Novare Capital Management LLC Sells 7,350 Shares of Apollo Commercial Real Estate Finance $ARI

Novare Capital Management LLC reduced its position in Apollo Commercial Real Estate Finance (NYSE:ARI) by 12.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,750 shares of the real estate investment trust’s stock after selling 7,350 shares during the quarter. Novare Capital Management LLC’s holdings in Apollo Commercial Real Estate Finance were worth $491,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its position in shares of Apollo Commercial Real Estate Finance by 2.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,326,569 shares of the real estate investment trust’s stock worth $22,265,000 after purchasing an additional 63,191 shares during the period. QRG Capital Management Inc. boosted its position in shares of Apollo Commercial Real Estate Finance by 11.1% in the first quarter. QRG Capital Management Inc. now owns 67,816 shares of the real estate investment trust’s stock worth $649,000 after purchasing an additional 6,787 shares during the period. State of Wyoming bought a new position in shares of Apollo Commercial Real Estate Finance in the first quarter worth approximately $251,000. Wealth Enhancement Advisory Services LLC boosted its position in shares of Apollo Commercial Real Estate Finance by 10.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 43,815 shares of the real estate investment trust’s stock worth $419,000 after purchasing an additional 4,023 shares during the period. Finally, Nuveen LLC bought a new position in shares of Apollo Commercial Real Estate Finance in the first quarter worth approximately $7,813,000. 54.43% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Apollo Commercial Real Estate Finance news, CEO Stuart Rothstein sold 52,073 shares of the stock in a transaction on Monday, September 15th. The shares were sold at an average price of $10.78, for a total transaction of $561,346.94. Following the completion of the transaction, the chief executive officer owned 281,781 shares in the company, valued at $3,037,599.18. This trade represents a 15.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.68% of the stock is owned by company insiders.

Apollo Commercial Real Estate Finance Price Performance

Shares of NYSE:ARI opened at $9.97 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 98.25 and a current ratio of 98.25. The firm has a fifty day moving average price of $10.34 and a 200 day moving average price of $9.81. Apollo Commercial Real Estate Finance has a fifty-two week low of $7.70 and a fifty-two week high of $11.11. The firm has a market cap of $1.39 billion, a price-to-earnings ratio of -71.21, a P/E/G ratio of 0.29 and a beta of 1.60.

Apollo Commercial Real Estate Finance (NYSE:ARI) last released its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $0.24 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.02). Apollo Commercial Real Estate Finance had a negative net margin of 1.49% and a positive return on equity of 8.42%. The business had revenue of $43.07 million for the quarter, compared to the consensus estimate of $48.40 million. As a group, sell-side analysts expect that Apollo Commercial Real Estate Finance will post 0.63 earnings per share for the current fiscal year.

Apollo Commercial Real Estate Finance Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were given a dividend of $0.25 per share. The ex-dividend date was Tuesday, September 30th. This represents a $1.00 annualized dividend and a yield of 10.0%. Apollo Commercial Real Estate Finance’s dividend payout ratio (DPR) is -714.29%.

Analyst Upgrades and Downgrades

ARI has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods upped their price target on shares of Apollo Commercial Real Estate Finance from $10.75 to $11.00 and gave the stock an “outperform” rating in a research report on Thursday, October 9th. Weiss Ratings upgraded shares of Apollo Commercial Real Estate Finance from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, October 8th. Zacks Research lowered shares of Apollo Commercial Real Estate Finance from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 16th. Finally, UBS Group upped their target price on shares of Apollo Commercial Real Estate Finance from $10.00 to $10.50 and gave the stock a “neutral” rating in a research report on Tuesday, July 15th. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $10.38.

Apollo Commercial Real Estate Finance Company Profile

Apollo Commercial Real Estate Finance, Inc operates as a real estate investment trust (REIT) that originates, acquires, invests in, and manages commercial first mortgage loans, subordinate financings, and other commercial real estate-related debt investments in the United States, the United Kingdom, and Europe.