Apollo Commercial Real Estate Finance posts Q2 net income of $0.11 per share, hit by realized investment losses
ARI•Outlook
- Company did not provide specific guidance for the current qtr or full yr
Overview
- US commercial real estate lender's Q2 net income per diluted share was $0.11
- Q2 Distributable Earnings per diluted share were negative
- Company recorded net realized losses on investments and debt extinguishment during the quarter
Result Drivers
- Realized losses - Co said Q2 results were impacted by net realized losses on investments and extinguishment of debt, mainly from the sale of its commercial real estate loan portfolio and a discounted loan repayment
Analyst coverage and valuation
- The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"
- The average consensus recommendation for the specialized reits peer group is "buy"
- Wall Street's median 12-month price target for Apollo Commercial Real Estate Finance Inc is $9.88, about 48.5% above its August 10 closing price of $6.65
- The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 28 three months ago
