Apollo Commercial Real Estate Finance (NYSE:ARI) Shares Down 7%

Apollo Commercial Real Estate Finance, Inc. (NYSE:ARI) shares dropped 7% during trading on Tuesday . The company traded as low as $9.91 and last traded at $9.93. Approximately 572,863 shares traded hands during mid-day trading, a decline of 25% from the average daily volume of 768,081 shares. The stock had previously closed at $10.68.

Analyst Ratings Changes

ARI has been the subject of a number of research reports. Bank of America cut Apollo Commercial Real Estate Finance from a “neutral” rating to an “underperform” rating and set a $10.50 price target for the company. in a research note on Monday, March 4th. Keefe, Bruyette & Woods dropped their price target on Apollo Commercial Real Estate Finance from $11.00 to $10.00 and set a “market perform” rating for the company in a research note on Wednesday. TheStreet upgraded Apollo Commercial Real Estate Finance from a “d+” rating to a “c-” rating in a research note on Wednesday, March 20th. Finally, JPMorgan Chase & Co. decreased their price objective on Apollo Commercial Real Estate Finance from $11.00 to $10.50 and set a “neutral” rating for the company in a report on Wednesday, April 10th. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company. According to MarketBeat, Apollo Commercial Real Estate Finance presently has an average rating of “Hold” and an average price target of $10.38.

Apollo Commercial Real Estate Finance Price Performance

The stock has a fifty day moving average of $10.90 and a two-hundred day moving average of $11.00. The company has a quick ratio of 67.73, a current ratio of 52.35 and a debt-to-equity ratio of 0.61.

Apollo Commercial Real Estate Finance Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a dividend of $0.35 per share. The ex-dividend date was Wednesday, March 27th. This represents a $1.40 dividend on an annualized basis and a yield of 14.01%. Apollo Commercial Real Estate Finance’s payout ratio is currently -179.49%.

Insiders Place Their Bets

In other Apollo Commercial Real Estate Finance news, CEO Stuart Rothstein sold 40,000 shares of the stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $10.60, for a total transaction of $424,000.00. Following the completion of the sale, the chief executive officer now directly owns 415,292 shares in the company, valued at approximately $4,402,095.20. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.61% of the company’s stock.

Institutional Trading of Apollo Commercial Real Estate Finance

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in shares of Apollo Commercial Real Estate Finance by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 15,665,083 shares of the real estate investment trust’s stock worth $158,687,000 after purchasing an additional 54,938 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Apollo Commercial Real Estate Finance by 6.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,961,777 shares of the real estate investment trust’s stock valued at $23,031,000 after acquiring an additional 120,055 shares in the last quarter. Norges Bank bought a new position in Apollo Commercial Real Estate Finance in the 4th quarter valued at about $12,006,000. Invesco Ltd. lifted its position in shares of Apollo Commercial Real Estate Finance by 0.8% during the 3rd quarter. Invesco Ltd. now owns 1,015,552 shares of the real estate investment trust’s stock worth $10,288,000 after buying an additional 8,495 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position 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 in the last quarter. 54.43% of the stock is currently owned by institutional investors and hedge funds.

Apollo Commercial Real Estate Finance Company Profile

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.