Principal Financial Group Inc. cut its stake in Apollo Commercial Real Estate Finance (NYSE:ARI – Free Report) by 25.0% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 640,301 shares of the real estate investment trust’s stock after selling 213,593 shares during the period. Principal Financial Group Inc.’s holdings in Apollo Commercial Real Estate Finance were worth $6,762,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC increased its stake in Apollo Commercial Real Estate Finance by 60.4% in the fourth quarter. GAMMA Investing LLC now owns 2,832 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 1,066 shares during the last quarter. Danske Bank A S bought a new stake in Apollo Commercial Real Estate Finance during the third quarter worth about $50,000. Farther Finance Advisors LLC lifted its stake in Apollo Commercial Real Estate Finance by 60.2% during the fourth quarter. Farther Finance Advisors LLC now owns 5,037 shares of the real estate investment trust’s stock worth $49,000 after purchasing an additional 1,892 shares during the last quarter. Resources Management Corp CT ADV boosted its holdings in shares of Apollo Commercial Real Estate Finance by 47,757.1% in the 4th quarter. Resources Management Corp CT ADV now owns 6,700 shares of the real estate investment trust’s stock worth $65,000 after purchasing an additional 6,686 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its holdings in shares of Apollo Commercial Real Estate Finance by 18.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 7,462 shares of the real estate investment trust’s stock worth $74,000 after purchasing an additional 1,183 shares in the last quarter. Institutional investors own 54.43% of the company’s stock.
Apollo Commercial Real Estate Finance Stock Performance
Shares of ARI stock opened at $6.71 on Tuesday. The firm has a market capitalization of $876.75 million, a price-to-earnings ratio of 8.28 and a beta of 1.35. The stock has a fifty day moving average of $10.11 and a 200 day moving average of $10.43. Apollo Commercial Real Estate Finance has a 52 week low of $6.65 and a 52 week high of $11.24. The company has a quick ratio of 81.80, a current ratio of 81.81 and a debt-to-equity ratio of 0.68.
Apollo Commercial Real Estate Finance Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a $3.75 dividend. This represents a $15.00 annualized dividend and a dividend yield of 223.7%. This is a boost from Apollo Commercial Real Estate Finance’s previous quarterly dividend of $0.25. Apollo Commercial Real Estate Finance’s dividend payout ratio (DPR) is currently 123.46%.
Wall Street Analysts Forecast Growth
ARI has been the topic of a number of research reports. Weiss Ratings cut Apollo Commercial Real Estate Finance from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, July 16th. Zacks Research raised Apollo Commercial Real Estate Finance from a “strong sell” rating to a “hold” rating in a research note on Monday, April 20th. Bank of America assumed coverage on shares of Apollo Commercial Real Estate Finance in a research report on Tuesday, May 5th. They set a “neutral” rating and a $11.50 price target on the stock. BTIG Research downgraded shares of Apollo Commercial Real Estate Finance from a “buy” rating to a “neutral” rating in a research note on Thursday, June 25th. Finally, Wall Street Zen lowered shares of Apollo Commercial Real Estate Finance from a “hold” rating to a “sell” rating in a report on Saturday, May 2nd. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $11.33.
Read Our Latest Report on Apollo Commercial Real Estate Finance
Insider Buying and Selling at Apollo Commercial Real Estate Finance
In related news, Director Carmencita N.M. Whonder sold 4,574 shares of the business’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $10.93, for a total transaction of $49,993.82. Following the transaction, the director owned 24,799 shares in the company, valued at $271,053.07. The trade was a 15.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.52% 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.
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