Advisors Asset Management Inc. Sells 37,988 Shares of 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. trimmed its position in Apollo Commercial Real Estate Finance (NYSE:ARI - Free Report) by 6.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (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 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 have also added to or reduced their stakes in ARI. Cubist Systematic Strategies LLC bought a new stake in shares of Apollo Commercial Real Estate Finance during the first quarter worth $345,000. Cura Wealth Advisors LLC grew its stake in shares of Apollo Commercial Real Estate Finance by 23.0% during the first quarter. Cura Wealth Advisors LLC now owns 847,300 shares of the real estate investment trust's stock worth $8,109,000 after buying an additional 158,200 shares during the last quarter. Palogic Value Management L.P. grew its stake in shares of Apollo Commercial Real Estate Finance by 6.4% during the first quarter. Palogic Value Management L.P. now owns 127,835 shares of the real estate investment trust's stock worth $1,223,000 after buying an additional 7,701 shares during the last quarter. State of Wyoming bought a new stake in shares of Apollo Commercial Real Estate Finance during the first quarter worth $251,000. Finally, Samalin Investment Counsel LLC grew its stake in shares of Apollo Commercial Real Estate Finance by 27.3% during the first quarter. Samalin Investment Counsel LLC now owns 76,485 shares of the real estate investment trust's stock worth $732,000 after buying an additional 16,394 shares during the last quarter. 54.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ARI has been the topic of a number of research reports. UBS Group boosted their target price 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. Keefe, Bruyette & Woods boosted their target price on shares of Apollo Commercial Real Estate Finance from $10.50 to $10.75 and gave the stock an "outperform" rating in a research note on Thursday, July 10th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $10.31.

Insiders Place Their Bets

In other Apollo Commercial Real Estate Finance news, CEO Stuart Rothstein sold 52,074 shares of Apollo Commercial Real Estate Finance stock in a transaction on Monday, June 16th. The shares were 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 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 document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.68% of the company's stock.

Apollo Commercial Real Estate Finance Trading Up 0.4%

ARI stock traded up $0.04 during midday trading on Tuesday, hitting $11.03. The stock had a trading volume of 592,390 shares, compared to its average volume of 1,108,953. The firm has a market cap of $1.53 billion, a P/E ratio of -78.79, a price-to-earnings-growth ratio of 0.32 and a beta of 1.57. The company has a current ratio of 98.25, a quick ratio of 98.25 and a debt-to-equity ratio of 0.66. Apollo Commercial Real Estate Finance has a 1-year low of $7.70 and a 1-year high of $11.05. The business has a fifty day moving average price of $10.07 and a two-hundred day moving average price of $9.72.

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.