Apollo Commercial Real Estate Finance Announces Financial Results for Q4 & FY 2024

On February 10, 2025, Apollo Commercial Real Estate Finance, Inc. filed a Form 8-K with the Securities and Exchange Commission, disclosing its financial results for the quarter and year ended December 31, 2024. The company reported a net income available to common stockholders of $37.6 million, or $0.27 per diluted share of common stock for Q4 2024. For the full year 2024, the company reported a net loss available to common stockholders of ($131.9) million, or ($0.97) per diluted share of common stock.

The company’s Distributable Earnings for 2024 were $61.3 million, or $0.43 per diluted share of common stock, before considering net realized losses on investments and gains on extinguishment of debt. This represents a decrease from the previous year’s Distributable Earnings of $157.5 million, or $1.09 per diluted share of common stock.

Apollo Commercial Real Estate Finance noted that its total loan portfolio was $7.1 billion at the end of the year, with a weighted-average unlevered all-in yield of 8.1%. The company highlighted its commitment to new loans, including $1.9 billion committed in 2024.

In terms of capital structure, the company emphasized a conservative capital management strategy with no corporate debt and around 70% weighted-average available advance rates. The Debt to Equity Ratio was reported at 3.2x, while the Fixed Charge Coverage ratio stood at 1.3x.

The company addressed its foreign exchange risk mitigation strategies, particularly regarding its non-US loan portfolio. Apollo Commercial Real Estate Finance detailed steps taken to align its secured debt arrangements in local currency, reducing exposure to fluctuations in foreign exchange rates.

Additionally, the company outlined its loan maturities and future funding profile, showcasing expected future fundings based on net equity for the coming years. Apollo Commercial Real Estate Finance provided insight into the impact of net interest income sensitivity to benchmark rates, reflecting changes in interest rates on its variable rate borrowings.

The company’s financial statements were also included in the filing, presenting detailed information on assets, liabilities, net income, and Distributable Earnings. The comprehensive list of footnotes provides further clarification on key metrics and adjustments made for reporting purposes.

Overall, Apollo Commercial Real Estate Finance’s disclosure in the 8-K filing offers a comprehensive overview of its financial performance and strategic initiatives for the period ending December 31, 2024. The company’s emphasis on prudent capital management and risk mitigation strategies underscores its commitment to sustainable growth and operational resilience in a dynamic market environment.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Apollo Commercial Real Estate Finance’s 8K filing here.

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.