Advisors Asset Management Inc. Cuts Stock Position in Apollo Commercial Real Estate Finance $ARI

Key Points

• Advisors Asset Management Inc. reduced its stake in Apollo Commercial Real Estate Finance by 6.9%, selling 37,988 shares and retaining 514,598 shares worth approximately $4.9 million as of its latest SEC filing.
• CEO Stuart Rothstein sold 52,074 shares of the company’s stock, representing a 13.49% decrease in his position, valued at around $511,887.
• The company announced a quarterly dividend of $0.25 per share with a >dividend yield of 9.2%, despite a negative dividend payout ratio of -714.29%.

Advisors Asset Management Inc. reduced its position in shares of Apollo Commercial Real Estate Finance (NYSE:ARI - Free Report) by 6.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 514,598 shares of the real estate investment trust's stock after selling 37,988 shares during the quarter. Advisors Asset Management Inc. owned about 0.37% of Apollo Commercial Real Estate Finance worth $4,925,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ARI. Versant Capital Management Inc boosted its position in shares of Apollo Commercial Real Estate Finance by 57.9% during the 1st quarter. Versant Capital Management Inc now owns 3,425 shares of the real estate investment trust's stock valued at $33,000 after acquiring an additional 1,256 shares during the last quarter. CWM LLC lifted its position in Apollo Commercial Real Estate Finance by 39.2% in the first quarter. CWM LLC now owns 3,858 shares of the real estate investment trust's stock worth $37,000 after buying an additional 1,087 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in Apollo Commercial Real Estate Finance by 94.1% in the first quarter. Smartleaf Asset Management LLC now owns 5,909 shares of the real estate investment trust's stock worth $57,000 after buying an additional 2,864 shares during the last quarter. Accuvest Global Advisors bought a new stake in Apollo Commercial Real Estate Finance in the first quarter worth $107,000. Finally, Cerity Partners LLC bought a new stake in Apollo Commercial Real Estate Finance in the first quarter worth $111,000. 54.43% of the stock is currently owned by institutional investors.

Apollo Commercial Real Estate Finance Stock Performance

ARI stock traded down $0.03 during trading on Wednesday, hitting $11.00. 116,311 shares of the company traded hands, compared to its average volume of 1,103,299. The stock's 50-day simple moving average is $10.09 and its 200 day simple moving average is $9.73. The company has a debt-to-equity ratio of 0.66, a current ratio of 98.25 and a quick ratio of 98.25. The company has a market cap of $1.53 billion, a PE ratio of -78.54, a P/E/G ratio of 0.32 and a beta of 1.57. Apollo Commercial Real Estate Finance has a 1 year low of $7.70 and a 1 year high of $11.09.

Apollo Commercial Real Estate Finance Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 9.1%. Apollo Commercial Real Estate Finance's dividend payout ratio is currently -714.29%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ARI. UBS Group raised their price target on Apollo Commercial Real Estate Finance from $10.00 to $10.50 and gave the stock a "neutral" rating in a research report on Tuesday, July 15th. Keefe, Bruyette & Woods raised their price target 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. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $10.31.

Insiders Place Their Bets

In related news, CEO Stuart Rothstein sold 52,074 shares of Apollo Commercial Real Estate Finance stock in a transaction that occurred 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 completion of the transaction, the chief executive officer directly 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.68% of the company's stock.

Apollo Commercial Real Estate Finance 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.