State of Alaska Department of Revenue Has $667,000 Stake in Apollo Commercial Real Estate Finance, Inc. (NYSE:ARI)

State of Alaska Department of Revenue trimmed its holdings in Apollo Commercial Real Estate Finance, Inc. (NYSE:ARI) by 5.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 72,633 shares of the real estate investment trust’s stock after selling 4,156 shares during the period. State of Alaska Department of Revenue owned 0.05% of Apollo Commercial Real Estate Finance worth $667,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Luxor Capital Group LP acquired a new position in shares of Apollo Commercial Real Estate Finance during the second quarter worth $7,342,000. Van ECK Associates Corp boosted its position in shares of Apollo Commercial Real Estate Finance by 32.1% during the 2nd quarter. Van ECK Associates Corp now owns 1,034,316 shares of the real estate investment trust’s stock worth $10,126,000 after purchasing an additional 251,280 shares in the last quarter. Cetera Advisors LLC raised its holdings in shares of Apollo Commercial Real Estate Finance by 400.4% in the 1st quarter. Cetera Advisors LLC now owns 83,443 shares of the real estate investment trust’s stock worth $930,000 after acquiring an additional 66,768 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Apollo Commercial Real Estate Finance by 36.1% in the 2nd quarter. Victory Capital Management Inc. now owns 225,123 shares of the real estate investment trust’s stock worth $2,204,000 after acquiring an additional 59,764 shares during the last quarter. Finally, Novare Capital Management LLC increased its stake in Apollo Commercial Real Estate Finance by 126.4% in the 3rd quarter. Novare Capital Management LLC now owns 81,050 shares of the real estate investment trust’s stock valued at $745,000 after buying an additional 45,250 shares during the last quarter. 54.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on ARI. StockNews.com lowered shares of Apollo Commercial Real Estate Finance from a “hold” rating to a “sell” rating in a research note on Monday. BTIG Research assumed coverage on shares of Apollo Commercial Real Estate Finance in a report on Friday, July 19th. They issued a “neutral” rating for the company. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Apollo Commercial Real Estate Finance from $9.50 to $8.50 and set a “neutral” rating on the stock in a research report on Thursday, October 17th. Two research analysts have rated the stock with a sell rating and four have given a hold rating to the company. According to data from MarketBeat, Apollo Commercial Real Estate Finance currently has a consensus rating of “Hold” and a consensus target price of $9.88.

Apollo Commercial Real Estate Finance Price Performance

ARI stock opened at $9.11 on Thursday. The firm’s 50-day moving average price is $9.33 and its two-hundred day moving average price is $9.93. Apollo Commercial Real Estate Finance, Inc. has a 12-month low of $8.52 and a 12-month high of $12.74. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of -9.90, a PEG ratio of 1.45 and a beta of 1.75. The company has a current ratio of 46.13, a quick ratio of 46.13 and a debt-to-equity ratio of 0.67.

Apollo Commercial Real Estate Finance Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 10.98%. The ex-dividend date was Monday, September 30th. Apollo Commercial Real Estate Finance’s payout ratio is -108.69%.

About Apollo Commercial Real Estate Finance

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.