividend of $0.25. This represents a $15.00 annualized dividend and a yield of 216.1%. Apollo Commercial Real Estate Finance’s payout ratio is 125.00%.

Institutional Investors Weigh In On Apollo Commercial Real Estate Finance

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State Street Corp grew its holdings in shares of Apollo Commercial Real Estate Finance by 1.1% in the fourth quarter. State Street Corp now owns 5,298,362 shares of the real estate investment trust’s stock worth $52,588,000 after acquiring an additional 56,377 shares during the period. Geode Capital Management LLC boosted its position in Apollo Commercial Real Estate Finance by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 3,167,013 shares of the real estate investment trust’s stock worth $30,662,000 after purchasing an additional 9,273 shares during the last quarter. No Street GP LP grew its stake in shares of Apollo Commercial Real Estate Finance by 33.3% during the 3rd quarter. No Street GP LP now owns 3,000,000 shares of the real estate investment trust’s stock valued at $30,390,000 after purchasing an additional 750,000 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Apollo Commercial Real Estate Finance by 6.9% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,085,917 shares of the real estate investment trust’s stock valued at $21,130,000 after purchasing an additional 134,308 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in shares of Apollo Commercial Real Estate Finance by 50.4% in the 2nd quarter. Invesco Ltd. now owns 1,291,072 shares of the real estate investment trust’s stock worth $12,498,000 after purchasing an additional 432,377 shares during the period. Hedge funds and other institutional investors own 54.43% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on ARI. Zacks Research downgraded shares of Apollo Commercial Real Estate Finance from a “hold” rating to a “strong sell” rating in a report on Monday, August 3rd. Weiss Ratings downgraded shares of Apollo Commercial Real Estate Finance from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, July 30th. Bank of America started coverage on Apollo Commercial Real Estate Finance in a research report on Tuesday, May 5th. They set a “neutral” rating and a $11.50 price objective on the stock. Wall Street Zen cut Apollo Commercial Real Estate Finance from a “hold” rating to a “sell” rating in a research note on Saturday, May 2nd. Finally, BTIG Research cut shares of Apollo Commercial Real Estate Finance from a “buy” rating to a “neutral” rating in a research report on Thursday, June 25th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Apollo Commercial Real Estate Finance presently has a consensus rating of “Hold” and an average target price of $11.33.

About Apollo Commercial Real Estate Finance

Apollo Commercial Real Estate Finance, Inc (NYSE: ARI) is a real estate finance company structured as a real estate investment trust (REIT). The company focuses on originating, acquiring and managing a diversified portfolio of commercial real estate debt and preferred equity investments. As an externally managed vehicle, ARI leverages the expertise and resources of an affiliate of Apollo Global Management, a leading global alternative investment manager.

ARI’s investment strategy is centered on providing first mortgage loans, mezzanine debt financing, bridge loans and preferred equity across a broad range of property types, including office, retail, industrial and multifamily assets.