Apollo Commercial Real Estate Finance (NYSE:ARI) Stock Rating Lowered by Zacks Investment Research
Apollo Commercial Real Estate Finance (NYSE: ARI) was downgraded from a “buy” rating to a “hold” rating by Zacks Investment Research in a note issued to investors on Monday, reports Zacks.com.
According to Zacks, Apollo Commercial Real Estate Finance, Inc. is focused on investing in, acquiring, and managing senior commercial mortgage loans, mortgage-backed securities, corporate bonds and loans for commercial real estate, and other real estate bonds.The company is a commercial real estate finance company owned by ACREFI Management, LLC, an indirect subsidiary of Apollo Global Management, LLC, manages and advises.
ARI has been the subject of a number of other reports. Credit Suisse Group raised its target price for Apollo Commercial Real Estate Finance from 13.00 to 15.00 US dollars and gave the company a “neutral” rating in a research rating on Wednesday, March 17. Raymond James confirmed a “hold” rating on shares of Apollo Commercial Real Estate Finance in a research release on Monday April 26th.
ARI’s shares fell $ 0.16 during Monday’s midday trading to hit $ 16.36. The company’s stock had a trading volume of 803,719 shares versus an average volume of 927,494 shares. Apollo Commercial Real Estate Finance has an annual low of $ 8.32 and an annual high of $ 16.94. The company has a debt of 0.59, a current ratio of 80.75 and a quick ratio of 80.75. The company has a market capitalization of $ 2.29 billion, a price / earnings ratio of 12.88, and a beta of 1.30. The company has a 50-day moving average of $ 15.61.
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In other news, CEO Stuart Rothstein sold 29,283 shares in the company in one transaction on Monday, June 7th. The stock sold at an average price of $ 16.51 for a total value of $ 483,462.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed on the SEC website. In addition, director Mark C. Biderman sold 7,050 shares in the company in a transaction on Monday April 26. The shares were sold at an average price of $ 14.96 for a total value of $ 105,468.00. Upon completion of the transaction, the director now owns 68,601 shares in the company valued at approximately $ 1,026,270.96. The disclosure for this sale can be found here. In the past 90 days, insiders have sold 70,583 shares in the company, valued at $ 1,110,244. 0.46% of the shares are currently owned by company insiders.
A number of institutional investors and hedge funds have recently changed their holdings in the business. Advisory Services Network LLC increased its stake in Apollo Commercial Real Estate Finance by 14.9% in the first quarter. Advisory Services Network LLC now owns 15,298 shares in the real estate investment trust valued at $ 214,000 after purchasing an additional 1,989 shares in the last quarter. Advisor Partners LLC increased its stake in Apollo Commercial Real Estate Finance by 7.6% in the first quarter. Advisor Partners LLC now owns 22,734 shares of the real estate investment trust valued at $ 318,000 after purchasing an additional 1,612 shares last quarter. Principal Financial Group Inc. increased its stake in Apollo Commercial Real Estate Finance by 1.2% in the first quarter. Principal Financial Group Inc. now owns 898,697 shares in the real estate investment trust valued at $ 12,555,000 after purchasing an additional 10,779 shares in the most recent quarter. Eaton Vance Management bought a new position in Apollo Commercial Real Estate Finance shares valued at approximately $ 25,000 in the first quarter. Finally, Tudor Investment Corp Et Al increased its stake in Apollo Commercial Real Estate Finance by 28.1% in the 1st quarter. Tudor Investment Corp et al now owns 133,235 shares of the real estate investment trust valued at $ 1,861,000 after purchasing an additional 29,220 shares last quarter. Hedge funds and other institutional investors own 60.40% 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 raises, purchases, invests and manages commercial prime mortgage loans, subordinated finance and other commercial real estate-related debt in the United States. It is qualified as a REIT under the Internal Revenue Code.
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