JPMorgan Chase & Co. Lowers Apollo Commercial Real Estate Finance (NYSE:ARI) Price Target to $8.50

Apollo Commercial Real Estate Finance (NYSE:ARI) had its price target trimmed by JPMorgan Chase & Co. from $9.50 to $8.50 in a research note published on Thursday, Benzinga reports. The firm currently has a neutral rating on the real estate investment trust’s stock.

Separately, BTIG Research began coverage on Apollo Commercial Real Estate Finance in a report on Friday, July 19th. They issued a “neutral” rating on the stock. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $9.88.

Apollo Commercial Real Estate Finance Stock Down 1.0 %

Shares of NYSE:ARI opened at $8.90 on Thursday. Apollo Commercial Real Estate Finance has a fifty-two week low of $8.52 and a fifty-two week high of $12.74. The company has a quick ratio of 54.21, a current ratio of 54.21 and a debt-to-equity ratio of 0.63. The firm’s 50-day simple moving average is $9.71 and its 200-day simple moving average is $10.12. The company has a market cap of $1.27 billion, a price-to-earnings ratio of -11.41, a PEG ratio of 1.93 and a beta of 1.75.

Apollo Commercial Real Estate Finance Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a $0.25 dividend. The ex-dividend date was Monday, September 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 11.24%. Apollo Commercial Real Estate Finance’s dividend payout ratio is presently -128.21%.

Insider Buying and Selling

In other Apollo Commercial Real Estate Finance news, Director Scott Prince sold 4,935 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $10.12, for a total value of $49,942.20. Following the completion of the transaction, the director now directly owns 81,154 shares of the company’s stock, valued at approximately $821,278.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.68% of the stock is owned by insiders.

Institutional Investors Weigh In On Apollo Commercial Real Estate Finance

A number of institutional investors and hedge funds have recently modified their holdings of the company. Luxor Capital Group LP acquired a new position in Apollo Commercial Real Estate Finance during the second quarter worth $7,342,000. Van ECK Associates Corp increased its position in shares of Apollo Commercial Real Estate Finance by 32.1% in the second quarter. Van ECK Associates Corp now owns 1,034,316 shares of the real estate investment trust’s stock valued at $10,126,000 after buying an additional 251,280 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Apollo Commercial Real Estate Finance by 11.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 789,761 shares of the real estate investment trust’s stock worth $8,798,000 after buying an additional 78,833 shares during the last quarter. Cetera Advisors LLC boosted its position in shares of Apollo Commercial Real Estate Finance by 400.4% in the 1st quarter. Cetera Advisors LLC now owns 83,443 shares of the real estate investment trust’s stock worth $930,000 after buying an additional 66,768 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in Apollo Commercial Real Estate Finance by 36.1% in the 2nd quarter. Victory Capital Management Inc. now owns 225,123 shares of the real estate investment trust’s stock valued at $2,204,000 after acquiring an additional 59,764 shares during the last quarter. Institutional investors and hedge funds own 54.43% of the company’s stock.

About Apollo Commercial Real Estate Finance

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.