Apollo Commercial Real Estate Finance (NYSE:ARI) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System lowered its stake in shares of Apollo Commercial Real Estate Finance (NYSE:ARI) by 13.3% in the first quarter, Holdings Channel reports. The institutional investor owned 37,283 shares of the real estate investment trust’s stock after selling 5,698 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Apollo Commercial Real Estate Finance were worth $357,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in ARI. Nomura Holdings Inc. acquired a new stake in shares of Apollo Commercial Real Estate Finance during the fourth quarter worth approximately $31,684,000. JPMorgan Chase & Co. lifted its stake in Apollo Commercial Real Estate Finance by 130.1% during the fourth quarter. JPMorgan Chase & Co. now owns 480,852 shares of the real estate investment trust’s stock worth $4,164,000 after purchasing an additional 271,908 shares during the last quarter. Northern Trust Corp lifted its stake in Apollo Commercial Real Estate Finance by 14.9% during the fourth quarter. Northern Trust Corp now owns 1,745,469 shares of the real estate investment trust’s stock worth $15,116,000 after purchasing an additional 226,399 shares during the last quarter. Millennium Management LLC lifted its stake in Apollo Commercial Real Estate Finance by 265.3% during the fourth quarter. Millennium Management LLC now owns 232,627 shares of the real estate investment trust’s stock worth $2,015,000 after purchasing an additional 168,948 shares during the last quarter. Finally, Nuveen Asset Management LLC lifted its stake in Apollo Commercial Real Estate Finance by 26.5% during the fourth quarter. Nuveen Asset Management LLC now owns 666,730 shares of the real estate investment trust’s stock worth $5,774,000 after purchasing an additional 139,643 shares during the last quarter. Institutional investors and hedge funds own 54.43% of the company’s stock.

Insider Transactions at Apollo Commercial Real Estate Finance

In other Apollo Commercial Real Estate Finance news, CEO Stuart Rothstein sold 52,074 shares of the firm’s stock in a transaction on Monday, June 16th. The stock was sold at an average price of $9.83, for a total value of $511,887.42. Following the sale, the chief executive officer directly owned 333,854 shares in the company, valued at approximately $3,281,784.82. This trade represents a 13.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.68% of the company’s stock.

Apollo Commercial Real Estate Finance Stock Performance

ARI stock opened at $10.05 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 98.25 and a current ratio of 98.25. The stock has a market capitalization of $1.40 billion, a price-to-earnings ratio of -71.79, a PEG ratio of 0.29 and a beta of 1.50. Apollo Commercial Real Estate Finance has a 1 year low of $7.70 and a 1 year high of $10.61. The stock’s fifty day moving average is $9.87 and its two-hundred day moving average is $9.61.

Apollo Commercial Real Estate Finance Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 10.0%. The ex-dividend date was Monday, June 30th. Apollo Commercial Real Estate Finance’s dividend payout ratio (DPR) is presently -714.29%.

Analyst Ratings Changes

ARI has been the topic of several research analyst reports. Wall Street Zen cut Apollo Commercial Real Estate Finance from a “buy” rating to a “hold” rating in a research note on Wednesday, April 23rd. Keefe, Bruyette & Woods raised their price objective on Apollo Commercial Real Estate Finance from $10.50 to $10.75 and gave the stock an “outperform” rating in a research note on Thursday, July 10th. JMP Securities restated a “market perform” rating on shares of Apollo Commercial Real Estate Finance in a research note on Tuesday, April 29th. JPMorgan Chase & Co. raised their price objective on Apollo Commercial Real Estate Finance from $8.00 to $9.00 and gave the stock a “neutral” rating in a research note on Monday, April 28th. Finally, BTIG Research upgraded Apollo Commercial Real Estate Finance from a “neutral” rating to a “buy” rating and set a $11.00 target price on the stock in a research note on Wednesday, April 23rd. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $10.31.

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.