Apollo Commercial Real Estate Finance(US:ARI)2021-02-12 11:44Financial Performance - Distributable Earnings per share of common stock was $1.51[7] - The dividend per share of common stock was covered 1.04x[8] - Net income available to common stockholders was $33 million, or $0.23 per diluted share of common stock for Q4[10] - Distributable Earnings for Q4, prior to realized loss on investments, was $51 million, or $0.36 per diluted share of common stock[10] - Distributable Earnings for Q4, after realized loss on investments, was $21.3 million, or $0.15 per diluted share of common stock[10] Capital Allocation and Liquidity - $128 million of common stock was repurchased in 2020[9] - The company had $344 million in substantial liquidity as of December 31, 2020[8] - Liquidity included $325 million of cash and $18 million of approved and undrawn credit capacity[10] Loan Portfolio - The loan portfolio totaled $6.5 billion with a weighted average unlevered all-in yield of 6.3%[11] - 84% of the portfolio consisted of first mortgages[11] - 89% of U S floating-rate loans have in-the-money LIBOR floors with a weighted average of 1.46%[11] - $133 million of loans and participating interests were sold at 98.1% of par in Q4[11] - $562 million was committed to three new mortgage loans in 2020[11] Dividend and Book Value - A dividend of $0.35 per share of common stock was declared[11] - Adjusted book value per share of common stock was $15.38[11]