Apollo Commercial Real Estate Finance (ARI) Tops Q1 EPS by 3c

Apollo Commercial Real Estate Finance (NYSE: ARI) reported Q1 EPS of $0.50, $0.03 better than the analyst estimate of $0.47.

• Reported net income available to common stockholders of $60.9 million, or $0.43 per diluted share of common stock, for the three months ended March 31, 2019;
• Reported Operating Earnings (a non-GAAP financial measure defined below) of $68.4 million, or $0.50 per diluted share of common stock, for the three months ended March 31, 2019;
• Generated $82.8 million of net interest income during the quarter from the Company’s $5.2 billion commercial real estate loan portfolio;
• Committed $448.7 million to new commercial real estate loans ($441.8 million of which was funded at closing) and funded an additional $110.3 million for loans closed prior to the quarter;
• Subsequent to quarter end, committed $75.6 million (£58.0 million) to a new commercial real estate loan;
• Amended the master repurchase agreement with Goldman Sachs (the "Goldman Facility") to increase borrowing capacity to $500 million from $300 million, bringing ARI's total borrowing capacity to $3.2 billion as of March 31, 2019;
• Issued 1,967,361 shares of common stock in connection with the conversion of the 5.50% Convertible Senior Notes due 2019 (the "2019 Notes"); and
• Declared a $0.46 dividend per share of common stock for the three months ended March 31, 2019.

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

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