Apollo Commercial Real Estate Finance (NYSE:ARI - Get Free Report) hit a new 52-week high on Wednesday after the company announced a dividend. The stock 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. Stockholders of record on Tuesday, September 30th will be paid a $0.25 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $1.00 annualized dividend and a dividend yield of 9.2%. Apollo Commercial Real Estate Finance's dividend payout ratio (DPR) is presently -714.29%.
Analyst Upgrades and Downgrades
Several brokerages have recently issued reports on ARI. UBS Group lifted their price target on Apollo Commercial Real Estate Finance from $10.00 to $10.50 and gave the company a "neutral" rating in a research note on Tuesday, July 15th. Keefe, Bruyette & Woods upped their price target on shares of Apollo Commercial Real Estate Finance from $10.50 to $10.75 and gave the stock an "outperform" rating in a report on Thursday, July 10th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, Apollo Commercial Real Estate Finance currently has a consensus rating of "Hold" and an average target price of $10.31.
Get Our Latest Stock Report on ARI
Apollo Commercial Real Estate Finance Stock Down 1.6%
The firm's fifty day moving average price is $10.16 and its 200-day moving average price is $9.75. The company has a market capitalization of $1.50 billion, a price-to-earnings ratio of -77.32, a P/E/G ratio of 0.31 and a beta of 1.57. The company has a debt-to-equity ratio of 0.66, a current ratio of 98.25 and a quick ratio of 98.25.
Insiders Place Their Bets
In related news, CEO Stuart Rothstein sold 52,074 shares of the stock in a transaction on 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 sale, the chief executive officer directly owned 333,854 shares in the company, valued at $3,281,784.82. This represents a 13.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.68% of the stock is owned by insiders.
Institutional Trading of Apollo Commercial Real Estate Finance
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Osaic Holdings Inc. increased 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 valued at $640,000 after purchasing an additional 3,325 shares during the period. State of Wyoming increased its holdings in Apollo Commercial Real Estate Finance by 56.3% in the second quarter. State of Wyoming now owns 40,972 shares of the real estate investment trust's stock valued at $397,000 after purchasing an additional 14,757 shares during the period. Public Sector Pension Investment Board increased its holdings in Apollo Commercial Real Estate Finance by 7.4% in the second 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 period. Tower Research Capital LLC TRC increased its holdings in Apollo Commercial Real Estate Finance by 310.3% in the second 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 period. Finally, Lazard Asset Management LLC acquired a new stake in Apollo Commercial Real Estate Finance in the second quarter valued at $1,368,000. 54.43% of the stock is currently owned by institutional investors and hedge funds.
About Apollo Commercial Real Estate Finance
(
Get Free Report)
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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