Apollo Commercial Real Estate Finance (NYSE:ARI) Price Target Raised to $11.00 at JPMorgan Chase & Co.

Apollo Commercial Real Estate Finance (NYSE:ARI) had its price target increased by JPMorgan Chase & Co. from $10.50 to $11.00 in a report published on Monday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the real estate investment trust’s stock.

ARI has been the subject of several other reports. Keefe, Bruyette & Woods increased their price objective on shares of Apollo Commercial Real Estate Finance from $10.75 to $11.00 and gave the company an “outperform” rating in a report on Thursday, October 9th. UBS Group increased their price objective on shares of Apollo Commercial Real Estate Finance from $10.00 to $10.50 and gave the company a “neutral” rating in a report on Tuesday, July 15th. Zacks Research cut shares of Apollo Commercial Real Estate Finance from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 16th. Finally, Weiss Ratings cut shares of Apollo Commercial Real Estate Finance from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, October 24th. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Apollo Commercial Real Estate Finance has a consensus rating of “Hold” and an average target price of $10.88.

Apollo Commercial Real Estate Finance Price Performance

Shares of NYSE:ARI opened at $9.72 on Monday. The firm’s 50 day moving average is $10.34 and its two-hundred day moving average is $9.96. Apollo Commercial Real Estate Finance has a 52 week low of $7.70 and a 52 week high of $11.11. The firm has a market capitalization of $1.35 billion, a P/E ratio of 10.92, a PEG ratio of 0.56 and a beta of 1.60. The company has a current ratio of 90.32, a quick ratio of 90.32 and a debt-to-equity ratio of 0.66.

Apollo Commercial Real Estate Finance Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 10.3%. The ex-dividend date was Tuesday, September 30th. Apollo Commercial Real Estate Finance’s dividend payout ratio (DPR) is presently 112.36%.

Insiders Place Their Bets

In related news, CEO Stuart Rothstein sold 52,073 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $10.78, for a total transaction of $561,346.94. Following the completion of the sale, the chief executive officer directly owned 281,781 shares in the company, valued at approximately $3,037,599.18. This trade represents a 15.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.68% of the company’s stock.

Institutional Trading of Apollo Commercial Real Estate Finance

A number of large investors have recently added to or reduced their stakes in the business. Kingstone Capital Partners Texas LLC bought a new stake in Apollo Commercial Real Estate Finance during the second quarter worth approximately $271,921,000. Charles Schwab Investment Management Inc. boosted its holdings in Apollo Commercial Real Estate Finance by 2.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,326,569 shares of the real estate investment trust’s stock worth $22,265,000 after buying an additional 63,191 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Apollo Commercial Real Estate Finance by 5.2% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,951,609 shares of the real estate investment trust’s stock worth $18,892,000 after purchasing an additional 96,493 shares during the period. Invesco Ltd. boosted its stake in Apollo Commercial Real Estate Finance by 50.4% in the 2nd quarter. Invesco Ltd. now owns 1,291,072 shares of the real estate investment trust’s stock worth $12,498,000 after purchasing an additional 432,377 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in Apollo Commercial Real Estate Finance by 1.3% in the 1st quarter. Bank of New York Mellon Corp now owns 1,036,715 shares of the real estate investment trust’s stock worth $9,921,000 after purchasing an additional 13,774 shares during the period. 54.43% of the stock is currently owned by institutional investors.

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.