Bank of America began research coverage of Apollo Commercial Real Estate Finance (NYSE:ARI).
According to The Fly, Bank of America sent a note to investors on Monday saying it has begun providing coverage for shares of Apollo Commercial Real Estate Finance (NYSE:ARI). In addition, the company assigned a "neutral" rating to the real estate investment trust (REIT) stock.
A variety of additional investigations were carried out on the subject of ARI. Credit Suisse Group lowered their price objective on Apollo Commercial Real Estate Finance to $11.00 in a research note on Thursday, October 13th. JPMorgan Chase & Co dropped their price objective on Apollo Real Estate Commercial Finance from $11.00 to $9.50 and gave the stock an “underweight” rating in a research note on Monday, October 24th. Part of the website's ongoing coverage of the company. They decided to maintain their "hold" rating for the company.
Shares of NYSE:ARI opened at $11.86 on Monday. The company's market cap is currently $1.67 billion, its PE ratio is 6.31, and its beta is 1.54. Apollo Commercial Real Estate Finance's price has reached a low of $7.91 over the past 52 weeks, while reaching a high of $14.55 over the same period. The company's moving average over the past 50 days is $10.39, and the moving average over the past 200 days is $11.25. The debt to equity ratio is 0.62, and the quick ratio and current ratio are both 22.02 at the same time.
In other news, the company's CEO, Stuart Rothstein, purchased 15,000 shares of the company's stock on November 7th. The stock was purchased at a total cost of $167,700.00, which comes to an average price of $11.18 per share. As a result of the transaction, the CEO now owns 452,676 shares of the company, with a value of approximately $5,060,917.68. The transaction was announced to the public through a filing with the Securities and Exchange Commission (SEC), which may be located on the SEC's website. Company insiders own a total of 0.73% of the business's shares.
In recent months, the number of important owners who decreased or increased their holdings in the company were recorded. Renaissance Technologies LLC's stake in Apollo Commercial Real Estate Finance grew by 983.3% in the first quarter. After purchasing an additional 549,100 shares over the time frame, Renaissance Technologies LLC now owns 604,940 shares of the real estate investment trust’s stock. The current market value of these shares is $8,427,000. Also, the ownership percentage held by Invesco Ltd. in Apollo Commercial Real Estate Finance increased by 24.6% during the first quarter. Invesco Ltd. now owns 2,715,545 shares of the real estate investment fund's stock, valued at $37,827,000 after the company purchased 536,101 shares during the period in question. During the first three months of the year, First Trust Advisors LP added 214.9% more shares to its holdings of Apollo Commercial Real Estate Finance. First Trust Advisors LP now owns a total of 774,727 shares of the real estate investment trust’s stock valued at $10,792,000 after buying an additional 528,692 shares during the last quarter. Vanguard Group Inc. grew its holdings in Apollo Commercial Real Estate Finance by 3.0% during the fiscal first quarter. Vanguard Group Inc. now owns 15,046,199 shares of the REIT’s stock valued at $209,594,000 after the company purchased 435,919 shares during the period.
Last but not least, during the first three months of the year, Goldman Sachs Group increased its ownership percentage in Apollo Commercial Real Estate Finance by 78.9%. After purchasing an additional 406,841 shares during the last quarter, Goldman Sachs Group Inc. There are now 922,408 shares of the real estate investment trust's stock, worth $12,849,000. Now, hedge funds and other institutional investors own 55.57% of the company's shares.
A real estate investment trust (REIT) located in the United States, Apollo Commercial Real Estate Finance, Inc. Produces, purchases, invests and manages commercial loans for first mortgages, subordinated financing and other debt investments related to commercial real estate. The Internal Revenue Code identifies it as a real estate investment trust (REIT).
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