Apollo Commercial Real Estate Finance (NYSE:ARI – Free Report) had its target price reduced by JPMorgan Chase & Co. from $9.50 to $8.50 in a report released on Thursday morning, Benzinga reports. They currently have a neutral rating on the real estate investment trust’s stock.
Separately, BTIG Research assumed coverage on Apollo Commercial Real Estate Finance in a research note on Friday, July 19th. They set a “neutral” rating on the stock. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $9.88.
Check Out Our Latest Research Report on ARI
Apollo Commercial Real Estate Finance Stock Performance
Apollo Commercial Real Estate Finance Cuts Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.00 dividend on an annualized basis and a yield of 11.24%. Apollo Commercial Real Estate Finance’s payout ratio is -128.21%.
Insiders Place Their Bets
In related news, Director Scott Prince sold 4,935 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $10.12, for a total transaction of $49,942.20. Following the completion of the sale, the director now directly owns 81,154 shares of the company’s stock, valued at approximately $821,278.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.68% of the company’s stock.
Hedge Funds Weigh In On Apollo Commercial Real Estate Finance
A number of large investors have recently added to or reduced their stakes in the company. HighPoint Advisor Group LLC acquired a new stake in Apollo Commercial Real Estate Finance in the 4th quarter valued at approximately $132,000. Future Financial Wealth Managment LLC bought a new stake in shares of Apollo Commercial Real Estate Finance in the first quarter worth $56,000. Cascade Wealth Advisors Inc acquired a new position in Apollo Commercial Real Estate Finance during the first quarter worth $134,000. Van ECK Associates Corp grew its position in Apollo Commercial Real Estate Finance by 2.7% in the first quarter. Van ECK Associates Corp now owns 783,036 shares of the real estate investment trust’s stock valued at $8,723,000 after purchasing an additional 20,957 shares in the last quarter. Finally, Private Advisor Group LLC increased its stake in Apollo Commercial Real Estate Finance by 73.2% in the 1st quarter. Private Advisor Group LLC now owns 39,901 shares of the real estate investment trust’s stock valued at $444,000 after buying an additional 16,862 shares during the last quarter. Institutional investors own 54.43% of the company’s stock.
About Apollo Commercial Real Estate Finance
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.
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