Apollo Commercial Real Estate Finance (ARI) Tops Q4 EPS by 5c

Apollo Commercial Real Estate Finance (NYSE: ARI) reported Q4 EPS of $0.49, $0.05 better than the analyst estimate of $0.44.

Fourth Quarter 2016 Highlights

• Reported net income available to common stockholders of $49.7 million, or $0.60 per diluted share of common stock, for the three months ended December 31, 2016, as compared to net income available to common stockholders of $21.4 million, or $0.32 per diluted share of common stock, for the three months ended December 31, 2015;
• Reported Operating Earnings (a non-GAAP financial measure defined below) of $41.0 million, or $0.49 per diluted share of common stock, for the three months ended December 31, 2016, as compared to Operating Earnings of $32.4 million, or $0.48 per diluted share of common stock, for the three months ended December 31, 2015;
• Generated $53.6 million of net interest income during the quarter from the Company’s $3.1 billion commercial real estate debt portfolio, which had a levered weighted average underwritten internal rate of return (“IRR”)(1) of approximately 13.8% at December 31, 2016;
• Completed $547.5 million of commercial real estate debt investments and funded an additional $28.1 million for previously closed loans;
• Completed an underwritten public offering of 10.5 million shares of common stock, raising net proceeds of $177.8 million; and
• Declared a $0.46 dividend per share of common stock for the three months ended December 31, 2016.

For earnings history and earnings-related data on Apollo Commercial Real Estate Finance (ARI) click here.

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