Azora Capital LP purchased a new position in shares of Apollo Commercial Real Estate Finance (NYSE:ARI - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 629,909 shares of the real estate investment trust's stock, valued at approximately $6,727,000. Azora Capital LP owned about 0.49% of Apollo Commercial Real Estate Finance at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the business. Bank of America Corp DE bought a new position in Apollo Commercial Real Estate Finance in the 2nd quarter worth $3,654,000. Jupiter Topco LLC bought a new stake in Apollo Commercial Real Estate Finance during the second quarter valued at about $636,000. Legal & General Group Plc purchased a new stake in Apollo Commercial Real Estate Finance in the second quarter worth about $1,347,000. The Manufacturers Life Insurance Company purchased a new stake in Apollo Commercial Real Estate Finance in the second quarter worth about $592,000. Finally, Sanctuary Advisors LLC purchased a new stake in Apollo Commercial Real Estate Finance in the second quarter worth about $712,000. Institutional investors own 54.43% of the company's stock.
Wall Street Analyst Weigh In
A number of research analysts have recently weighed in on the company. Zacks Research cut Apollo Commercial Real Estate Finance from a "hold" rating to a "strong sell" rating in a research report on Monday, August 3rd. Weiss Ratings upgraded shares of Apollo Commercial Real Estate Finance from a "sell (d+)" rating to a "hold (c)" rating in a research note on Friday, August 14th. Bank of America began coverage on shares of Apollo Commercial Real Estate Finance in a report on Tuesday, May 5th. They set a "neutral" rating and a $11.50 price target on the stock. BTIG Research lowered shares of Apollo Commercial Real Estate Finance from a "buy" rating to a "neutral" rating in a research report on Thursday, June 25th. Finally, Wall Street Zen upgraded shares of Apollo Commercial Real Estate Finance from a "sell" rating to a "hold" rating in a research report on Saturday, August 15th. Two analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $11.33.
Get Our Latest Research Report on ARI
Apollo Commercial Real Estate Finance Stock Down 0.7%
ARI opened at $6.81 on Thursday. The firm has a 50-day simple moving average of $8.30 and a two-hundred day simple moving average of $9.89. Apollo Commercial Real Estate Finance has a 52 week low of $6.43 and a 52 week high of $11.24. The company has a market capitalization of $875.36 million, a PE ratio of 8.51 and a beta of 1.36.
Apollo Commercial Real Estate Finance (NYSE:ARI - Get Free Report) last posted its earnings results on Monday, August 10th. The real estate investment trust reported ($2.62) EPS for the quarter. Apollo Commercial Real Estate Finance had a return on equity of 7.39% and a net margin of 55.49%.The firm had revenue of $44.38 million during the quarter. As a group, sell-side analysts expect that Apollo Commercial Real Estate Finance will post -0.18 earnings per share for the current year.
Apollo Commercial Real Estate Finance Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a dividend of $3.75 per share. This is an increase from Apollo Commercial Real Estate Finance's previous quarterly dividend of $0.25. This represents a $15.00 dividend on an annualized basis and a dividend yield of 220.3%. Apollo Commercial Real Estate Finance's dividend payout ratio is currently 125.00%.
About Apollo Commercial Real Estate Finance
(
Free Report)
Apollo Commercial Real Estate Finance, Inc NYSE: ARI is a real estate finance company structured as a real estate investment trust (REIT). The company focuses on originating, acquiring and managing a diversified portfolio of commercial real estate debt and preferred equity investments. As an externally managed vehicle, ARI leverages the expertise and resources of an affiliate of Apollo Global Management, a leading global alternative investment manager.
ARI's investment strategy is centered on providing first mortgage loans, mezzanine debt financing, bridge loans and preferred equity across a broad range of property types, including office, retail, industrial and multifamily assets.
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