Back to top

Analyst Blog

Apollo Commercial Real Estate Finance, Inc. (ARI - Snapshot Report), a commercial mortgage real estate investment trust (REIT), recently  priced an underwritten public offering of 7 million shares to increase its liquidity. To cover over-allotments, Apollo Commercial also plans to offer an option to underwriters for purchase of an additional tranche in excess of 1 million shares. The offering is expected to close on October 9, 2012.

J.P. Morgan - part of J.P Morgan Chase & Co (JPM - Analyst Report); BofA Merrill Lynch - part of Bank of America Corporation (BAC - Analyst Report); and Citigroup - part of Citigroup, Inc (C - Analyst Report) acted as joint book-running managers for the offering.

Apollo Commercial  expects to utilize the proceeds to acquire certain assets which include commercial first mortgage loans, commercial mortgage-backed securities (CMBS), subordinate financings and other commercial real estate-related debt investments and for general corporate purposes.

Headquartered in New York, Apollo Commercial primarily acquires, invests, and manages debt instruments throughout the U.S. Over the years, the company has actively deployed capital in commercial real estate debt investments with attractive returns.

Apollo Commercial is currently focused on a diversified portfolio of performing commercial real estate mortgage loans and CMBS assets that provides stable yet attractive cash flow yields to shareholders. As of June 30, 2012 cash and cash equivalents stood at $11.9 million with approximately $105 billion of assets under management.

Apollo Commercial currently retains a Zacks #3 Rank, which translates into a short-term Hold rating. We have a long-term Neutral recommendation on the stock.

Please login to Zacks.com or register to post a comment.

New to Zacks?

Start Here

Zacks Investment Research

Close

Are you a new Zacks Member or a visitor to Zacks.com?

Top Zacks Features

My Portfolio Tracker

Is it Time to Sell?

One of the most important steps you can take today is to set up your portfolio tracker on Zacks.com. Once you do, you'll be notified of major events affecting your stocks and/or funds with daily email alerts.

More Zacks Resources

Zacks Rank Home - Evaluate your stocks and use the Zacks Rank to eliminate the losers and keep the winners.

Mutual Fund Rank Home - Evaluate your funds with the Mutual Fund Rank for both your personal and retirement funds.

Stock/Mutual Fund Screening - Find better stocks and mutual funds. The ones most likely to beat the market and provide a positive return.

My Portfolio - Track your Portfolio and find out where your stocks/mutual funds stack up with the Zacks Rank.

Zacks #1 Rank Top Movers for Zacks #1 Rank Top Movers

Company Symbol Price %Chg
CENTURY ALU… CENX 22.53 +4.50%
ERBA DIAGNO… ERB 2.91 +4.30%
PLANAR SYST… PLNR 4.31 +3.86%
MALLINCKROD… MNK 72.17 +3.83%
GTT COMMUNI… GTT 12.06 +3.52%