Apollo Commercial Real Estate Finance (NYSE:ARI) Announces Quarterly Earnings Results

Key Points

• Apollo Commercial Real Estate Finance reported $0.24 earnings per share (EPS) for the quarter, missing consensus estimates by $0.02.
• The company announced a quarterly dividend of $0.25, resulting in an annualized dividend yield of 10.21%.
• Several analysts have adjusted their price targets for Apollo Commercial Real Estate Finance, with a consensus target now at $10.31, indicating a general hold rating on the stock.

Apollo Commercial Real Estate Finance (NYSE:ARI - Get Free Report) issued its quarterly earnings results on Tuesday. The real estate investment trust reported $0.24 EPS for the quarter, missing analysts' consensus estimates of $0.26 by ($0.02), Zacks reports. Apollo Commercial Real Estate Finance had a positive return on equity of 8.42% and a negative net margin of 1.49%. The firm had revenue of $43.07 million for the quarter, compared to analyst estimates of $48.40 million.

Apollo Commercial Real Estate Finance Price Performance

NYSE ARI traded up $0.10 during trading hours on Friday, reaching $9.72. The company's stock had a trading volume of 367,518 shares, compared to its average volume of 1,165,021. The firm has a market capitalization of $1.35 billion, a price-to-earnings ratio of -69.32, a P/E/G ratio of 0.26 and a beta of 1.46. Apollo Commercial Real Estate Finance has a 1-year low of $7.70 and a 1-year high of $10.61. The company has a debt-to-equity ratio of 0.66, a current ratio of 98.25 and a quick ratio of 74.89. The company's 50-day moving average is $9.83 and its two-hundred day moving average is $9.53.

Apollo Commercial Real Estate Finance Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $1.00 dividend on an annualized basis and a yield of 10.3%. Apollo Commercial Real Estate Finance's dividend payout ratio is presently -3,333.33%.

Wall Street Analysts Forecast Growth

ARI has been the subject of several analyst reports. UBS Group boosted their price objective on Apollo Commercial Real Estate Finance from $10.00 to $10.50 and gave the company a "neutral" rating in a report on Tuesday, July 15th. Keefe, Bruyette & Woods boosted their price objective on Apollo Commercial Real Estate Finance from $10.50 to $10.75 and gave the company an "outperform" rating in a report on Thursday, July 10th. JPMorgan Chase & Co. boosted their price objective on Apollo Commercial Real Estate Finance from $8.00 to $9.00 and gave the company a "neutral" rating in a report on Monday, April 28th. JMP Securities reissued a "market perform" rating on shares of Apollo Commercial Real Estate Finance in a report on Tuesday, April 29th. Finally, BTIG Research raised Apollo Commercial Real Estate Finance from a "neutral" rating to a "buy" rating and set a $11.00 price objective for the company in a report on Wednesday, April 23rd. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $10.31.

Insiders Place Their Bets

In related news, CEO Stuart Rothstein sold 52,074 shares of the company's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $9.83, for a total value of $511,887.42. Following the completion of the transaction, the chief executive officer owned 333,854 shares of the company's stock, valued at approximately $3,281,784.82. This represents a 13.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.68% of the company's stock.

Hedge Funds Weigh In On Apollo Commercial Real Estate Finance

A hedge fund recently raised its stake in Apollo Commercial Real Estate Finance stock. Envestnet Asset Management Inc. increased its holdings in Apollo Commercial Real Estate Finance (NYSE:ARI - Free Report) by 8.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 19,328 shares of the real estate investment trust's stock after purchasing an additional 1,582 shares during the quarter. Envestnet Asset Management Inc.'s holdings in Apollo Commercial Real Estate Finance were worth $187,000 at the end of the most recent reporting period. 54.43% of the stock is owned by institutional investors and hedge funds.

About Apollo Commercial Real Estate Finance

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.