Institute for Wealth Management LLC. Decreases Stake in Apollo Commercial Real Estate Finance, Inc. (NYSE:ARI)

Institute for Wealth Management LLC. reduced its stake in Apollo Commercial Real Estate Finance, Inc. (NYSE:ARI) by 6.0% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 22,123 shares of the real estate investment trust’s stock after selling 1,412 shares during the period. Institute for Wealth Management LLC.’s holdings in Apollo Commercial Real Estate Finance were worth $217,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of ARI. International Assets Investment Management LLC purchased a new position in shares of Apollo Commercial Real Estate Finance in the 4th quarter valued at approximately $1,840,000. Louisiana State Employees Retirement System purchased a new position in Apollo Commercial Real Estate Finance during the 4th quarter worth approximately $764,000. New York State Common Retirement Fund lifted its stake in Apollo Commercial Real Estate Finance by 15.1% during the 4th quarter. New York State Common Retirement Fund now owns 57,534 shares of the real estate investment trust’s stock valued at $675,000 after acquiring an additional 7,541 shares during the period. Van ECK Associates Corp lifted its stake in Apollo Commercial Real Estate Finance by 1.5% during the 4th quarter. Van ECK Associates Corp now owns 762,079 shares of the real estate investment trust’s stock valued at $8,947,000 after acquiring an additional 11,102 shares during the period. Finally, Natixis Advisors L.P. acquired a new stake in Apollo Commercial Real Estate Finance during the 4th quarter valued at approximately $204,000. 54.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ARI has been the subject of several research reports. BTIG Research initiated coverage on shares of Apollo Commercial Real Estate Finance in a research note on Friday, July 19th. They set a “neutral” rating for the company. Keefe, Bruyette & Woods decreased their price objective on shares of Apollo Commercial Real Estate Finance from $11.00 to $10.00 and set a “market perform” rating for the company in a research note on Wednesday, May 1st. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Apollo Commercial Real Estate Finance from $9.50 to $10.00 and gave the company a “neutral” rating in a research note on Tuesday, July 16th. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $10.25.

Apollo Commercial Real Estate Finance Stock Performance

ARI opened at $10.34 on Monday. The company has a debt-to-equity ratio of 0.61, a current ratio of 52.35 and a quick ratio of 52.35. The firm has a fifty day moving average price of $10.28 and a 200 day moving average price of $10.50. Apollo Commercial Real Estate Finance, Inc. has a 1 year low of $9.14 and a 1 year high of $12.74. The stock has a market cap of $1.47 billion, a P/E ratio of -13.26, a P/E/G ratio of 1.61 and a beta of 1.75.

Apollo Commercial Real Estate Finance Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 13.54%. The ex-dividend date of this dividend was Friday, June 28th. Apollo Commercial Real Estate Finance’s dividend payout ratio is currently -179.49%.

Insider Activity at Apollo Commercial Real Estate Finance

In related news, Director Scott Prince sold 4,935 shares of the business’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 directly owns 81,154 shares in the company, valued at approximately $821,278.48. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.68% of the company’s stock.

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.