Royal Bank Of Canada reaffirmed their buy rating on shares of Apollo Commercial Real Estate Finance (NYSE:ARI) in a research report released on Thursday, July 20th. The brokerage currently has a $19.00 price objective on the real estate investment trust’s stock.
ARI has been the subject of several other reports. Zacks Investment Research raised shares of Apollo Commercial Real Estate Finance from a hold rating to a buy rating and set a $21.00 price objective for the company in a report on Tuesday, April 25th. Keefe, Bruyette & Woods reissued a hold rating and set a $18.00 price objective on shares of Apollo Commercial Real Estate Finance in a report on Friday, June 9th. Finally, BidaskClub raised shares of Apollo Commercial Real Estate Finance from a hold rating to a buy rating in a report on Wednesday, June 21st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. The company has a consensus rating of Hold and an average price target of $18.75.
Shares of Apollo Commercial Real Estate Finance (ARI) opened at 17.91 on Thursday. The company has a market capitalization of $1.64 billion, a P/E ratio of 9.34 and a beta of 0.65. The firm has a 50-day moving average of $18.51 and a 200-day moving average of $18.33. Apollo Commercial Real Estate Finance has a 12 month low of $15.54 and a 12 month high of $19.92.
Apollo Commercial Real Estate Finance (NYSE:ARI) last issued its earnings results on Tuesday, May 2nd. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by $0.08. The firm had revenue of $57.81 million during the quarter. Apollo Commercial Real Estate Finance had a return on equity of 9.79% and a net margin of 88.07%. On average, equities analysts predict that Apollo Commercial Real Estate Finance will post $1.87 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, July 17th. Investors of record on Friday, June 30th were given a dividend of $0.46 per share. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $1.84 annualized dividend and a yield of 10.27%. Apollo Commercial Real Estate Finance’s dividend payout ratio (DPR) is 96.84%.
In related news, CEO Stuart Rothstein sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $18.69, for a total transaction of $467,250.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.62% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Schwab Charles Investment Management Inc. raised its position in Apollo Commercial Real Estate Finance by 15.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 369,295 shares of the real estate investment trust’s stock worth $6,851,000 after buying an additional 48,504 shares during the last quarter. Global X Management Co. LLC raised its position in Apollo Commercial Real Estate Finance by 7.3% in the second quarter. Global X Management Co. LLC now owns 1,040,837 shares of the real estate investment trust’s stock worth $19,308,000 after buying an additional 70,928 shares during the last quarter. Texas Permanent School Fund purchased a new position in Apollo Commercial Real Estate Finance during the second quarter worth $1,277,000. Bessemer Group Inc. raised its position in Apollo Commercial Real Estate Finance by 3.2% in the second quarter. Bessemer Group Inc. now owns 189,773 shares of the real estate investment trust’s stock worth $3,520,000 after buying an additional 5,830 shares during the last quarter. Finally, Great West Life Assurance Co. Can raised its position in Apollo Commercial Real Estate Finance by 1,851.8% in the second quarter. Great West Life Assurance Co. Can now owns 133,662 shares of the real estate investment trust’s stock worth $2,478,000 after buying an additional 126,814 shares during the last quarter. Institutional investors own 49.54% of the company’s stock.
About Apollo Commercial Real Estate Finance
Apollo Commercial Real Estate Finance, Inc is a real estate investment trust. The Company primarily originates, acquires, invests in and manages performing commercial first mortgage loans, subordinate financings, commercial mortgage-backed securities (CMBS) and other commercial real estate-related debt investments.
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