Financial Performance - Operating Earnings were $036 per diluted share of common stock[7,8] - Net income available to common stockholders was $460 million, or $031 per diluted share[8] - A common stock dividend of $035 per share was declared for Q3 2020, representing a 97% payout ratio[8] Capitalization and Liquidity - The company repurchased 50 million shares of common stock for $455 million at a weighted average price of $901 per share during Q3 2020[8] - Year-to-date, the company repurchased 138 million shares for $1192 million at a weighted average price of $860 per share[8] - The company ended the quarter with $438 million in cash and $12 million of approved and undrawn credit capacity[8] Loan Portfolio - The total loan portfolio was $64 billion with a weighted average unlevered all-in yield of 62%[7,8] - 84% of the portfolio consists of first mortgage loans[7] - 95% of loans have floating interest rates, and 90% of US floating-rate loans have in-the-money LIBOR floors with a weighted average of 148%[8] Capital Structure - Secured debt obligations totaled $3478 billion, representing 50% of the book value capitalization[16] - Common equity book value was $2192 billion, or 32% of the book value capitalization[17]
Apollo Commercial Real Estate Finance(ARI) - 2020 Q3 - Earnings Call Presentation