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Last $16.57 USD
Change Today -0.12 / -0.72%
Volume 318.6K
As of 8:04 PM 07/2/15 All times are local (Market data is delayed by at least 15 minutes).

apollo commercial real estat (ARI) Key Developments

Apollo Commercial Real Estate Finance, Inc. Closes $325 Million Mezzanine Loan for New York City Condominium Tower

Apollo Commercial Real Estate Finance, Inc. announced the Company closed a $325 million mezzanine loan for the construction of a condominium development in Midtown Manhattan. At closing, ARI funded $41 million and a fund managed by an affiliate of Apollo Global Management, LLC acquired a $50 million participation in the mezzanine loan, which also was funded at closing. Over the next several months, ARI will seek to syndicate additional participations in the loan. The mezzanine loan is for the construction of a development that will consist of approximately 253,000 square feet of residential condominium space and 52,500 square feet of retail space in Midtown Manhattan. The floating-rate loan has a four year initial term with one 12-month extension option and is part of a $725 million financing consisting of a $400 million first mortgage loan and the $325 million mezzanine loan. The mezzanine loan has an appraised loan-to-net-sellout of 42% and has been underwritten to generate an internal rate of return of approximately 16%.

Apollo Commercial Real Estate Finance, Inc. Announces Quarterly Cash Dividend on Preferred Stock for the Period Ending on July 15, 2015, Payable on July 15, 2015

Apollo Commercial Real Estate Finance, Inc. announced the board of directors has declared a cash dividend on the company’s 8.625% series A cumulative redeemable perpetual preferred stock of $0.5391 per share for the quarterly period ending on July 15, 2015. The preferred dividend is payable on July 15, 2015 to preferred stockholders of record as of June 30, 2015.

Apollo Commercial Real Estate Finance, Inc. Completes $127.9 Million of Commercial Real Estate Debt Transactions

Apollo Commercial Real Estate Finance, Inc. announced the Company closed one first mortgage and two subordinate loan transactions totaling $127.9 million and funded $21.5 million for previously closed loans, resulting in $148.3 million of capital deployed. With the closing of these transactions, ARI has committed to invest over $243.3 million of equity into $321.1 million of investments year-to-date and has deployed an additional $69.4 million to fund previously closed transactions.

Apollo Commercial Real Estate Finance, Inc. Presents at Keefe, Bruyette, & Woods Mortgage Finance Conference, Jun-02-2015 09:10 AM

Apollo Commercial Real Estate Finance, Inc. Presents at Keefe, Bruyette, & Woods Mortgage Finance Conference, Jun-02-2015 09:10 AM. Venue: Millennium Broadway Hotel, 145 West 44th Street, New York, New York, United States. Speakers: Stuart A. Rothstein, Chief Executive Officer, President and Director.

Apollo Commercial Real Estate Finance, Inc. Declares Quarterly Dividend, Payable on July 15, 2015; Reports Unaudited Consolidated Financial Results for the First Quarter Ended March 31, 2015

Apollo Commercial Real Estate Finance, Inc.'s board of directors declared quarterly dividend of $0.44 per share of common stock, which is payable on July 15, 2015 to common stockholders of record on June 30, 2015. The company reported unaudited consolidated financial results for the first quarter ended March 31, 2015. For the quarter, the company reported net interest income of $28,554,000 compared to $19,403,000 a year ago. Net income available to common stockholders was $23,653,000 or $0.47 per basic and diluted share compared to $15,720,000 or $0.42 per basic and diluted share last year Operating earnings was $22.2 million or $0.44 per diluted share compared $14.0 million, or $0.3 per diluted share last year. The company's book value per share at March 31, 2015 was $16.44 against $16.21, last year. Net income was $25,513,000 compared to $17,580,000 last year.

 

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Industry Analysis

ARI

Industry Average

Valuation ARI Industry Range
Price/Earnings 9.4x
Price/Sales 7.8x
Price/Book 0.9x
Price/Cash Flow 10.7x
TEV/Sales NM Not Meaningful
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