Apollo Commercial Real Est. Finance Inc (NYSE:ARI) declared a quarterly dividend on Thursday, September 13th, Wall Street Journal reports. Shareholders of record on Friday, September 28th will be paid a dividend of 0.46 per share by the real estate investment trust on Monday, October 15th. This represents a $1.84 annualized dividend and a yield of 9.85%. The ex-dividend date of this dividend is Thursday, September 27th.
Apollo Commercial Real Est. Finance has increased its dividend payment by an average of 4.8% annually over the last three years. Apollo Commercial Real Est. Finance has a dividend payout ratio of 106.4% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Apollo Commercial Real Est. Finance to earn $1.95 per share next year, which means the company should continue to be able to cover its $1.84 annual dividend with an expected future payout ratio of 94.4%.
Shares of ARI traded up $0.02 during trading hours on Friday, reaching $18.68. 914,989 shares of the company’s stock traded hands, compared to its average volume of 1,379,279. The company has a market cap of $2.32 billion, a PE ratio of 12.13 and a beta of 0.48. The company has a current ratio of 46.70, a quick ratio of 46.70 and a debt-to-equity ratio of 0.25. Apollo Commercial Real Est. Finance has a 12 month low of $17.56 and a 12 month high of $19.57.
Apollo Commercial Real Est. Finance (NYSE:ARI) last released its earnings results on Wednesday, July 25th. The real estate investment trust reported $0.44 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.03. The company had revenue of $70.77 million during the quarter, compared to the consensus estimate of $72.58 million. Apollo Commercial Real Est. Finance had a return on equity of 9.77% and a net margin of 78.14%. Apollo Commercial Real Est. Finance’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.46 EPS. As a group, analysts predict that Apollo Commercial Real Est. Finance will post 1.73 earnings per share for the current year.
In other news, Director Scott Prince sold 30,000 shares of the company’s stock in a transaction on Friday, August 24th. The stock was sold at an average price of $19.36, for a total transaction of $580,800.00. Following the transaction, the director now directly owns 45,132 shares of the company’s stock, valued at $873,755.52. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Mark C. Biderman sold 10,000 shares of the company’s stock in a transaction on Monday, August 27th. The shares were sold at an average price of $19.45, for a total value of $194,500.00. Following the transaction, the director now directly owns 56,718 shares in the company, valued at $1,103,165.10. The disclosure for this sale can be found here. 0.65% of the stock is currently owned by insiders.
Separately, Zacks Investment Research raised Apollo Commercial Real Est. Finance from a “hold” rating to a “buy” rating and set a $21.00 price target on the stock in a research note on Tuesday, July 31st. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Apollo Commercial Real Est. Finance has an average rating of “Hold” and a consensus target price of $21.00.
About Apollo Commercial Real Est. Finance
Apollo Commercial Real Estate Finance, Inc operates as a real estate investment trust (REIT) that primarily 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 company is qualified as a REIT under the Internal Revenue Code.
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