Apollo Commercial Real Estate Finance (NYSE:ARI) Issues 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 earnings results on Tuesday. The real estate investment trust reported $0.24 earnings per share for the quarter, missing analysts' consensus estimates of $0.26 by ($0.02), Zacks reports. The business had revenue of $43.07 million for the quarter, compared to the consensus estimate of $48.40 million. Apollo Commercial Real Estate Finance had a positive return on equity of 8.42% and a negative net margin of 1.49%.

Apollo Commercial Real Estate Finance Price Performance

Apollo Commercial Real Estate Finance stock traded up $0.15 during midday trading on Friday, hitting $9.77. 1,756,026 shares of the company's stock were exchanged, compared to its average volume of 1,095,447. The company has a market cap of $1.36 billion, a P/E ratio of -69.79, a PEG ratio of 0.26 and a beta of 1.50. The company has a debt-to-equity ratio of 0.66, a quick ratio of 74.89 and a current ratio of 98.25. The stock has a 50-day moving average price of $9.84 and a two-hundred day moving average price of $9.54. Apollo Commercial Real Estate Finance has a 52-week low of $7.70 and a 52-week high of $10.61.

Apollo Commercial Real Estate Finance Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $1.00 annualized dividend and a yield of 10.2%. Apollo Commercial Real Estate Finance's dividend payout ratio (DPR) is currently -714.29%.

Insider Buying and Selling at Apollo Commercial Real Estate Finance

In other news, CEO Stuart Rothstein sold 52,074 shares of Apollo Commercial Real Estate Finance stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $9.83, for a total transaction of $511,887.42. Following the completion of the sale, the chief executive officer owned 333,854 shares in the company, valued at approximately $3,281,784.82. This trade represents a 13.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.68% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Apollo Commercial Real Estate Finance stock. AQR Capital Management LLC grew its stake in Apollo Commercial Real Estate Finance (NYSE:ARI - Free Report) by 43.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,016 shares of the real estate investment trust's stock after buying an additional 6,358 shares during the period. AQR Capital Management LLC's holdings in Apollo Commercial Real Estate Finance were worth $201,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 54.43% of the company's stock.

Wall Street Analysts Forecast Growth

ARI has been the topic of a number of recent research reports. Wall Street Zen cut shares of Apollo Commercial Real Estate Finance from a "buy" rating to a "hold" rating in a research note on Wednesday, April 23rd. JMP Securities restated a "market perform" rating on shares of Apollo Commercial Real Estate Finance in a research report on Tuesday, April 29th. BTIG Research upgraded Apollo Commercial Real Estate Finance from a "neutral" rating to a "buy" rating and set a $11.00 price target for the company in a research report on Wednesday, April 23rd. 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 research note on Thursday, July 10th. Finally, JPMorgan Chase & Co. increased their price objective on Apollo Commercial Real Estate Finance from $8.00 to $9.00 and gave the stock a "neutral" rating in a report on Monday, April 28th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $10.31.

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.