Allspring Global Investments Holdings LLC Cuts Stake in Apollo Commercial Real Estate

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Allspring Global Investments Holdings LLC reduced its stake in Apollo Commercial Real Estate Finance, Inc. (NYSE:ARI – Free Report) by 1.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,133,689 shares of the real estate investment trust’s stock after selling 21,426 shares during the period. Allspring Global Investments Holdings LLC owned approximately 1.50% of Apollo Commercial Real Estate Finance worth $23,769,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Alps Advisors Inc. purchased a new stake in shares of Apollo Commercial Real Estate Finance during the third quarter valued at $366,000. International Assets Investment Management LLC purchased a new stake in shares of Apollo Commercial Real Estate Finance during the fourth quarter valued at $1,840,000. Kingswood Wealth Advisors LLC purchased a new stake in shares of Apollo Commercial Real Estate Finance during the fourth quarter valued at $221,000. Penserra Capital Management LLC boosted its position in shares of Apollo Commercial Real Estate Finance by 14.4% during the third quarter. Penserra Capital Management LLC now owns 46,646 shares of the real estate investment trust’s stock valued at $472,000 after buying an additional 5,883 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Apollo Commercial Real Estate Finance by 6.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,961,777 shares of the real estate investment trust’s stock valued at $23,031,000 after buying an additional 120,055 shares during the last quarter. 54.43% of the stock is owned by hedge funds and other institutional investors.

Apollo Commercial Real Estate Finance Trading Down 0.1 %

Shares of NYSE:ARI opened at $9.76 on Friday. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of -12.51, a PEG ratio of 1.49 and a beta of 1.76. The company has a debt-to-equity ratio of 0.61, a quick ratio of 52.35 and a current ratio of 52.35. The stock’s 50-day simple moving average is $10.05 and its two-hundred day simple moving average is $10.83. Apollo Commercial Real Estate Finance, Inc. has a 52-week low of $9.14 and a 52-week high of $12.74.

Apollo Commercial Real Estate Finance Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be given a $0.35 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.40 annualized dividend and a yield of 14.34%. Apollo Commercial Real Estate Finance’s payout ratio is -179.49%.
Insiders Place Their Bets

In other news, Director Mark C. Biderman sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $10.00, for a total value of $150,000.00. Following the transaction, the director now owns 60,625 shares of the company’s stock, valued at $606,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Stuart Rothstein sold 40,000 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $10.60, for a total value of $424,000.00. Following the transaction, the chief executive officer now owns 415,292 shares of the company’s stock, valued at $4,402,095.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mark C. Biderman sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $10.00, for a total value of $150,000.00. Following the completion of the transaction, the director now directly owns 60,625 shares in the company, valued at approximately $606,250. The disclosure for this sale can be found here. Insiders own 0.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on ARI shares. Keefe, Bruyette & Woods dropped their price objective on Apollo Commercial Real Estate Finance from $11.00 to $10.00 and set a “market perform” rating on the stock in a research report on Wednesday, May 1st. JPMorgan Chase & Co. dropped their price objective on Apollo Commercial Real Estate Finance from $11.00 to $10.50 and set a “neutral” rating on the stock in a research report on Wednesday, April 10th. Finally, TheStreet raised Apollo Commercial Real Estate Finance from a “d+” rating to a “c-” rating in a research report on Wednesday, March 20th. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company. According to MarketBeat, Apollo Commercial Real Estate Finance currently has an average rating of “Hold” and a consensus target price of $10.38.

Get Our Latest Report on Apollo Commercial Real Estate Finance

About Apollo Commercial Real Estate Finance

(Free Report)

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.

Allspring Global Investments Holdings LLC Cuts Stake in Apollo Commercial Real Estate

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