Zacks Investment Research upgraded shares of Apollo Commercial Real Estat (NYSE:ARI) from a sell rating to a hold rating in a research note released on Wednesday.
According to Zacks, “Apollo Commercial Real Estate Finance, Inc. is focused on investing in, acquiring and managing senior performing commercial real estate mortgage loans, commercial mortgage-backed securities, commercial real estate corporate debt and loans, and other real estate debt investments. The Company is a commercial real estate finance company that is managed and advised by ACREFI Management, LLC, a indirect subsidiary of Apollo Global Management, LLC. “
A number of other brokerages have also issued reports on ARI. ValuEngine lowered Apollo Commercial Real Estat from a strong-buy rating to a buy rating in a report on Wednesday, March 7th. Raymond James assumed coverage on Apollo Commercial Real Estat in a report on Tuesday, March 27th. They issued a market perform rating for the company. Finally, UBS assumed coverage on Apollo Commercial Real Estat in a report on Tuesday, March 27th. They issued a market perform rating for the company. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $19.33.
Apollo Commercial Real Estat (NYSE:ARI) last announced its quarterly earnings results on Wednesday, February 14th. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.02. The firm had revenue of $69.19 million during the quarter, compared to analyst estimates of $67.80 million. Apollo Commercial Real Estat had a return on equity of 10.22% and a net margin of 74.11%. Apollo Commercial Real Estat’s quarterly revenue was up 29.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.49 earnings per share. analysts anticipate that Apollo Commercial Real Estat will post 1.78 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 16th. Investors of record on Friday, March 30th were paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 10.34%. The ex-dividend date of this dividend was Wednesday, March 28th. Apollo Commercial Real Estat’s dividend payout ratio (DPR) is 119.48%.
In related news, Director Michael Salvati sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $18.55, for a total value of $185,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Stuart Rothstein sold 13,654 shares of the business’s stock in a transaction that occurred on Monday, April 16th. The stock was sold at an average price of $17.85, for a total transaction of $243,723.90. The disclosure for this sale can be found here. Insiders sold 29,313 shares of company stock valued at $532,501 in the last three months. 0.62% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the stock. Sheaff Brock Investment Advisors LLC bought a new position in Apollo Commercial Real Estat in the fourth quarter worth approximately $187,000. Vident Investment Advisory LLC bought a new position in Apollo Commercial Real Estat in the fourth quarter worth approximately $230,000. Paloma Partners Management Co raised its stake in Apollo Commercial Real Estat by 35.2% in the fourth quarter. Paloma Partners Management Co now owns 16,236 shares of the real estate investment trust’s stock worth $299,000 after buying an additional 4,224 shares in the last quarter. Claraphi Advisory Network LLC bought a new position in Apollo Commercial Real Estat in the fourth quarter worth approximately $322,000. Finally, Crossmark Global Holdings Inc. increased its position in shares of Apollo Commercial Real Estat by 63.2% during the fourth quarter. Crossmark Global Holdings Inc. now owns 19,240 shares of the real estate investment trust’s stock worth $355,000 after purchasing an additional 7,450 shares in the last quarter. 70.80% of the stock is owned by institutional investors.
Apollo Commercial Real Estat Company Profile
Apollo Commercial Real Estate Finance, Inc operates as a real estate investment trust (REIT) that primarily 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 company is qualified as a REIT under the Internal Revenue Code.
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