Apollo Commercial Real Estate Finance (NYSE:ARI) Sets New 1-Year High After Dividend Announcement

Key Points

• Shares of Apollo Commercial Real Estate Finance reached a new 52-week high of $11.05, following the announcement of a $0.25 dividend per share, representing a 9.1% yield.
• Analysts have set a consensus price target of $10.31 for the stock, with two Buy ratings and three Hold ratings from various brokerages.
• Institutional investors hold 54.43% of the company's stock, with significant quarterly increases from several hedge funds and investment firms.

Shares of Apollo Commercial Real Estate Finance (NYSE:ARI - Get Free Report) hit a new 52-week high during trading on Wednesday following a dividend announcement from the company. The company traded as high as $11.05 and last traded at $11.03, with a volume of 592475 shares. The stock had previously closed at $10.99.The newly announced dividend which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 9.1%. Apollo Commercial Real Estate Finance's payout ratio is -714.29%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ARI. Keefe, Bruyette & Woods upped their target price on shares of Apollo Commercial Real Estate Finance from $10.50 to $10.75 and gave the company an "outperform" rating in a research report on Thursday, July 10th. UBS Group upped their price objective on Apollo Commercial Real Estate Finance from $10.00 to $10.50 and gave the company a "neutral" rating in a research report on Tuesday, July 15th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Apollo Commercial Real Estate Finance has a consensus rating of "Hold" and a consensus price target of $10.31.

Apollo Commercial Real Estate Finance Stock Up 0.4%

The company has a market cap of $1.53 billion, a PE ratio of -78.79, a P/E/G ratio of 0.32 and a beta of 1.57. The company's 50 day moving average is $10.09 and its 200 day moving average is $9.73. The company has a current ratio of 98.25, a quick ratio of 98.25 and a debt-to-equity ratio of 0.66.

Insider Activity at Apollo Commercial Real Estate Finance

In other news, CEO Stuart Rothstein sold 52,074 shares of the firm's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $9.83, for a total transaction of $511,887.42. Following the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.68% of the company's stock.

Hedge Funds Weigh In On Apollo Commercial Real Estate Finance

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. grew its holdings in Apollo Commercial Real Estate Finance by 5.3% in the second quarter. Osaic Holdings Inc. now owns 66,084 shares of the real estate investment trust's stock worth $640,000 after purchasing an additional 3,325 shares during the last quarter. State of Wyoming grew its holdings in shares of Apollo Commercial Real Estate Finance by 56.3% during the second quarter. State of Wyoming now owns 40,972 shares of the real estate investment trust's stock valued at $397,000 after buying an additional 14,757 shares during the last quarter. Public Sector Pension Investment Board grew its stake in Apollo Commercial Real Estate Finance by 7.4% during the 2nd quarter. Public Sector Pension Investment Board now owns 435,113 shares of the real estate investment trust's stock valued at $4,212,000 after purchasing an additional 29,905 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in Apollo Commercial Real Estate Finance by 310.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 14,411 shares of the real estate investment trust's stock valued at $139,000 after purchasing an additional 10,899 shares during the last quarter. Finally, Lazard Asset Management LLC purchased a new stake in Apollo Commercial Real Estate Finance during the 2nd quarter valued at about $1,368,000. Hedge funds and other institutional investors own 54.43% of the company's stock.

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.

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