Renaissance Technologies LLC Makes New $3.46 Million Investment in Apollo Commercial Real Estate Finance $ARI

Renaissance Technologies LLC purchased a new position in shares of Apollo Commercial Real Estate Finance (NYSE:ARI) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 327,540 shares of the real estate investment trust’s stock, valued at approximately $3,459,000.

Several other institutional investors have also made changes to their positions in ARI. No Street GP LP grew its stake in shares of Apollo Commercial Real Estate Finance by 33.3% in the 3rd quarter. No Street GP LP now owns 3,000,000 shares of the real estate investment trust’s stock valued at $30,390,000 after buying an additional 750,000 shares in the last quarter. Waterfall Asset Management LLC bought a new position in Apollo Commercial Real Estate Finance during the fourth quarter valued at approximately $5,557,000. First Trust Advisors LP lifted its stake in Apollo Commercial Real Estate Finance by 710.3% in the fourth quarter. First Trust Advisors LP now owns 636,383 shares of the real estate investment trust’s stock valued at $6,160,000 after acquiring an additional 557,850 shares during the last quarter. Millennium Management LLC grew its position in Apollo Commercial Real Estate Finance by 2,573.9% in the fourth quarter. Millennium Management LLC now owns 504,054 shares of the real estate investment trust’s stock worth $4,879,000 after acquiring an additional 485,203 shares in the last quarter. Finally, Invesco Ltd. grew its position in Apollo Commercial Real Estate Finance by 50.4% in the second quarter. Invesco Ltd. now owns 1,291,072 shares of the real estate investment trust’s stock worth $12,498,000 after acquiring an additional 432,377 shares in the last quarter. 54.43% of the stock is currently owned by institutional investors and hedge funds.

Apollo Commercial Real Estate Finance Stock Performance

NYSE:ARI opened at $6.75 on Friday. The firm has a market capitalization of $882.24 million, a PE ratio of 8.33 and a beta of 1.36. Apollo Commercial Real Estate Finance has a 1 year low of $6.43 and a 1 year high of $11.24. The company has a current ratio of 81.81, a quick ratio of 81.80 and a debt-to-equity ratio of 0.68. The firm’s fifty day simple moving average is $9.34 and its 200 day simple moving average is $10.22.

Apollo Commercial Real Estate Finance Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a $3.75 dividend. This is a positive change 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 222.3%. Apollo Commercial Real Estate Finance’s payout ratio is presently 123.46%.

Analyst Ratings Changes

ARI has been the topic of several analyst reports. Weiss Ratings lowered shares of Apollo Commercial Real Estate Finance from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, July 30th. Bank of America assumed coverage on shares of Apollo Commercial Real Estate Finance in a report on Tuesday, May 5th. They issued a “neutral” rating and a $11.50 price objective for the company. Zacks Research downgraded shares of Apollo Commercial Real Estate Finance from a “hold” rating to a “strong sell” rating in a research report on Monday, August 3rd. BTIG Research cut Apollo Commercial Real Estate Finance from a “buy” rating to a “neutral” rating in a research report on Thursday, June 25th. Finally, Wall Street Zen downgraded Apollo Commercial Real Estate Finance from a “hold” rating to a “sell” rating in a research note on Saturday, May 2nd. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Apollo Commercial Real Estate Finance currently has an average rating of “Hold” and an average target price of $11.33.

Insider Activity at Apollo Commercial Real Estate Finance

In related news, Director Carmencita N.M. Whonder sold 4,574 shares of the business’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $10.93, for a total transaction of $49,993.82. Following the completion of the transaction, the director owned 24,799 shares of the company’s stock, valued at approximately $271,053.07. The trade was a 15.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.52% of the company’s stock.

About Apollo Commercial Real Estate Finance

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.