Financial Performance - Net income available to common stockholders was $23 million, or $0.16 per diluted share[10] - Distributable Earnings were $33 million, or $0.24 per diluted share[12] - The company declared common stock dividends of $0.25 per share, implying a dividend yield of 11.0%[12] - Book Value per Share decreased from $12.34 in Q4 2024 to $12.18 in Q1 2025[15] Loan Portfolio - The total loan portfolio amounted to $7.7 billion with a weighted-average unlevered all-in yield of 7.9%[11] - First mortgages represent 95% of the loan portfolio, with 95% being floating rate loans[11] - New loan commitments totaled $650 million, with $460 million funded at close[11] - Loan repayments and sales reached $93 million, with gross add-on fundings of $73 million[11] Capitalization and Liquidity - Total common equity book value ended the quarter at $1.8 billion[11] - Total liquidity at the end of the quarter was $218 million, including $170 million in cash[11] - The company upsized its secured credit facility with JPMorgan by $500 million, increasing total capacity to $2 billion and extended the final maturity by 3.5 years to March 2030[11] Real Estate Owned (REO) - Total REO held for investment was valued at $791 million, with net equity of $444 million after deducting $346 million in debt[22]
Apollo Commercial Real Estate Finance(ARI) - 2025 Q1 - Earnings Call Presentation