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Apollo Commercial Declares 10.5M Common Shares Offering
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Apollo Commercial Real Estate Finance, Inc. (ARI - Free Report) has made the announcement of starting an underwritten public offering of 10.5 million of common shares. This is likely to add to the financial flexibility of the New York-based real estate investment trust (“REIT”).
Apollo Commercial is engaged in investing, acquiring and managing senior performing commercial real estate mortgage loans, commercial mortgage-backed securities (“MBS”), commercial real estate corporate debt and loans, and other real estate debt investments. The company plans to utilize the net proceeds for the repayment of outstanding amount of the repurchase agreement. Also, it intends to use the residual proceed, if any, for acquiring target assets and for general corporate purposes. It is to be noted that Apollo Commercial’s target assets include commercial first mortgage loans, subordinate financings, commercial MBSs and other commercial real estate-related debt investments.
Shares of Apollo Commercial rose 3.6% as against a gain of 13.2% posted by the Zacks categorized REIT-Mortgage Trust industry, year to date. Moreover, the company’s current-year estimates declined 2.1% to $1.89 per share, over the past 60 days.
Apollo Commercial currently carries a Zacks Rank #2 (Buy).
Seritage Growth Properties’ current-year FFO estimates have moved up 0.9% to $2.34 per share, over the past 60 days.
DCT Industrial Trust’s current-year FFO estimates have moved up 2.3%, over the past 60 days to $2.24 per share.
American Tower Corporation’s current-year FFO estimates have moved up 1.1%, over the past 60 days to $5.55 per share.
Note: FFO, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income. All EPS numbers presented in this write up represent FFO per share.
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Apollo Commercial Declares 10.5M Common Shares Offering
Apollo Commercial Real Estate Finance, Inc. (ARI - Free Report) has made the announcement of starting an underwritten public offering of 10.5 million of common shares. This is likely to add to the financial flexibility of the New York-based real estate investment trust (“REIT”).
Apollo Commercial is engaged in investing, acquiring and managing senior performing commercial real estate mortgage loans, commercial mortgage-backed securities (“MBS”), commercial real estate corporate debt and loans, and other real estate debt investments. The company plans to utilize the net proceeds for the repayment of outstanding amount of the repurchase agreement. Also, it intends to use the residual proceed, if any, for acquiring target assets and for general corporate purposes. It is to be noted that Apollo Commercial’s target assets include commercial first mortgage loans, subordinate financings, commercial MBSs and other commercial real estate-related debt investments.
Shares of Apollo Commercial rose 3.6% as against a gain of 13.2% posted by the Zacks categorized REIT-Mortgage Trust industry, year to date. Moreover, the company’s current-year estimates declined 2.1% to $1.89 per share, over the past 60 days.
Apollo Commercial currently carries a Zacks Rank #2 (Buy).
Some other favorably ranked stocks in the same space include Seritage Growth Properties (SRG - Free Report) , DCT Industrial Trust Inc. and American Tower Corporation (AMT - Free Report) . All these stocks carry a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Seritage Growth Properties’ current-year FFO estimates have moved up 0.9% to $2.34 per share, over the past 60 days.
DCT Industrial Trust’s current-year FFO estimates have moved up 2.3%, over the past 60 days to $2.24 per share.
American Tower Corporation’s current-year FFO estimates have moved up 1.1%, over the past 60 days to $5.55 per share.
Note: FFO, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income. All EPS numbers presented in this write up represent FFO per share.
Zacks’ Best Private Investment Ideas
In addition to the recommendations that are available to the public on our website, how would you like to follow all Zacks' private buys and sells in real time?
Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors. Starting today, for the next month, you can have unrestricted access. Click here for Zacks' private trades >>