Apollo Commercial Real Estate Finance, Inc. Declares Quarterly Dividend of $0.35 (NYSE:ARI)
Apollo Commercial Real Estate Finance, Inc. (NYSE:ARI – Get Rating) declared a quarterly dividend on Wednesday, June 15th, Wall Street Journal reports. Shareholders of record on Thursday, June 30th will be paid a dividend of 0.35 per share by the real estate investment trust on Friday, July 15th. This represents a $1.40 annualized dividend and a yield of 13.81%. The ex-dividend date of this dividend is Wednesday, June 29th.
Apollo Commercial Real Estate Finance has decreased its dividend by an average of 8.7% annually over the last three years. Apollo Commercial Real Estate Finance has a payout ratio of 97.9% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities analysts expect Apollo Commercial Real Estate Finance to earn $1.32 per share next year, which means the company may not be able to cover its $1.40 annual dividend with an expected future payout ratio of 106.1%.
ARI stock traded up $0.05 during midday trading on Wednesday, reaching $10.14. 2,010,020 shares of the company’s stock traded hands, compared to its average volume of 1,179,729. The company has a current ratio of 66.05, a quick ratio of 66.05 and a debt-to-equity ratio of 2.85. The stock’s 50-day moving average is $12.62 and its 200 day moving average is $13.18. Apollo Commercial Real Estate Finance has a 52-week low of $9.83 and a 52-week high of $16.94. The stock has a market cap of $1.43 billion, a P/E ratio of 9.09 and a beta of 1.25.
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Apollo Commercial Real Estate Finance (NYSE:ARI – Get Rating) last posted its quarterly earnings results on Monday, April 25th. The real estate investment trust reported $0.35 EPS for the quarter, topping the consensus estimate of $0.33 by $0.02. Apollo Commercial Real Estate Finance had a net margin of 70.24% and a return on equity of 8.63%. During the same period in the prior year, the firm posted $0.36 EPS. As a group, research analysts expect that Apollo Commercial Real Estate Finance will post 1.17 EPS for the current fiscal year.
A number of equities analysts have issued reports on ARI shares. JPMorgan Chase & Co. raised their price target on shares of Apollo Commercial Real Estate Finance from $13.00 to $13.50 and gave the stock a “neutral” rating in a research report on Monday, April 25th. StockNews.com initiated coverage on shares of Apollo Commercial Real Estate Finance in a research note on Thursday, March 31st. They set a “hold” rating on the stock.
In other news, Director Mark C. Biderman sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 17th. The stock was sold at an average price of $12.68, for a total transaction of $126,800.00. Following the completion of the sale, the director now owns 65,663 shares in the company, valued at $832,606.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.73% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of ARI. Atria Wealth Solutions Inc. purchased a new stake in shares of Apollo Commercial Real Estate Finance during the 1st quarter valued at about $423,000. SVB Wealth LLC acquired a new position in Apollo Commercial Real Estate Finance during the 1st quarter worth $319,000. Natixis Advisors L.P. raised its stake in shares of Apollo Commercial Real Estate Finance by 28.0% in the 1st quarter. Natixis Advisors L.P. now owns 22,392 shares of the real estate investment trust’s stock worth $312,000 after buying an additional 4,899 shares in the last quarter. Penserra Capital Management LLC raised its stake in shares of Apollo Commercial Real Estate Finance by 28.9% in the 1st quarter. Penserra Capital Management LLC now owns 20,561 shares of the real estate investment trust’s stock worth $286,000 after buying an additional 4,608 shares in the last quarter. Finally, Mariner LLC acquired a new stake in shares of Apollo Commercial Real Estate Finance during the first quarter worth $267,000. 57.62% of the stock is currently owned by hedge funds and other institutional investors.
Apollo Commercial Real Estate Finance Company Profile (Get Rating)
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. It is qualified as a REIT under the Internal Revenue Code.
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