Financial Data and Key Metrics Changes - Apollo Commercial Real Estate Finance reported distributable earnings prior to realized loss of $44 million or $0.31 per share for Q3 2024, while GAAP net loss attributable to common stockholders was $95 million or negative $0.69 per diluted share, including a $128 million realized loss related to a loan secured by hospitals in Massachusetts [17][18][25] - The portfolio ended the quarter with a carrying value of $7.8 billion and a weighted average leveraged yield of 8.5% [20][25] - The company received $953 million in loan repayments during the quarter, exceeding the combined repayments of the first two quarters by over $190 million [20][35] Business Line Data and Key Metrics Changes - The company committed $597 million across two new loans and one refinancing transaction during the quarter, alongside funding an additional $93 million for previously closed loans [20] - A €200 million loan secured by office assets in Germany was downgraded to a risk rating of 4, although it remains current on interest payments [22] Market Data and Key Metrics Changes - The real estate market is showing signs of renewal, with increased transaction volume attributed to a recent Fed interest rate cut and overall economic strength [5][6] - The lending environment remains favorable, with opportunities to deploy capital into loans secured by properties at reset valuations [6] Company Strategy and Development Direction - The company is focused on proactive asset management and resolving underperforming loans to maximize recovery value [7] - The board's decision to set the Q3 dividend at $0.25 per share reflects the impact of remaining watch-list loans and anticipated declines in floating interest rate benchmarks [15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to achieve the value carried on the balance sheet for the Massachusetts properties, despite challenges in converting such properties [34] - The company anticipates continued strong repayments and a robust pipeline of new originations, with expectations for capital deployment to increase operating earnings potential [36][45] Other Important Information - The company has no corporate debt maturities until May 2026 and ended the quarter with over $300 million in total liquidity [25] - The retail component at 111 West 57th Street has been leased to Bonhams, expected to open in the second half of 2025, contributing to positive market sentiment [13][54] Q&A Session Summary Question: Update on the Massachusetts loan status - The company retains two closed hospitals and a $41 million loan against one sold hospital, with a total of $60 million in assets still on the books [26][28] Question: Details on the German office loan downgrade - The loan is a lease-up play, and while leasing is slower than anticipated, the company expects to recover full value [30] Question: Outlook on repayments and originations - Management expects repayments to remain strong, with a robust pipeline of new originations, and believes leverage will stay roughly the same [45][47] Question: Interest expense increase despite declining rates - Management will circle back to address the specific drivers of the interest expense increase [52] Question: Update on sales at 111 West 57th Street - Four units are under contract, with expected net proceeds of approximately $55 million, which will reduce the outstanding senior loan [54]

APOLLO Q3 2024 Financial Results Apollo Commercial Real Estate Finance, Inc. October 30, 2024 Unless otherwise noted, information as of September 30, 2024 It should not be assumed that investments made in the future will be profitable or will equal the performance of the investments shown in this document. 2 Forward Looking Statements and Other Disclosures This presentation may contain forward-looking statements that are within the meaning of Section 27A of the Securities Act of 1933, as amended, and Sectio ...

For the quarter ended September 2024, Apollo Commerical Finance (ARI) reported revenue of $47.04 million, down 21.9% over the same period last year. EPS came in at $0.31, compared to $0.37 in the year-ago quarter. The reported revenue represents a surprise of -0.59% over the Zacks Consensus Estimate of $47.32 million. With the consensus EPS estimate being $0.25, the EPS surprise was +24.00%. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectat ...

Apollo Commerical Finance (ARI) came out with quarterly earnings of $0.31 per share, beating the Zacks Consensus Estimate of $0.25 per share. This compares to earnings of $0.37 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 24%. A quarter ago, it was expected that this real estate investment trust would post earnings of $0.34 per share when it actually produced earnings of $0.35, delivering a surprise of 2.94%. Over the last ...

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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended September 30, 2024 OR ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to Commission File Number: 001-34452 | --- | --- | --- | --- | |----------------------------------------------------------------------------|------------- ...

NEW YORK, Oct. 30, 2024 (GLOBE NEWSWIRE) -- Apollo Commercial Real Estate Finance, Inc. (the "Company" or "ARI") (NYSE:ARI) today reported results for the quarter ended September 30, 2024. Net loss attributable to common stockholders per diluted share of common stock was ($0.69) for the quarter ended September 30, 2024. Distributable Earnings (a non-GAAP financial measure defined below) and Distributable Earnings prior to net realized loss on investments per share of common stock was ($0.59) and $0.31 for t ...

Apollo Commercial Real Estate Finance, Inc. (NYSE: ARI ) has lost over 20% of its market value since the start of the year. As discussed in the article, the mREIT experienced numerous headwinds, including a dividend cut, lower mortgage rates, and rising systematic risk withinAnalyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my ow ...

NEW YORK, Oct. 08, 2024 (GLOBE NEWSWIRE) -- Apollo Commercial Real Estate Finance, Inc. (the “Company” or “ARI”) (NYSE:ARI), today announced the Company will hold a conference call to review its third quarter 2024 financial results on Thursday, October 31, 2024 at 9:00 a.m. Eastern Time. The Company’s third quarter 2024 financial results will be released after the market closes on Wednesday, October 30, 2024. During the conference call, Company officers will review third quarter 2024 performance, discuss re ...

Take advantage of the currently offered discount on annual memberships and give CIP a try. The offer comes with a 11 month money guarantee , for first time members.Conservative Income Portfolio targets the best value stocks with the highest margins of safety. The volatility of these investments is further lowered using the best priced options. Our Enhanced Equity Income Solutions Portfolio is designed to reduce volatility while generating 7-9% yields.On our first coverage of Apollo Commercial Real Estate Fi ...