Apollo Commercial Real Estate Finance Upgraded to “Neutral” at Zacks (ARI)
Apollo Commercial Real Estate Finance (NYSE:ARI) was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a research report issued on Thursday. The firm currently has a $17.20 price objective on the stock. Zacks‘s price target indicates a potential upside of 2.75% from the stock’s previous close.
Apollo Commercial Real Estate Finance (NYSE:ARI) traded up 0.18% during mid-day trading on Thursday, hitting $16.77. The stock had a trading volume of 226,346 shares. Apollo Commercial Real Estate Finance has a 52-week low of $14.56 and a 52-week high of $17.18. The stock has a 50-day moving average of $16.68 and a 200-day moving average of $16.63. The company has a market cap of $622.8 million and a price-to-earnings ratio of 12.37. Apollo Commercial Real Estate Finance also saw a large decrease in short interest in May. As of May 15th, there was short interest totalling 1,104,504 shares, a decrease of 35.1% from the April 30th total of 1,700,684 shares. Approximately 3.0% of the shares of the stock are sold short. Based on an average daily volume of 1,199,817 shares, the days-to-cover ratio is currently 0.9 days.
Apollo Commercial Real Estate Finance (NYSE:ARI) last announced its earnings results on Tuesday, April 29th. The company reported $0.37 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.41 by $0.04. During the same quarter in the prior year, the company posted $0.33 earnings per share.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 9.56%. The ex-dividend date of this dividend is Thursday, June 26th.
Separately, analysts at JMP Securities cut their price target on shares of Apollo Commercial Real Estate Finance to $18.00 in a research note on Monday.
Apollo Commercial Real Estate Finance, Inc is a real estate investment trust (NYSE:ARI) that primarily originates, acquires, invests in and manages performing commercial first mortgage loans, commercial mortgage-backed securities (CMBS), subordinate financings and other commercial real estate-related debt investments in the United States.
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