Readystate Asset Management LP Sells 440,125 Shares of Apollo Commercial Real Estate Finance $ARI

Readystate Asset Management LP lowered its stake in Apollo Commercial Real Estate Finance (NYSE:ARI) by 97.6% during the 2nd quarter, HoldingsChannel reports. The firm owned 10,645 shares of the real estate investment trust’s stock after selling 440,125 shares during the period. Readystate Asset Management LP’s holdings in Apollo Commercial Real Estate Finance were worth $114,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Bessemer Group Inc. boosted its stake in shares of Apollo Commercial Real Estate Finance by 388.7% in the 1st quarter. Bessemer Group Inc. now owns 3,255 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 2,589 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in Apollo Commercial Real Estate Finance during the second quarter valued at $47,000. Parallel Advisors LLC increased its position in Apollo Commercial Real Estate Finance by 61.7% during the first quarter. Parallel Advisors LLC now owns 4,656 shares of the real estate investment trust’s stock valued at $49,000 after acquiring an additional 1,777 shares during the last quarter. Danske Bank A S bought a new position in Apollo Commercial Real Estate Finance in the third quarter valued at about $50,000. Finally, Markowski Investments bought a new position in Apollo Commercial Real Estate Finance in the second quarter valued at about $55,000. 54.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ARI. Zacks Research downgraded Apollo Commercial Real Estate Finance from a “hold” rating to a “strong sell” rating in a research note on Monday, August 3rd. Weiss Ratings cut shares of Apollo Commercial Real Estate Finance from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, August 31st. BTIG Research downgraded shares of Apollo Commercial Real Estate Finance from a “buy” rating to a “neutral” rating in a report on Thursday, June 25th. Finally, Wall Street Zen lowered shares of Apollo Commercial Real Estate Finance from a “hold” rating to a “sell” rating in a research report on Sunday. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $11.33.

Apollo Commercial Real Estate Finance Stock Performance

Shares of Apollo Commercial Real Estate Finance stock opened at $6.79 on Wednesday. The stock has a market cap of $873.46 million, a P/E ratio of 8.49 and a beta of 1.36. The stock’s fifty day moving average is $7.60 and its 200 day moving average is $9.65. Apollo Commercial Real Estate Finance has a one year low of $6.43 and a one year high of $11.24.

Apollo Commercial Real Estate Finance (NYSE:ARI) last released its quarterly earnings results on Monday, August 10th. The real estate investment trust reported ($2.62) earnings per share (EPS) for the quarter. The company had revenue of $44.38 million for the quarter. Apollo Commercial Real Estate Finance had a net margin of 55.49% and a return on equity of 7.39%. Analysts predict that Apollo Commercial Real Estate Finance will post -0.18 EPS for the current year.

Apollo Commercial Real Estate Finance Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a dividend of $3.75 per share. This is an increase from Apollo Commercial Real Estate Finance’s previous quarterly dividend of $0.25. This represents a $15.00 dividend on an annualized basis and a dividend yield of 220.8%. Apollo Commercial Real Estate Finance’s payout ratio is 125.00%.

Apollo Commercial Real Estate Finance Company Profile

Apollo Commercial Real Estate Finance, Inc (NYSE: ARI) is a real estate finance company structured as a real estate investment trust (REIT). The company focuses on originating, acquiring and managing a diversified portfolio of commercial real estate debt and preferred equity investments. As an externally managed vehicle, ARI leverages the expertise and resources of an affiliate of Apollo Global Management, a leading global alternative investment manager.

ARI’s investment strategy is centered on providing first mortgage loans, mezzanine debt financing, bridge loans and preferred equity across a broad range of property types, including office, retail, industrial and multifamily assets.