StockNews.com Experts Cover Apollo Commercial Real Estate Finance (NYSE: ARI) 2023
In a research note released on Thursday, analysts at StockNews.com commenced coverage on shares of Apollo Commercial Real Estate Finance (NYSE: ARI – Get Rating). The brokerage assigned the stock of the real estate investment trust a “hold” recommendation.
Numerous other equity analysts have chimed in on the stock. Tuesday, November 22nd, Bank of America (Bofa) initiated coverage on shares of Apollo Commercial Real Estate Finance in a research note. They assigned the company a “neutral” rating and a $12.00 price objective. In a research note dated November 21st, Bank of America reaffirmed its “neutral” rating and assigned a $12.00 price target on shares of Apollo Commercial Real Estate Finance.
8.1% Decline in Apollo Commercial Real Estate Finance Stock Price
ARI shares started on Thursday at $9.32 per share. The firm has a $1.32 billion market capitalization, a PE ratio of 5.86, and a beta of 1.61. The company’s debt-to-equity ratio is 0.63, while its quick ratio and current ratio are both 36.70. The stock’s 50-day moving average is $11.54 and its 200-day moving average is $11.13. The 52-week low for Apollo Commercial Real Estate Financing is $7.91 and the 52-week high is $14.55.
The Perspectives of Institutional Investors About Apollo Commercial Real Estate Financing
Recently, hedge funds and other institutional investors have increased or decreased their holdings in the stock. In the fourth quarter, Financial Advocates Investment Management increased its holdings of Apollo Commercial Real Estate Finance by 66.7%. After acquiring an additional 120,051 shares during the quarter, Financial Advocates Investment Management now holds a total of 299,972 shares of the REIT’s stock worth $3,228,000. During the fourth quarter, Point72 Middle East FZE acquired a new interest in Apollo Commercial Real Estate Financing for about $106,000. CI Private Wealth LLC acquired an approximately $130,000 investment in Apollo Commercial Real Estate Financing during the fourth quarter. In the fourth quarter, Metropolitan Life Insurance Company of New York increased its shares in Apollo Commercial Real Estate Finance by 11.7%. After acquiring an additional 907 shares during the preceding quarter, Metropolitan Life Insurance Company of New York now holds 8,666 shares of the REIT’s stock, which are valued at $93,000. During the fourth quarter, the State of Tennessee Treasury Department increased its holdings of Apollo Commercial Real Estate Finance by 2.1%. State of Tennessee Treasury Department now owns 93,382 shares of the real estate investment trust’s stock, valued at $1,005,000, after acquiring an additional 1,955 shares in the last recent quarter. Institutional investors and hedge funds hold 54.57% of the company’s shares.