Apollo Commercial Real Estate Finance (NYSE:ARI – Get Free Report) hit a new 52-week low on Thursday . The company traded as low as $6.81 and last traded at $7.0050, with a volume of 1271307 shares traded. The stock had previously closed at $10.54.
Wall Street Analyst Weigh In
A number of analysts recently commented on the stock. Zacks Research upgraded shares of Apollo Commercial Real Estate Finance from a “strong sell” rating to a “hold” rating in a research report on Monday, April 20th. Bank of America started coverage on Apollo Commercial Real Estate Finance in a report on Tuesday, May 5th. They set a “neutral” rating and a $11.50 target price on the stock. BTIG Research cut Apollo Commercial Real Estate Finance from a “buy” rating to a “neutral” rating in a research note on Thursday, June 25th. Weiss Ratings restated a “hold (c)” rating on shares of Apollo Commercial Real Estate Finance in a report on Friday, May 22nd. Finally, Wall Street Zen lowered Apollo Commercial Real Estate Finance from a “hold” rating to a “sell” rating in a research report on Saturday, May 2nd. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Apollo Commercial Real Estate Finance presently has a consensus rating of “Hold” and a consensus target price of $11.33.
Apollo Commercial Real Estate Finance Price Performance
Apollo Commercial Real Estate Finance (NYSE:ARI – Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The real estate investment trust reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.07). The company had revenue of $58.63 million for the quarter, compared to analyst estimates of $77.85 million. Apollo Commercial Real Estate Finance had a return on equity of 7.87% and a net margin of 48.01%. On average, equities research analysts forecast that Apollo Commercial Real Estate Finance will post 0.88 EPS for the current fiscal year.
Apollo Commercial Real Estate Finance Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a dividend of $3.75 per share. 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 dividend yield of 212.0%. Apollo Commercial Real Estate Finance’s dividend payout ratio (DPR) is currently 123.46%.
Insider Activity
In other news, Director Carmencita N.M. Whonder sold 4,574 shares of Apollo Commercial Real Estate Finance stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $10.93, for a total value of $49,993.82. Following the sale, the director directly owned 24,799 shares in the company, valued at $271,053.07. This trade represents a 15.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.52% of the stock is owned by company insiders.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in the business. State Street Corp lifted its position in Apollo Commercial Real Estate Finance by 1.1% during the 4th quarter. State Street Corp now owns 5,298,362 shares of the real estate investment trust’s stock worth $52,588,000 after buying an additional 56,377 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Apollo Commercial Real Estate Finance by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 3,167,013 shares of the real estate investment trust’s stock valued at $30,662,000 after acquiring an additional 9,273 shares in the last quarter. No Street GP LP grew its holdings in shares of Apollo Commercial Real Estate Finance by 33.3% in 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 acquiring an additional 750,000 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Apollo Commercial Real Estate Finance by 6.9% in the third 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 acquiring an additional 134,308 shares during the last quarter. Finally, Invesco Ltd. increased its position in shares of Apollo Commercial Real Estate Finance by 50.4% in the second quarter. Invesco Ltd. now owns 1,291,072 shares of the real estate investment trust’s stock valued at $12,498,000 after acquiring an additional 432,377 shares during the last quarter. Institutional investors own 54.43% of the company’s stock.
Apollo Commercial Real Estate Finance Company Profile
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.
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