Allspring Global Investments Holdings LLC cut its stake in shares of Apollo Commercial Real Estate Finance, Inc. (NYSE:ARI - Free Report) by 12.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,155,115 shares of the real estate investment trust's stock after selling 319,058 shares during the period. Allspring Global Investments Holdings LLC owned approximately 1.52% of Apollo Commercial Real Estate Finance worth $25,301,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in ARI. US Bancorp DE lifted its stake in Apollo Commercial Real Estate Finance by 84.8% in the second quarter. US Bancorp DE now owns 2,230 shares of the real estate investment trust's stock worth $25,000 after acquiring an additional 1,023 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake in Apollo Commercial Real Estate Finance by 721.0% in the first quarter. Geneos Wealth Management Inc. now owns 4,310 shares of the real estate investment trust's stock worth $60,000 after acquiring an additional 3,785 shares during the last quarter. EMC Capital Management lifted its stake in Apollo Commercial Real Estate Finance by 134.6% in the third quarter. EMC Capital Management now owns 6,922 shares of the real estate investment trust's stock worth $70,000 after acquiring an additional 3,971 shares during the last quarter. Belpointe Asset Management LLC lifted its stake in Apollo Commercial Real Estate Finance by 154.8% in the first quarter. Belpointe Asset Management LLC now owns 9,173 shares of the real estate investment trust's stock worth $85,000 after acquiring an additional 5,573 shares during the last quarter. Finally, Metropolitan Life Insurance Co NY lifted its stake in Apollo Commercial Real Estate Finance by 11.7% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 8,666 shares of the real estate investment trust's stock worth $93,000 after acquiring an additional 907 shares during the last quarter. 54.43% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
ARI has been the subject of a number of recent research reports. Bank of America downgraded shares of Apollo Commercial Real Estate Finance from a "neutral" rating to an "underperform" rating and set a $10.50 price target for the company. in a research note on Monday, March 4th. TheStreet upgraded shares of Apollo Commercial Real Estate Finance from a "d+" rating to a "c-" rating in a research report on Wednesday, March 20th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Apollo Commercial Real Estate Finance from $11.00 to $10.50 and set a "neutral" rating for the company in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $10.50.
Check Out Our Latest Stock Report on Apollo Commercial Real Estate Finance
Insider Buying and Selling at Apollo Commercial Real Estate Finance
In other news, CEO Stuart Rothstein sold 40,000 shares of the company's stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $11.45, for a total transaction of $458,000.00. Following the transaction, the chief executive officer now directly owns 541,675 shares of the company's stock, valued at approximately $6,202,178.75. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.61% of the stock is currently owned by corporate insiders.
Apollo Commercial Real Estate Finance Stock Performance
ARI traded down $0.09 during trading on Friday, hitting $10.76. The stock had a trading volume of 550,674 shares, compared to its average volume of 791,843. The company has a debt-to-equity ratio of 0.57, a quick ratio of 67.73 and a current ratio of 67.74. The firm has a market capitalization of $1.53 billion, a P/E ratio of 35.87 and a beta of 1.67. The company's 50-day moving average price is $10.98 and its 200 day moving average price is $10.96. Apollo Commercial Real Estate Finance, Inc. has a twelve month low of $8.94 and a twelve month high of $12.74.
Apollo Commercial Real Estate Finance Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Thursday, March 28th will be paid a $0.35 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $1.40 annualized dividend and a yield of 13.01%. Apollo Commercial Real Estate Finance's dividend payout ratio is currently 466.67%.
About Apollo Commercial Real Estate Finance
(
Free Report)
Apollo Commercial Real Estate Finance, Inc operates as a real estate investment trust (REIT) that originates, acquires, invests in, and manages commercial first mortgage loans, subordinate financings, and other commercial real estate-related debt investments in the United States, the United Kingdom, and Europe.
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