Apollo Commercial Real Estate Finance (NYSE:ARI) declared a quarterly dividend on Friday, September 15th, Wall Street Journal reports. Investors of record on Friday, September 29th will be paid a dividend of 0.46 per share by the real estate investment trust on Monday, October 16th. This represents a $1.84 annualized dividend and a yield of 10.24%. The ex-dividend date of this dividend is Thursday, September 28th.

Apollo Commercial Real Estate Finance has raised its dividend by an average of 4.8% per year over the last three years and has increased its dividend every year for the last 2 years. Apollo Commercial Real Estate Finance has a payout ratio of 101.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Apollo Commercial Real Estate Finance to earn $2.04 per share next year, which means the company should continue to be able to cover its $1.84 annual dividend with an expected future payout ratio of 90.2%.

Shares of Apollo Commercial Real Estate Finance (ARI) traded up 0.39% on Friday, reaching $17.97. The company had a trading volume of 3,172,744 shares. The firm has a market cap of $1.89 billion, a P/E ratio of 8.90 and a beta of 0.64. Apollo Commercial Real Estate Finance has a one year low of $15.54 and a one year high of $19.92. The company has a 50-day moving average price of $17.95 and a 200-day moving average price of $18.41.

Apollo Commercial Real Estate Finance (NYSE:ARI) last released its earnings results on Tuesday, August 1st. The real estate investment trust reported $0.46 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.47 by ($0.01). The firm had revenue of $62.22 million during the quarter, compared to analyst estimates of $63.75 million. Apollo Commercial Real Estate Finance had a net margin of 93.54% and a return on equity of 9.59%. The firm’s quarterly revenue was up 32.6% on a year-over-year basis. During the same period last year, the business posted $0.49 earnings per share. On average, analysts expect that Apollo Commercial Real Estate Finance will post $1.84 earnings per share for the current fiscal year.

Several research firms have recently commented on ARI. Royal Bank Of Canada reissued a “buy” rating and issued a $19.00 target price on shares of Apollo Commercial Real Estate Finance in a research note on Thursday, July 20th. BidaskClub cut Apollo Commercial Real Estate Finance from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Zacks Investment Research cut Apollo Commercial Real Estate Finance from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $18.00 target price on shares of Apollo Commercial Real Estate Finance in a research note on Friday, June 9th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $19.33.

In related news, CEO Stuart Rothstein sold 25,000 shares of Apollo Commercial Real Estate Finance stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $18.69, for a total transaction of $467,250.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.62% of the stock is currently owned by company insiders.

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Apollo Commercial Real Estate Finance Company Profile

Apollo Commercial Real Estate Finance, Inc is a real estate investment trust. The Company primarily originates, acquires, invests in and manages performing commercial first mortgage loans, subordinate financings, commercial mortgage-backed securities (CMBS) and other commercial real estate-related debt investments.

Dividend History for Apollo Commercial Real Estate Finance (NYSE:ARI)

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