Truist Financial Corp Reduces Holdings in Apollo Commercial Real Estate Finance, Inc. (NYSE:ARI)

Truist Financial Corp reduced its stake in Apollo Commercial Real Estate Finance, Inc. (NYSE:ARI – Get Rating) by 99.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,161 shares of the real estate investment trust’s stock after selling 2,468,903 shares during the quarter. Truist Financial Corp’s holdings in Apollo Commercial Real Estate Finance were worth $92,000 at the end of the most recent quarter.

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Several other large investors also recently added to or reduced their stakes in the stock. Maryland State Retirement & Pension System grew its holdings in Apollo Commercial Real Estate Finance by 1.6% in the 2nd quarter. Maryland State Retirement & Pension System now owns 54,031 shares of the real estate investment trust’s stock valued at $564,000 after buying an additional 841 shares in the last quarter. Mackenzie Financial Corp grew its holdings in Apollo Commercial Real Estate Finance by 6.1% in the 1st quarter. Mackenzie Financial Corp now owns 15,016 shares of the real estate investment trust’s stock valued at $209,000 after buying an additional 857 shares in the last quarter. H&H Retirement Design & Management INC grew its holdings in Apollo Commercial Real Estate Finance by 3.6% in the 3rd quarter. H&H Retirement Design & Management INC now owns 30,761 shares of the real estate investment trust’s stock valued at $279,000 after buying an additional 1,060 shares in the last quarter. Koshinski Asset Management Inc. grew its holdings in Apollo Commercial Real Estate Finance by 7.9% in the 3rd quarter. Koshinski Asset Management Inc. now owns 16,779 shares of the real estate investment trust’s stock valued at $139,000 after buying an additional 1,226 shares in the last quarter. Finally, CWM LLC grew its holdings in Apollo Commercial Real Estate Finance by 100.9% in the 2nd quarter. CWM LLC now owns 2,475 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 1,243 shares in the last quarter. 54.57% of the stock is currently owned by hedge funds and other institutional investors.

Apollo Commercial Real Estate Finance Price Performance

ARI opened at $12.00 on Friday. The stock’s 50-day moving average price is $11.55 and its 200-day moving average price is $11.27. Apollo Commercial Real Estate Finance, Inc. has a 12-month low of $7.91 and a 12-month high of $14.55. The company has a current ratio of 22.02, a quick ratio of 22.02 and a debt-to-equity ratio of 0.62. The firm has a market cap of $1.69 billion, a price-to-earnings ratio of 6.38 and a beta of 1.55.

Apollo Commercial Real Estate Finance Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 13th. Investors of record on Friday, December 30th were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 11.67%. The ex-dividend date of this dividend was Thursday, December 29th. Apollo Commercial Real Estate Finance’s payout ratio is 74.47%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ARI. StockNews.com began coverage on Apollo Commercial Real Estate Finance in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. JPMorgan Chase & Co. decreased their price target on Apollo Commercial Real Estate Finance from $11.00 to $9.50 and set an “underweight” rating on the stock in a research note on Monday, October 24th. Bank of America reaffirmed a “neutral” rating and issued a $12.00 price target on shares in Apollo Commercial Real Estate Finance in a research note on Monday, November 21st. Credit Suisse Group decreased their price target on Apollo Commercial Real Estate Finance to $11.00 in a research note on Thursday, October 13th. Finally, Bank Of America (Bofa) began coverage on Apollo Commercial Real Estate Finance in a research note on Tuesday, November 22nd. They issued a “neutral” rating and a $12.00 price target on the stock.

Insider buying and selling

In other news, CEO Stuart Rothstein bought 15,000 shares of the firm’s stock in a transaction that occurred on Monday, November 7th. The shares were purchased at an average price of $11.18 per share, with a total value of $167,700.00. Following the purchase, the chief executive officer now owns 452,676 shares in the company, valued at $5,060,917.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.73% of the stock is owned by corporate insiders.

Apollo Commercial Real Estate Finance Company Profile

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Apollo Commercial Real Estate Finance, Inc is a real estate investment trust which originates, acquires, invests in, and manages performing commercial real estate mortgage loans, subordinate financings, and other commercial real estate-related debt investments. It offers loan programs that include senior loans, subordinate debt, bridge loans, and preferred equity.

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