AlphaCore Capital LLC Increases Stock Position in Apollo Commercial Real Estate Finance (NYSE:ARI)

Key Points

• AlphaCore Capital LLC significantly increased its position in Apollo Commercial Real Estate Finance, now owning 112,079 shares after acquiring an additional 70,960 shares in the first quarter.
• The company announced a quarterly dividend of $0.25 per share, representing an annualized dividend yield of 10.0%.
• Equities analysts have mixed ratings on the stock, with price targets ranging from $9.00 to $11.00 and an average target price of $10.31.

AlphaCore Capital LLC lifted its position in shares of Apollo Commercial Real Estate Finance (NYSE:ARI - Free Report) by 172.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 112,079 shares of the real estate investment trust's stock after acquiring an additional 70,960 shares during the quarter. AlphaCore Capital LLC owned 0.08% of Apollo Commercial Real Estate Finance worth $1,101,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of ARI. Deutsche Bank AG raised its position in shares of Apollo Commercial Real Estate Finance by 51.0% during the 4th quarter. Deutsche Bank AG now owns 118,656 shares of the real estate investment trust's stock worth $1,028,000 after purchasing an additional 40,088 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Apollo Commercial Real Estate Finance by 130.1% during the 4th quarter. JPMorgan Chase & Co. now owns 480,852 shares of the real estate investment trust's stock worth $4,164,000 after purchasing an additional 271,908 shares during the period. QRG Capital Management Inc. boosted its position in shares of Apollo Commercial Real Estate Finance by 11.1% during the 1st quarter. QRG Capital Management Inc. now owns 67,816 shares of the real estate investment trust's stock worth $649,000 after purchasing an additional 6,787 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in shares of Apollo Commercial Real Estate Finance by 10.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 43,815 shares of the real estate investment trust's stock worth $419,000 after purchasing an additional 4,023 shares during the period. Finally, Millennium Management LLC boosted its position in Apollo Commercial Real Estate Finance by 265.3% in the 4th quarter. Millennium Management LLC now owns 232,627 shares of the real estate investment trust's stock valued at $2,015,000 after buying an additional 168,948 shares during the period. 54.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on ARI shares. Keefe, Bruyette & Woods raised their price target 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 lifted their price target on shares of Apollo Commercial Real Estate Finance from $10.00 to $10.50 and gave the stock a "neutral" rating in a research note on Tuesday, July 15th. BTIG Research upgraded shares of Apollo Commercial Real Estate Finance from a "neutral" rating to a "buy" rating and set a $11.00 price target on the stock 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 note on Tuesday, April 29th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Apollo Commercial Real Estate Finance from $8.00 to $9.00 and gave the stock a "neutral" rating in a research note on Monday, April 28th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Apollo Commercial Real Estate Finance has a consensus rating of "Hold" and an average price target of $10.31.

Insider Buying and Selling

In related news, CEO Stuart Rothstein sold 52,074 shares of the business's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $9.83, for a total transaction of $511,887.42. Following the sale, the chief executive officer owned 333,854 shares of the company's stock, valued at approximately $3,281,784.82. The trade was a 13.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.68% of the company's stock.

Apollo Commercial Real Estate Finance Price Performance

ARI stock traded up $0.01 during trading on Wednesday, reaching $10.05. 332,893 shares of the company were exchanged, compared to its average volume of 1,149,116. The company has a market cap of $1.40 billion, a P/E ratio of -71.75, a PEG ratio of 0.29 and a beta of 1.50. Apollo Commercial Real Estate Finance has a 52-week low of $7.70 and a 52-week high of $10.61. The stock's 50 day moving average price is $9.86 and its 200 day moving average price is $9.59. The company has a debt-to-equity ratio of 0.66, a quick ratio of 98.25 and a current ratio of 98.25.

Apollo Commercial Real Estate Finance Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were issued a dividend of $0.25 per share. 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 10.0%. Apollo Commercial Real Estate Finance's payout ratio is currently -714.29%.

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.