Apollo Commercial Real Estate (ARI) said after close Monday that it earned $0.46 per share in quarter two 2023. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.
On the revenue line, the company reported $63 million, missing estimates by $8.2 million.
In the same quarter a year ago, the company earned $0.35 per share on revenue of $57.4 million.
The stock is down 14.07% to $10.14 after the report.
The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.
The average recommendation from Wall Street analysts was a Hold which may get revised based on this new data.
Trading in the five days leading up to the report earned Apollo Commercial Real Estate a Bullish Sentiment Rank from InvestorsObserver.
Prior to the report, InvestorsObserver gave the stock an overall score of 52. Meanwhile, the average Wall Street analyst rated the stock a Hold.
Apollo Commercial Real Estate Finance Inc is a real estate investment trust that primarily originates, invests in, acquires, and manages commercial first-mortgage loans, subordinate financings, commercial mortgage-backed securities, and other real estate-related debt investments. The subordinate loans and first-mortgage loans account for the vast majority of the portfolio on a cost basis. Property types include residential, retail, healthcare, office, mixed-use, hotel, industrial, multifamily, securities, and other, with residential properties and hotels representing the highest property value. More than a third of the properties are located in New York City, with the other properties located across other regions of the United States, as well as other countries.
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Apollo Commercial Real Estate Down 14.07% To $10.14 After Earnings Beat
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