Cura Wealth Advisors LLC Sells 386,000 Shares of Apollo Commercial Real Estate Finance $ARI

Key Points

• Cura Wealth Advisors LLC reduced its Apollo Commercial Real Estate Finance stake by 46.9% in the first quarter, selling 386,000 shares and leaving it with 437,233 shares worth about $4.6 million.
• Insider and institutional activity was mixed: Director Carmencita N.M. Whonder sold 4,574 shares, while several hedge funds and asset managers, including Invesco and Norges Bank, added to or initiated positions. Institutional investors and hedge funds now own 54.43% of the stock.
• Analysts and results were cautious, with multiple firms downgrading ARI and a consensus rating of “Hold”; the company also missed quarterly EPS and revenue estimates, even as it announced a sharply larger dividend that implies an annualized yield above 220%.

Cura Wealth Advisors LLC cut its holdings in shares of Apollo Commercial Real Estate Finance (NYSE:ARI - Free Report) by 46.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 437,233 shares of the real estate investment trust's stock after selling 386,000 shares during the period. Apollo Commercial Real Estate Finance comprises approximately 2.1% of Cura Wealth Advisors LLC's holdings, making the stock its 6th largest holding. Cura Wealth Advisors LLC owned approximately 0.33% of Apollo Commercial Real Estate Finance worth $4,617,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. AQR Capital Management LLC raised its position in Apollo Commercial Real Estate Finance by 43.4% in the 1st quarter. AQR Capital Management LLC now owns 21,016 shares of the real estate investment trust's stock valued at $201,000 after purchasing an additional 6,358 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Apollo Commercial Real Estate Finance by 8.9% in the second quarter. Envestnet Asset Management Inc. now owns 19,328 shares of the real estate investment trust's stock valued at $187,000 after buying an additional 1,582 shares in the last quarter. Creative Planning increased its stake in shares of Apollo Commercial Real Estate Finance by 14.5% in the second quarter. Creative Planning now owns 17,093 shares of the real estate investment trust's stock valued at $165,000 after buying an additional 2,166 shares in the last quarter. Norges Bank bought a new position in shares of Apollo Commercial Real Estate Finance in the second quarter valued at about $1,146,000. Finally, Invesco Ltd. raised its holdings in shares of Apollo Commercial Real Estate Finance by 50.4% in the second quarter. Invesco Ltd. now owns 1,291,072 shares of the real estate investment trust's stock valued at $12,498,000 after buying an additional 432,377 shares during the last quarter. 54.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Carmencita N.M. Whonder sold 4,574 shares of Apollo Commercial Real Estate Finance stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $10.93, for a total transaction of $49,993.82. Following the completion of the sale, the director owned 24,799 shares in the company, valued at $271,053.07. The trade was a 15.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.52% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Weiss Ratings lowered shares of Apollo Commercial Real Estate Finance from a "hold (c)" rating to a "hold (c-)" rating in a report on Thursday. Wall Street Zen downgraded shares of Apollo Commercial Real Estate Finance from a "hold" rating to a "sell" rating in a research note on Saturday, May 2nd. Bank of America started coverage on shares of Apollo Commercial Real Estate Finance in a research report on Tuesday, May 5th. They set a "neutral" rating and a $11.50 target price on the stock. BTIG Research cut shares of Apollo Commercial Real Estate Finance from a "buy" rating to a "neutral" rating in a research note on Thursday, June 25th. Finally, Zacks Research raised shares of Apollo Commercial Real Estate Finance from a "strong sell" rating to a "hold" rating in a report on Monday, April 20th. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $11.33.

Apollo Commercial Real Estate Finance Trading Down 2.4%

ARI stock opened at $6.82 on Tuesday. The company has a quick ratio of 81.80, a current ratio of 81.81 and a debt-to-equity ratio of 0.68. Apollo Commercial Real Estate Finance has a twelve month low of $6.74 and a twelve month high of $11.24. The company has a market cap of $891.13 million, a P/E ratio of 8.41 and a beta of 1.35. The business has a fifty day moving average of $10.52 and a 200-day moving average of $10.54.

Apollo Commercial Real Estate Finance (NYSE:ARI - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.07). The firm had revenue of $58.63 million during the quarter, compared to the consensus estimate of $77.85 million. Apollo Commercial Real Estate Finance had a net margin of 48.01% and a return on equity of 7.87%. As a group, equities research analysts expect that Apollo Commercial Real Estate Finance will post 0.88 EPS for the current year.

Apollo Commercial Real Estate Finance Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a $3.75 dividend. This represents a $15.00 annualized dividend and a dividend yield of 220.1%. This is a positive change from Apollo Commercial Real Estate Finance's previous quarterly dividend of $0.25. Apollo Commercial Real Estate Finance's dividend payout ratio (DPR) is 123.46%.

Apollo Commercial Real Estate Finance Profile

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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