Purpose Unlimited Inc. Invests $2.39 Million in Apollo Commercial Real Estate Finance $ARI

Key Points

• Purpose Unlimited Inc. opened a new position in Apollo Commercial Real Estate Finance, buying 247,178 shares valued at about $2.39 million in the fourth quarter, according to its SEC filing.
• Insider selling was also noted, as Director Carmencita N.M. Whonder sold 4,574 shares at $10.93 each, cutting her stake by about 15.6%.
• Apollo Commercial Real Estate Finance reported weak quarterly results, with EPS of $0.22 versus the $0.29 estimate and revenue of $58.63 million versus $77.85 million expected; the company also announced a much larger quarterly dividend of $3.75 per share, up from $0.25 previously.

Purpose Unlimited Inc. bought a new position in shares of Apollo Commercial Real Estate Finance (NYSE:ARI - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 247,178 shares of the real estate investment trust's stock, valued at approximately $2,393,000. Purpose Unlimited Inc. owned approximately 0.18% of Apollo Commercial Real Estate Finance at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. GAMMA Investing LLC boosted its stake in Apollo Commercial Real Estate Finance by 60.4% in the 4th quarter. GAMMA Investing LLC now owns 2,832 shares of the real estate investment trust's stock worth $27,000 after purchasing an additional 1,066 shares during the period. Farther Finance Advisors LLC grew its holdings in Apollo Commercial Real Estate Finance by 60.2% during the fourth quarter. Farther Finance Advisors LLC now owns 5,037 shares of the real estate investment trust's stock worth $49,000 after purchasing an additional 1,892 shares during the period. Danske Bank A S bought a new position in shares of Apollo Commercial Real Estate Finance during the 3rd quarter worth approximately $50,000. Resources Management Corp CT ADV boosted its position in Apollo Commercial Real Estate Finance by 47,757.1% during the fourth quarter. Resources Management Corp CT ADV now owns 6,700 shares of the real estate investment trust's stock worth $65,000 after purchasing an additional 6,686 shares during the period. Finally, Smartleaf Asset Management LLC boosted its holdings in shares of Apollo Commercial Real Estate Finance by 18.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 7,462 shares of the real estate investment trust's stock worth $74,000 after buying an additional 1,183 shares during the period. Institutional investors and hedge funds own 54.43% of the company's stock.

Insider Activity at Apollo Commercial Real Estate Finance

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 value of $49,993.82. Following the completion of the sale, the director directly owned 24,799 shares in the company, valued at approximately $271,053.07. The trade was a 15.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.52% of the company's stock.

Apollo Commercial Real Estate Finance Trading Up 0.1%

Shares of Apollo Commercial Real Estate Finance stock opened at $10.85 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 81.80 and a current ratio of 81.81. The firm has a 50-day moving average of $10.94 and a 200-day moving average of $10.54. Apollo Commercial Real Estate Finance has a 52-week low of $9.49 and a 52-week high of $11.24. The stock has a market cap of $1.42 billion, a PE ratio of 13.39 and a beta of 1.35.

Apollo Commercial Real Estate Finance (NYSE:ARI - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The real estate investment trust reported $0.22 EPS for the quarter, missing analysts' consensus estimates of $0.29 by ($0.07). Apollo Commercial Real Estate Finance had a return on equity of 7.87% and a net margin of 48.01%.The business had revenue of $58.63 million for the quarter, compared to the consensus estimate of $77.85 million. As a group, sell-side analysts forecast 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 will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be given a dividend of $3.75 per share. This represents a $15.00 dividend on an annualized basis and a dividend yield of 138.3%. The ex-dividend date is Tuesday, June 30th. This is a boost from Apollo Commercial Real Estate Finance's previous quarterly dividend of $0.25. Apollo Commercial Real Estate Finance's dividend payout ratio (DPR) is currently 1,851.85%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ARI shares. 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. Weiss Ratings restated a "hold (c)" rating on shares of Apollo Commercial Real Estate Finance in a report on Friday, May 22nd. Wall Street Zen downgraded Apollo Commercial Real Estate Finance from a "hold" rating to a "sell" rating in a research report on Saturday, May 2nd. Finally, Bank of America began coverage on Apollo Commercial Real Estate Finance in a research note on Tuesday, May 5th. They set a "neutral" rating and a $11.50 target price on the stock. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $11.12.

Apollo Commercial Real Estate Finance Company 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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