Apollo Commercial Real Est. Finance (ARI) Lowered to Hold at Zacks Investment Research

Zacks Investment Research cut shares of Apollo Commercial Real Est. Finance (NYSE:ARI) from a buy rating to a hold rating in a research report released on Tuesday, September 25th.

According to Zacks, “Apollo Commercial Real Estate Finance, Inc. is focused on investing in, acquiring and managing senior performing commercial real estate mortgage loans, commercial mortgage-backed securities, commercial real estate corporate debt and loans, and other real estate debt investments. The Company is a commercial real estate finance company that is managed and advised by ACREFI Management, LLC, a indirect subsidiary of Apollo Global Management, LLC. “

Shares of NYSE:ARI opened at $18.40 on Tuesday. Apollo Commercial Real Est. Finance has a 12 month low of $17.56 and a 12 month high of $19.57. The stock has a market cap of $2.32 billion, a PE ratio of 11.95 and a beta of 0.48. The company has a quick ratio of 46.70, a current ratio of 46.70 and a debt-to-equity ratio of 0.25.

Apollo Commercial Real Est. Finance (NYSE:ARI) last announced its earnings results on Wednesday, July 25th. The real estate investment trust reported $0.44 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.03. Apollo Commercial Real Est. Finance had a net margin of 78.14% and a return on equity of 9.77%. The business had revenue of $70.77 million during the quarter, compared to the consensus estimate of $72.58 million. During the same quarter last year, the firm earned $0.46 earnings per share. The business’s revenue for the quarter was up 13.7% on a year-over-year basis. On average, equities analysts anticipate that Apollo Commercial Real Est. Finance will post 1.73 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Friday, September 28th will be issued a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 10.00%. The ex-dividend date of this dividend is Thursday, September 27th. Apollo Commercial Real Est. Finance’s dividend payout ratio is currently 119.48%.

In related news, Director Scott Prince sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, August 24th. The shares were sold at an average price of $19.36, for a total value of $580,800.00. Following the sale, the director now owns 45,132 shares in the company, valued at $873,755.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark C. Biderman sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $19.45, for a total transaction of $194,500.00. Following the completion of the sale, the director now owns 56,718 shares in the company, valued at approximately $1,103,165.10. The disclosure for this sale can be found here. Company insiders own 0.65% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. State Treasurer State of Michigan increased its holdings in Apollo Commercial Real Est. Finance by 14.2% in the 2nd quarter. State Treasurer State of Michigan now owns 5,919,968 shares of the real estate investment trust’s stock valued at $108,217,000 after acquiring an additional 735,000 shares during the last quarter. LSV Asset Management increased its holdings in Apollo Commercial Real Est. Finance by 3.5% in the 2nd quarter. LSV Asset Management now owns 1,896,615 shares of the real estate investment trust’s stock valued at $34,670,000 after acquiring an additional 64,771 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Apollo Commercial Real Est. Finance by 3.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,528,232 shares of the real estate investment trust’s stock valued at $27,936,000 after acquiring an additional 57,512 shares during the last quarter. Northern Trust Corp increased its holdings in Apollo Commercial Real Est. Finance by 11.3% in the 2nd quarter. Northern Trust Corp now owns 1,435,612 shares of the real estate investment trust’s stock valued at $26,243,000 after acquiring an additional 145,726 shares during the last quarter. Finally, Global X Management Co LLC increased its holdings in Apollo Commercial Real Est. Finance by 3.9% in the 2nd quarter. Global X Management Co LLC now owns 1,112,303 shares of the real estate investment trust’s stock valued at $20,333,000 after acquiring an additional 42,219 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

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.

Read More: Understanding Analyst Recommendations

Get a free copy of the Zacks research report on Apollo Commercial Real Est. Finance (ARI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Apollo Commercial Real Est. Finance Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apollo Commercial Real Est. Finance and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply