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

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

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

Apollo Commercial Real Estate Finance Stock Performance

Apollo Commercial Real Estate Finance stock opened at $8.90 on Thursday. Apollo Commercial Real Estate Finance has a 12-month low of $8.52 and a 12-month high of $12.74. The stock has a 50-day simple moving average of $9.69 and a 200 day simple moving average of $10.10. The company has a quick ratio of 54.21, a current ratio of 54.21 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of -11.41, a P/E/G ratio of 1.93 and a beta of 1.75.

Apollo Commercial Real Estate Finance Cuts Dividend

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

Insiders Place Their Bets

In related news, Director Scott Prince sold 4,935 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $10.12, for a total transaction of $49,942.20. Following the completion of the sale, the director now directly owns 81,154 shares of the company’s stock, valued at approximately $821,278.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.68% of the company’s stock.

Hedge Funds Weigh In On Apollo Commercial Real Estate Finance

A number of large investors have recently added to or reduced their stakes in the company. HighPoint Advisor Group LLC acquired a new stake in Apollo Commercial Real Estate Finance in the 4th quarter valued at approximately $132,000. Future Financial Wealth Managment LLC bought a new stake in shares of Apollo Commercial Real Estate Finance in the first quarter worth $56,000. Cascade Wealth Advisors Inc acquired a new position in Apollo Commercial Real Estate Finance during the first quarter worth $134,000. Van ECK Associates Corp grew its position in Apollo Commercial Real Estate Finance by 2.7% in the first quarter. Van ECK Associates Corp now owns 783,036 shares of the real estate investment trust’s stock valued at $8,723,000 after purchasing an additional 20,957 shares in the last quarter. Finally, Private Advisor Group LLC increased its stake in Apollo Commercial Real Estate Finance by 73.2% in the 1st quarter. Private Advisor Group LLC now owns 39,901 shares of the real estate investment trust’s stock valued at $444,000 after buying an additional 16,862 shares during the last quarter. Institutional investors own 54.43% 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 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.