Readystate Asset Management LP acquired a new stake in Apollo Commercial Real Estate Finance (NYSE:ARI – Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 450,770 shares of the real estate investment trust’s stock, valued at approximately $4,760,000.
Several other institutional investors and hedge funds also recently modified their holdings of ARI. AQR Capital Management LLC grew its stake in shares of Apollo Commercial Real Estate Finance by 43.4% in the first quarter. AQR Capital Management LLC now owns 21,016 shares of the real estate investment trust’s stock valued at $201,000 after buying an additional 6,358 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in Apollo Commercial Real Estate Finance by 8.9% during the 2nd quarter. Envestnet Asset Management Inc. now owns 19,328 shares of the real estate investment trust’s stock worth $187,000 after acquiring an additional 1,582 shares in the last quarter. Creative Planning lifted its position in Apollo Commercial Real Estate Finance by 14.5% during the 2nd quarter. Creative Planning now owns 17,093 shares of the real estate investment trust’s stock worth $165,000 after acquiring an additional 2,166 shares in the last quarter. Norges Bank purchased a new position in Apollo Commercial Real Estate Finance in the 2nd quarter worth approximately $1,146,000. Finally, Invesco Ltd. boosted its holdings in 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 acquiring an additional 432,377 shares during the period. Hedge funds and other institutional investors own 54.43% of the company’s stock.
Apollo Commercial Real Estate Finance Stock Up 0.8%
ARI stock opened at $6.75 on Wednesday. Apollo Commercial Real Estate Finance has a twelve month low of $6.65 and a twelve month high of $11.24. The company has a current ratio of 81.81, a quick ratio of 81.80 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $881.98 million, a P/E ratio of 8.33 and a beta of 1.35. The firm has a 50 day simple moving average of $10.03 and a 200-day simple moving average of $10.41.
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 222.4%. This is an increase from Apollo Commercial Real Estate Finance’s previous quarterly dividend of $0.25. Apollo Commercial Real Estate Finance’s payout ratio is presently 123.46%.
Insider Buying and Selling at Apollo Commercial Real Estate Finance
In other news, Director Carmencita N.M. Whonder sold 4,574 shares of the company’s stock in a transaction dated 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 owned 24,799 shares in the company, valued at approximately $271,053.07. This represents a 15.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.52% of the company’s stock.
Analyst Ratings Changes
ARI has been the topic of a number of analyst reports. BTIG Research lowered shares of Apollo Commercial Real Estate Finance from a “buy” rating to a “neutral” rating in a research note on Thursday, June 25th. Weiss Ratings downgraded shares of Apollo Commercial Real Estate Finance from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, July 16th. Zacks Research raised shares of Apollo Commercial Real Estate Finance from a “strong sell” rating to a “hold” rating in a report on Monday, April 20th. Bank of America assumed coverage on shares of Apollo Commercial Real Estate Finance in a research note on Tuesday, May 5th. They set a “neutral” rating and a $11.50 price target on the stock. 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 given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $11.33.
Read Our Latest Stock Analysis on ARI
Apollo Commercial Real Estate Finance 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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