Apollo Commercial Real Estate Finance, Inc. (ARI - Free Report) disclosed its 2016 transaction activities. In fact, during the year, the company committed to and funded more than $1.4 billion investments. Moreover, the company sold the remaining assets of Apollo Residential Mortgage, Inc., which fetched around $33 million of additional capital. With the closing of this acquisition and the common stock offering in Dec 2016, the company infused equity capital of $2 billion in 2016.
Apollo Commercial focuses on investing in, acquiring and managing senior performing commercial real estate mortgage loans, commercial mortgage-backed securities, commercial real estate corporate debt and loans, and other real estate debt investments. The $1.4 billion of commercial real estate loan transactions in 2016 included first mortgage loan of $860.8 million, subordinate loans of $430.3 million and $140.1 million funding for previous loans.
Shares of Apollo Commercial underperformed the Zacks categorized REIT and Equity Trust-Mortgage industry, over the past one year. During the same time span, shares of the company gained 11.9%, whereas the industry grew 25.7%. Over the past 30 days, its current-year estimates declined 0.2% to $4.54 per share.
Apollo Commercial currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the same space include AG Mortgage Investment Trust, Inc. (MITT - Free Report) , AGNC Investment Corp. (AGNC - Free Report) and Annaly Capital Management, Inc. (NLY - Free Report) . All these stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
AG Mortgage Investment Trust’s 2016 estimates have moved up 9% to $1.81 per share, over the past 60 days.
AGNC Investment’s 2016 estimates have moved up 2.6%, over the past 60 days to $2.36 per share.
Annaly’s 2016 estimates have moved up 0.9%, over the past 60 days to $1.17 per share.
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