Envestnet Asset Management Inc. Grows Position in Apollo Commercial Real Estate Finance, Inc. (NYSE:ARI)

Envestnet Asset Management Inc. grew its holdings in Apollo Commercial Real Estate Finance, Inc. (NYSE:ARI) by 8.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 281,902 shares of the real estate investment trust’s stock after purchasing an additional 20,801 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Apollo Commercial Real Estate Finance were worth $2,760,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Palogic Value Management L.P. raised its position in shares of Apollo Commercial Real Estate Finance by 2.8% in the 4th quarter. Palogic Value Management L.P. now owns 92,741 shares of the real estate investment trust’s stock worth $1,089,000 after acquiring an additional 2,569 shares in the last quarter. HighPoint Advisor Group LLC bought a new position in Apollo Commercial Real Estate Finance in the fourth quarter worth about $132,000. Future Financial Wealth Managment LLC bought a new position in Apollo Commercial Real Estate Finance in the first quarter worth about $56,000. Cascade Wealth Advisors Inc purchased a new stake in shares of Apollo Commercial Real Estate Finance during the first quarter valued at about $134,000. Finally, Van ECK Associates Corp boosted its holdings in shares of Apollo Commercial Real Estate Finance by 2.7% in the 1st quarter. Van ECK Associates Corp now owns 783,036 shares of the real estate investment trust’s stock valued at $8,723,000 after buying an additional 20,957 shares in the last quarter. Hedge funds and other institutional investors own 54.43% of the company’s stock.

Wall Street Analysts Forecast Growth

ARI has been the subject of several recent analyst 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. JPMorgan Chase & Co. upped their price target on Apollo Commercial Real Estate Finance from $9.50 to $10.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 16th. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $10.25.

Insiders Place Their Bets

In related news, Director Scott Prince sold 4,935 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $10.12, for a total value of $49,942.20. Following the transaction, the director now directly owns 81,154 shares of the company’s stock, valued at $821,278.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.68% of the company’s stock.

Apollo Commercial Real Estate Finance Stock Performance

ARI opened at $8.89 on Friday. The company has a market cap of $1.26 billion, a P/E ratio of -11.40, a price-to-earnings-growth ratio of 2.15 and a beta of 1.75. 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 firm’s 50-day moving average price is $10.01 and its 200-day moving average price is $10.27. Apollo Commercial Real Estate Finance, Inc. has a 52-week low of $8.76 and a 52-week high of $12.74.

Apollo Commercial Real Estate Finance Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a $0.25 dividend. The ex-dividend date is Monday, September 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 11.25%. Apollo Commercial Real Estate Finance’s dividend payout ratio is currently -128.21%.

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.