Vanguard Group Inc. Lowers Stock Holdings in Apollo Commercial Real Estate Finance $ARI

Key Points

• Vanguard Group trimmed its stake in Apollo Commercial Real Estate Finance by 0.8% in the fourth quarter, though it still held about 10.86% of the company worth roughly $146.1 million.
• Apollo Commercial Real Estate Finance reported weaker-than-expected quarterly results, posting EPS of $0.22 versus the $0.29 consensus and revenue of $58.63 million versus expectations of $77.85 million.
• The company recently paid a $0.25 quarterly dividend, equal to a 9.1% annualized yield, while analysts currently rate the stock a consensus Hold with an average price target of $11.13.

Vanguard Group Inc. lowered its holdings in shares of Apollo Commercial Real Estate Finance (NYSE:ARI - Free Report) by 0.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,092,682 shares of the real estate investment trust's stock after selling 116,180 shares during the quarter. Vanguard Group Inc. owned approximately 10.86% of Apollo Commercial Real Estate Finance worth $146,097,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. No Street GP LP boosted its position in Apollo Commercial Real Estate Finance by 33.3% during the third quarter. No Street GP LP now owns 3,000,000 shares of the real estate investment trust's stock worth $30,390,000 after purchasing an additional 750,000 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Apollo Commercial Real Estate Finance by 6.9% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,085,917 shares of the real estate investment trust's stock worth $21,130,000 after purchasing an additional 134,308 shares in the last quarter. Invesco Ltd. boosted its position in Apollo Commercial Real Estate Finance by 50.4% during the second quarter. Invesco Ltd. now owns 1,291,072 shares of the real estate investment trust's stock worth $12,498,000 after purchasing an additional 432,377 shares in the last quarter. Van ECK Associates Corp boosted its position in Apollo Commercial Real Estate Finance by 3.5% during the third quarter. Van ECK Associates Corp now owns 1,033,295 shares of the real estate investment trust's stock worth $10,467,000 after purchasing an additional 34,521 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in Apollo Commercial Real Estate Finance by 21.9% during the third quarter. Principal Financial Group Inc. now owns 774,154 shares of the real estate investment trust's stock worth $7,842,000 after purchasing an additional 139,336 shares in the last quarter. Hedge funds and other institutional investors own 54.43% of the company's stock.

Apollo Commercial Real Estate Finance Price Performance

ARI stock opened at $10.99 on Tuesday. The company has a current ratio of 81.81, a quick ratio of 81.80 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $1.46 billion, a PE ratio of 13.56 and a beta of 1.37. Apollo Commercial Real Estate Finance has a 12-month low of $9.39 and a 12-month high of $11.24. The business's fifty day moving average price is $10.72 and its 200 day moving average price is $10.36.

Apollo Commercial Real Estate Finance (NYSE:ARI - Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. 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 analysts' expectations of $77.85 million. Apollo Commercial Real Estate Finance had a net margin of 48.01% and a return on equity of 7.87%. On average, sell-side analysts anticipate that Apollo Commercial Real Estate Finance will post 0.88 EPS for the current year.

Apollo Commercial Real Estate Finance Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 9.1%. The ex-dividend date was Tuesday, March 31st. Apollo Commercial Real Estate Finance's payout ratio is currently 123.46%.

Analysts Set New Price Targets

ARI has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods lifted their price target on Apollo Commercial Real Estate Finance from $10.75 to $11.50 and gave the stock an "outperform" rating in a research note on Thursday, February 12th. Bank of America initiated coverage on Apollo Commercial Real Estate Finance in a research report on Tuesday, May 5th. They set a "neutral" rating and a $11.50 price objective on the stock. Wall Street Zen lowered Apollo Commercial Real Estate Finance from a "hold" rating to a "sell" rating in a research note on Saturday, May 2nd. Finally, Zacks Research raised Apollo Commercial Real Estate Finance from a "strong sell" rating to a "hold" rating in a research note on Monday, April 20th. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $11.13.

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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