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

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

Apollo Commercial Real Estate Finance Stock Up 3.1%

NYSE:ARI traded up $0.21 during mid-day trading on Wednesday, reaching $6.93. The stock had a trading volume of 2,344,199 shares, compared to its average volume of 2,411,531. The company has a market capitalization of $906.19 million, a price-to-earnings ratio of 8.66 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 stock’s 50 day simple moving average is $9.17 and its two-hundred day simple moving average is $10.18. The company has a debt-to-equity ratio of 0.68, a current ratio of 81.81 and a quick ratio of 81.80.

Apollo Commercial Real Estate Finance Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a $3.75 dividend. This represents a $15.00 dividend on an annualized basis and a yield of 216.5%. This is an increase from Apollo Commercial Real Estate Finance’s previous quarterly dividend of $0.25. Apollo Commercial Real Estate Finance’s dividend payout ratio (DPR) is 125.00%.

Wall Street Analyst Weigh In

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

Institutional Trading of Apollo Commercial Real Estate Finance

Several institutional investors and hedge funds have recently bought and sold shares of ARI. Smartleaf Asset Management LLC raised its holdings in shares of Apollo Commercial Real Estate Finance by 18.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 7,462 shares of the real estate investment trust’s stock worth $74,000 after acquiring an additional 1,183 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in Apollo Commercial Real Estate Finance by 8.9% during the second quarter. Envestnet Asset Management Inc. now owns 19,328 shares of the real estate investment trust’s stock valued at $187,000 after purchasing an additional 1,582 shares during the last quarter. Bank of Montreal Can grew its stake in Apollo Commercial Real Estate Finance by 3.1% in the fourth quarter. Bank of Montreal Can now owns 65,945 shares of the real estate investment trust’s stock valued at $638,000 after purchasing an additional 1,980 shares in the last quarter. Creative Planning grew its stake in Apollo Commercial Real Estate Finance by 12.1% in the third quarter. Creative Planning now owns 19,162 shares of the real estate investment trust’s stock valued at $194,000 after purchasing an additional 2,069 shares in the last quarter. Finally, Private Advisor Group LLC grew its stake in Apollo Commercial Real Estate Finance by 8.8% in the third quarter. Private Advisor Group LLC now owns 28,592 shares of the real estate investment trust’s stock valued at $290,000 after purchasing an additional 2,301 shares in the last quarter. Institutional investors and hedge funds own 54.43% of the company’s stock.

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.