Keefe, Bruyette & Woods Cuts Apollo Commercial Real Estate Finance (NYSE:ARI) Price Target to $10.00

Apollo Commercial Real Estate Finance (NYSE:ARI) had its target price trimmed by Keefe, Bruyette & Woods from $11.00 to $10.00 in a research report sent to investors on Wednesday morning, Benzinga reports. The brokerage currently has a market perform rating on the real estate investment trust’s stock.

Several other equities research analysts have also recently issued reports on the stock. Bank of America cut shares of Apollo Commercial Real Estate Finance from a neutral rating to an underperform rating and set a $10.50 price objective for the company. in a research report on Monday, March 4th. TheStreet raised 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 target price on Apollo Commercial Real Estate Finance from $11.00 to $10.50 and set a neutral rating for the company in a research report on Wednesday, April 10th. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $10.38.

Apollo Commercial Real Estate Finance Price Performance

ARI opened at $10.05 on Wednesday. The business has a fifty day moving average of $10.87 and a 200 day moving average of $11.00. The stock has a market cap of $1.43 billion, a P/E ratio of -12.88 and a beta of 1.69. 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 has a 52-week low of $9.22 and a 52-week high of $12.74.

Apollo Commercial Real Estate Finance Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 13.93%. The ex-dividend date was Wednesday, March 27th. Apollo Commercial Real Estate Finance’s payout ratio is -179.49%.

Insiders Place Their Bets

In other news, Director Mark C. Biderman sold 15,000 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $10.00, for a total value of $150,000.00. Following the completion of the transaction, the director now directly owns 60,625 shares of the company’s stock, valued at approximately $606,250. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Mark C. Biderman sold 15,000 shares of Apollo Commercial Real Estate Finance stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $10.00, for a total value of $150,000.00. Following the transaction, the director now owns 60,625 shares of the company’s stock, valued at approximately $606,250. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Stuart Rothstein sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $10.60, for a total transaction of $424,000.00. Following the transaction, the chief executive officer now owns 415,292 shares of the company’s stock, valued at approximately $4,402,095.20. The disclosure for this sale can be found here. 0.61% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Future Financial Wealth Managment LLC acquired a new stake in Apollo Commercial Real Estate Finance in the first quarter worth about $56,000. Naples Money Management LLC purchased a new stake in Apollo Commercial Real Estate Finance during the 4th quarter worth approximately $64,000. EMC Capital Management increased its stake in Apollo Commercial Real Estate Finance by 134.6% during the 3rd quarter. EMC Capital Management now owns 6,922 shares of the real estate investment trust’s stock valued at $70,000 after purchasing an additional 3,971 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC purchased a new position in shares of Apollo Commercial Real Estate Finance in the third quarter worth $105,000. Finally, Hollencrest Capital Management lifted its stake in shares of Apollo Commercial Real Estate Finance by 100.0% during the first quarter. Hollencrest Capital Management now owns 10,000 shares of the real estate investment trust’s stock worth $111,000 after buying an additional 5,000 shares during the period. 54.43% of the stock is currently owned by hedge funds and other institutional investors.

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.