Apollo Commercial Real Estate Finance, Inc. (NYSE:ARI) Shares Sold by Bank of America Corp DE

Bank of America Corp DE lowered its stake in shares of Apollo Commercial Real Estate Finance, Inc. (NYSE:ARI) by 36.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 214,899 shares of the real estate investment trust’s stock after selling 123,070 shares during the period. Bank of America Corp DE owned 0.16% of Apollo Commercial Real Estate Finance worth $1,861,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Ameriprise Financial Inc. boosted its stake in shares of Apollo Commercial Real Estate Finance by 3.5% during the fourth quarter. Ameriprise Financial Inc. now owns 429,738 shares of the real estate investment trust’s stock valued at $3,731,000 after acquiring an additional 14,682 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its stake in shares of Apollo Commercial Real Estate Finance by 4.5% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 44,663 shares of the real estate investment trust’s stock valued at $387,000 after acquiring an additional 1,906 shares during the last quarter. Triumph Capital Management boosted its stake in shares of Apollo Commercial Real Estate Finance by 58.4% during the fourth quarter. Triumph Capital Management now owns 67,834 shares of the real estate investment trust’s stock valued at $587,000 after acquiring an additional 25,000 shares during the last quarter. Northern Trust Corp boosted its stake in shares of 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 valued at $15,116,000 after acquiring an additional 226,399 shares during the last quarter. Finally, Beacon Pointe Advisors LLC acquired a new stake in shares of Apollo Commercial Real Estate Finance during the fourth quarter valued at $95,000. Institutional investors and hedge funds own 54.43% of the company’s stock.

Apollo Commercial Real Estate Finance Stock Performance

Apollo Commercial Real Estate Finance stock opened at $9.88 on Wednesday. The stock’s 50-day moving average is $9.21 and its 200-day moving average is $9.30. The company has a market cap of $1.37 billion, a price-to-earnings ratio of -10.39 and a beta of 1.49. The company has a debt-to-equity ratio of 0.67, a current ratio of 51.19 and a quick ratio of 51.19. Apollo Commercial Real Estate Finance, Inc. has a 12 month low of $7.70 and a 12 month high of $11.20.

Apollo Commercial Real Estate Finance Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a dividend of $0.25 per share. The ex-dividend date was Monday, March 31st. This represents a $1.00 annualized dividend and a dividend yield of 10.13%. Apollo Commercial Real Estate Finance’s payout ratio is currently -3,333.33%.

Insider Activity at Apollo Commercial Real Estate Finance

In other Apollo Commercial Real Estate Finance news, Director Mark C. Biderman sold 10,000 shares of Apollo Commercial Real Estate Finance stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $9.48, for a total transaction of $94,800.00. Following the sale, the director now directly owns 60,787 shares in the company, valued at $576,260.76. The trade was a 14.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Stuart Rothstein sold 52,074 shares of Apollo Commercial Real Estate Finance stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $9.99, for a total value of $520,219.26. Following the sale, the chief executive officer now owns 385,928 shares in the company, valued at $3,855,420.72. This represents a 11.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.68% of the company’s stock.

Analysts Set New Price Targets

ARI has been the topic of several recent analyst reports. Wall Street Zen downgraded Apollo Commercial Real Estate Finance from a “buy” rating to a “hold” rating in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. raised their price target 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. UBS Group restated a “neutral” rating and issued a $10.00 price objective (up from $9.00) on shares of Apollo Commercial Real Estate Finance in a report on Wednesday, May 21st. BTIG Research upgraded Apollo Commercial Real Estate Finance from a “neutral” rating to a “buy” rating and set a $11.00 price objective on the stock in a report on Wednesday, April 23rd. Finally, JMP Securities restated a “market perform” rating on shares of Apollo Commercial Real Estate Finance in a report on Tuesday, April 29th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $10.13.

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.