Readystate Asset Management LP Lowers Position in Apollo Commercial Real Estate Finance $ARI

Key Points

• Readystate Asset Management cut its Apollo Commercial Real Estate Finance position by 97.6% in the second quarter, selling 440,125 shares and retaining 10,645 shares worth approximately $114,000. Institutional investors collectively own 54.43% of ARI.
• ARI shares opened at $6.79, near their 52-week low of $6.43 and well below the 52-week high of $11.24. The company reported quarterly revenue of $44.38 million and a loss of $2.62 per share.
• Analyst sentiment has weakened, with recent downgrades including a “strong sell” from Zacks Research; the consensus rating is “Hold” with an average price target of $11.33.

Readystate Asset Management LP decreased its position in shares of Apollo Commercial Real Estate Finance (NYSE:ARI - Free Report) by 97.6% during the second quarter, according to its most recent filing with the SEC. The firm owned 10,645 shares of the real estate investment trust's stock after selling 440,125 shares during the period. Readystate Asset Management LP's holdings in Apollo Commercial Real Estate Finance were worth $114,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in ARI. Markowski Investments bought a new stake in shares of Apollo Commercial Real Estate Finance during the second quarter valued at approximately $55,000. BTG Pactual Asset Management US LLC purchased a new position in Apollo Commercial Real Estate Finance during the second quarter valued at $570,000. Two Sigma Securities LLC purchased a new position in Apollo Commercial Real Estate Finance during the second quarter valued at $423,000. GTS Securities LLC bought a new stake in shares of Apollo Commercial Real Estate Finance during the 2nd quarter valued at $117,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Apollo Commercial Real Estate Finance by 20.1% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 411,379 shares of the real estate investment trust's stock worth $4,394,000 after buying an additional 68,965 shares during the period. Institutional investors own 54.43% of the company's stock.

Apollo Commercial Real Estate Finance Stock Down 1.2%

NYSE:ARI opened at $6.79 on Wednesday. The stock has a market cap of $873.46 million, a price-to-earnings ratio of 8.49 and a beta of 1.36. The company's 50 day moving average price is $7.60 and its 200-day moving average price is $9.65. Apollo Commercial Real Estate Finance has a 52 week low of $6.43 and a 52 week high of $11.24.

Apollo Commercial Real Estate Finance (NYSE:ARI - Get Free Report) last released its quarterly earnings data on Monday, August 10th. The real estate investment trust reported ($2.62) earnings per share (EPS) for the quarter. Apollo Commercial Real Estate Finance had a net margin of 55.49% and a return on equity of 7.39%. The business had revenue of $44.38 million during the quarter. As a group, sell-side analysts anticipate 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 firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a dividend of $3.75 per share. This is a boost from Apollo Commercial Real Estate Finance's previous quarterly dividend of $0.25. This represents a $15.00 annualized dividend and a dividend yield of 220.8%. Apollo Commercial Real Estate Finance's dividend payout ratio (DPR) is 125.00%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on ARI shares. Weiss Ratings cut shares of Apollo Commercial Real Estate Finance from a "hold (c)" rating to a "hold (c-)" rating in a research report on Monday, August 31st. BTIG Research lowered shares of Apollo Commercial Real Estate Finance from a "buy" rating to a "neutral" rating in a report on Thursday, June 25th. Zacks Research downgraded Apollo Commercial Real Estate Finance from a "hold" rating to a "strong sell" rating in a research note on Monday, August 3rd. Finally, Wall Street Zen lowered Apollo Commercial Real Estate Finance from a "hold" rating to a "sell" rating in a research report on Sunday. Two analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $11.33.

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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