Apollo Commercial Real Estate surges after earnings

Apollo Commercial Real Estate Finance

25/10/2022 18:11

** Apollo Commercial Real Estate Finance  ARI.N  shares up
19.62% at $11.40
    ** Stock on track for biggest one-day pct climb since March
26, 2020
    ** Subsidiary of Apollo Global Management  APO.N  reported
distributable earnings prior to realized gains on real estate
owned and investments of 37 cents per share, vs mean estimate of
35 cents per share, per Refinitiv data
    ** EPS beat marked third straight quarter above estimate
after falling short of expectations for three quarters prior
    ** Revenue of $76.3 mln topped estimate of $70.07 mln 
    ** 5 of 6 analysts rate stock "hold", the other has "sell"
recommendation; median PT is $11 - Refinitiv
    ** Real estate sector  .SPLRCR , up 3.35%, also getting a
boost from fall in Treasury yields and hopes Fed may be near a
slowing in its rate hike trajectory 
    ** ARI shares still down 13.5% YTD vs 31.3% plunge in S&P
600 real estate sector  .SPSMCR  
 (Reporting by Chuck Mikolajczak)
 ((charles.mikolajczak@tr.com; @ChuckMik;))