Apollo Commercial Real Estate Finance (NYSE:ARI) Price Target Lowered to $8.50 at JPMorgan Chase & Co.

Apollo Commercial Real Estate Finance (NYSE:ARI) had its price objective lowered by JPMorgan Chase & Co. from $9.50 to $8.50 in a report published on Thursday morning, Benzinga reports. The brokerage currently has a neutral rating on the real estate investment trust’s stock.

Separately, BTIG Research assumed coverage on shares of Apollo Commercial Real Estate Finance in a report on Friday, July 19th. They set a “neutral” rating for the company. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $9.88.

Apollo Commercial Real Estate Finance Stock Down 1.0 %

Apollo Commercial Real Estate Finance stock opened at $8.90 on Thursday. The firm has a market capitalization of $1.27 billion, a P/E ratio of -11.41, a P/E/G ratio of 1.93 and a beta of 1.75. The company has a current ratio of 54.21, a quick ratio of 54.21 and a debt-to-equity ratio of 0.63. Apollo Commercial Real Estate Finance has a twelve month low of $8.52 and a twelve month high of $12.74. The stock’s fifty day simple moving average is $9.71 and its 200-day simple moving average is $10.12.

Apollo Commercial Real Estate Finance Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 11.24%. The ex-dividend date of this dividend was Monday, September 30th. Apollo Commercial Real Estate Finance’s dividend payout ratio (DPR) is -128.21%.

Insider Buying and Selling at Apollo Commercial Real Estate Finance

In other news, Director Scott Prince sold 4,935 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $10.12, for a total value of $49,942.20. Following the completion of the transaction, the director now owns 81,154 shares in the company, valued at approximately $821,278.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.68% of the stock is currently owned by insiders.

Institutional Trading of Apollo Commercial Real Estate Finance

Several institutional investors and hedge funds have recently made changes to their positions in ARI. Bank of New York Mellon Corp grew its stake in Apollo Commercial Real Estate Finance by 1.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,074,796 shares of the real estate investment trust’s stock worth $10,522,000 after buying an additional 19,611 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of Apollo Commercial Real Estate Finance by 32.1% in the 2nd quarter. Van ECK Associates Corp now owns 1,034,316 shares of the real estate investment trust’s stock valued at $10,126,000 after acquiring an additional 251,280 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in Apollo Commercial Real Estate Finance by 11.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 789,761 shares of the real estate investment trust’s stock valued at $8,798,000 after purchasing an additional 78,833 shares during the last quarter. Luxor Capital Group LP purchased a new stake in Apollo Commercial Real Estate Finance in the 2nd quarter valued at $7,342,000. Finally, Cetera Investment Advisers grew its position in Apollo Commercial Real Estate Finance by 5.8% during the 2nd quarter. Cetera Investment Advisers now owns 330,228 shares of the real estate investment trust’s stock worth $3,233,000 after purchasing an additional 18,150 shares during the last quarter. 54.43% of the stock is owned by hedge funds and other institutional investors.

Apollo Commercial Real Estate Finance Company Profile

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.