Bank Of America (Bofa) Begins Coverage on Apollo Commercial Real Estate Finance (NYSE:ARI)

Bank Of America (Bofa) began coverage on shares of Apollo Commercial Real Estate Finance (NYSE:ARIGet Rating) in a research note published on Tuesday morning. The brokerage issued a neutral rating and a $12.00 target price on the real estate investment trust’s stock.

Several other analysts also recently commented on ARI. Credit Suisse Group lowered their price objective on Apollo Commercial Real Estate Finance to $11.00 in a research note on Thursday, October 13th. Bank of America reaffirmed a neutral rating and issued a $12.00 target price on shares of Apollo Commercial Real Estate Finance in a report on Monday. StockNews.com initiated coverage on Apollo Commercial Real Estate Finance in a report on Wednesday, October 12th. They issued a hold rating for the company. Finally, JPMorgan Chase & Co. reduced their target price on Apollo Commercial Real Estate Finance from $11.00 to $9.50 and set an underweight rating for the company in a report on Monday, October 24th.

Apollo Commercial Real Estate Finance Stock Performance

Shares of Apollo Commercial Real Estate Finance stock opened at $11.98 on Tuesday. The company has a market cap of $1.68 billion, a PE ratio of 6.37 and a beta of 1.54. Apollo Commercial Real Estate Finance has a 52 week low of $7.91 and a 52 week high of $14.55. The business has a 50 day moving average price of $10.45 and a 200-day moving average price of $11.25. The company has a quick ratio of 22.02, a current ratio of 22.02 and a debt-to-equity ratio of 0.62.

Apollo Commercial Real Estate Finance Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 14th. Stockholders of record on Friday, September 30th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 11.69%. The ex-dividend date was Thursday, September 29th. Apollo Commercial Real Estate Finance’s dividend payout ratio is presently 74.47%.

Insider Activity

In other news, CEO Stuart Rothstein acquired 15,000 shares of Apollo Commercial Real Estate Finance stock in a transaction on Monday, November 7th. The stock was acquired at an average cost of $11.18 per share, with a total value of $167,700.00. Following the completion of the acquisition, the chief executive officer now owns 452,676 shares in the company, valued at $5,060,917.68. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.73% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Apollo Commercial Real Estate Finance

Institutional investors and hedge funds have recently bought and sold shares of the company. Profund Advisors LLC grew its holdings in Apollo Commercial Real Estate Finance by 23.9% during the first quarter. Profund Advisors LLC now owns 18,570 shares of the real estate investment trust’s stock valued at $259,000 after purchasing an additional 3,581 shares during the period. State of Alaska Department of Revenue grew its holdings in Apollo Commercial Real Estate Finance by 8.5% during the second quarter. State of Alaska Department of Revenue now owns 99,974 shares of the real estate investment trust’s stock valued at $1,043,000 after purchasing an additional 7,815 shares during the period. SG Americas Securities LLC grew its holdings in Apollo Commercial Real Estate Finance by 557.8% during the first quarter. SG Americas Securities LLC now owns 50,164 shares of the real estate investment trust’s stock valued at $699,000 after purchasing an additional 42,538 shares during the period. Y Intercept Hong Kong Ltd bought a new position in Apollo Commercial Real Estate Finance during the second quarter valued at $142,000. Finally, Camden Capital LLC bought a new position in Apollo Commercial Real Estate Finance during the first quarter valued at $525,000. 55.57% of the stock is owned by 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.

Recommended Stories

Receive News & Ratings for Apollo Commercial Real Estate Finance Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apollo Commercial Real Estate Finance and related companies with MarketBeat.com's FREE daily email newsletter.