Apollo Commercial Real Estate Finance, Inc. (NYSE:ARI) director Pamela G Carlton recently sold company shares, according to the latest SEC filings. The transaction, dated September 6, 2024, involved Carlton selling 833 shares of common stock at a price of $10.32 per share, totaling $8,596.
The sale reduced Carlton's holdings in the real estate investment trust to 29,525 shares following the transaction. The nature of the ownership is listed as direct, indicating that the shares were owned outright by Carlton rather than through a trust or other indirect means.
Apollo Commercial Real Estate Finance, Inc. is known for its focus on originating, acquiring, investing in, and managing performing commercial first mortgage loans, subordinate financings, commercial mortgage-backed securities, and other commercial real estate-related debt investments. This sale comes amid the company's ongoing activities in the real estate financing sector.
Investors often monitor insider transactions as they provide insights into how executives and directors view the company's stock value and future performance. The reported transaction was signed by Jessica L. Lomm, as Attorney-in-Fact, on September 10, 2024.
While the reasons behind Carlton's stock sale are not disclosed in the filing, such transactions are routine and required to be reported to the SEC. Shareholders and potential investors can access these filings to stay informed about the financial dealings of the company's insiders.
In other recent news, Apollo Commercial Real Estate Finance (ARI) anticipates a substantial reserve of approximately $90 million. This decision follows the Chapter 11 bankruptcy filing by Steward Health Care, a key tenant who secured a loan with eight hospitals in Massachusetts. Despite this, the company reported strong performance in the second quarter, with distributable earnings of $0.35 per share and a GAAP net income of $33 million. The company's portfolio includes 50 loans totaling $8.3 billion, and ARI has successfully completed several sales at the 111 West 57 Street property. ARI also entered the multifamily space, financing two new projects in California and D.C. CEO Stuart Rothstein expressed optimism about the potential for new equity in commercial real estate in 2025. These are some of the recent developments for the company.
InvestingPro Insights
Apollo Commercial Real Estate Finance, Inc. (NYSE:ARI) has been navigating a challenging market, as reflected in the recent insider stock sale by director Pamela G Carlton. To provide a broader context for investors, here are some key metrics and insights from InvestingPro:
InvestingPro Data:
- Market Cap: $1.42 billion
- P/E Ratio: 193.21, which suggests the stock is trading at a high earnings multiple
- Dividend Yield: 13.73%, indicating a significant return to shareholders through dividends
InvestingPro Tips:
- Despite analysts anticipating a sales decline in the current year, they predict the company will be profitable this year. This dichotomy could signal a complex operating environment where cost management will be crucial.
- Apollo Commercial Real Estate Finance has maintained dividend payments for 15 consecutive years, showcasing a commitment to returning value to shareholders even amidst market fluctuations.
For investors considering Apollo Commercial Real Estate Finance, it's worth noting that the company's stock price movements have been quite volatile. Keeping an eye on such metrics could help in making informed decisions. For more InvestingPro Tips, there are 9 additional insights available on https://www.investing.com/pro/ARI, providing a deeper dive into the company's financial health and market position.
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