Apollo Commercial Real Estate Finance, Inc. (NYSE:ARI) Sees Sharp Drop in Short-Term Interest

Apollo Commercial Real Estate Finance, Inc. (NYSE:ARI – Get Rating) benefited from a sharp drop in short-term interest rates in August. As of August 31, there was short interest totaling 3,180,000 shares, down 13.6% from the total of 3,680,000 shares as of August 15. Based on an average daily trading volume of 1,080,000 shares, the day-to-cover ratio is currently 2.9 days. Approximately 2.3% of the company’s shares are sold short.

Apollo Commercial Real Estate Finance Stock Performance

Shares of ARI traded down $0.01 during Friday trading hours, hitting $11.18. 2,698,894 shares of the company were traded, against an average volume of 997,259. The company has a market capitalization of $1.57 billion, a P/E ratio of 9.89 and a beta of 1.35. The company’s 50-day moving average is $11.85 and its two-hundred-day moving average is $12.28. Apollo Commercial Real Estate Finance has a 1 year minimum of $9.41 and a 1 year maximum of $15.98. The company has a debt ratio of 3.09, a current ratio of 38.24 and a quick ratio of 38.25.

Apollo Commercial Real Estate Finance (NYSE:ARI – Get Rating) last released its results on Tuesday, July 26. The real estate investment trust reported earnings per share (EPS) of $0.35 for the quarter, beating analyst consensus estimates of $0.26 by $0.09. Apollo Commercial Real Estate Finance achieved a return on equity of 8.22% and a net margin of 71.47%. In the same quarter a year earlier, the company posted earnings of $0.38 per share. Equity research analysts expect Apollo Commercial Real Estate Finance to post EPS of 1.29 for the current fiscal year.

Apollo Commercial Real Estate Finance Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 14. Investors of record on Friday, September 30 will receive a dividend of $0.35. This represents an annualized dividend of $1.40 and a yield of 12.52%. The ex-dividend date is Thursday, September 29. Apollo Commercial Real Estate Finance’s payout ratio is currently 123.89%.

Hedge funds weigh on Apollo Commercial Real Estate Finance

Several hedge funds have recently bought and sold shares of the company. Profund Advisors LLC increased its position 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 worth $259,000 after buying 3,581 additional shares in the last quarter. The Public Employees Retirement Association of Colorado purchased a new position in Apollo Commercial Real Estate Finance during the fourth quarter valued at $491,000. SG Americas Securities LLC increased its position 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 worth $699,000 after purchasing an additional 42,538 shares last quarter. Camden Capital LLC bought a new position in Apollo Commercial Real Estate Finance during the first quarter worth $525,000. Finally, Arete Wealth Advisors LLC increased its position in Apollo Commercial Real Estate Finance by 252.5% during the first quarter. Arete Wealth Advisors LLC now owns 366,300 shares of the real estate investment trust worth $5,103,000 after buying an additional 262,376 shares last quarter. 55.57% of the shares are held by hedge funds and other institutional investors.

Analysts set new price targets

Several equity research analysts have weighed in on ARI shares. Credit Suisse Group cut its price target on Apollo Commercial Real Estate Finance to $13.00 in a Friday, July 22 report. JPMorgan Chase & Co. downgraded Apollo Commercial Real Estate Finance from a “neutral” rating to an “underweight” rating and lowered its price target for the stock from $12.50 to $11.00 in a research report from Tuesday, September 6.

Apollo Commercial Real Estate Finance Company Profile

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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 debt investments related to commercial real estate in the USA. It qualifies as a REIT under the Tax Code.

Further reading

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