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ovare Capital Management LLC reduced its stake in Apollo Commercial Real Estate Finance, Inc. (NYSE:ARI) by 38.6% during the fourth quarter, according to a recent Form 13F filing with the Securities and Exchange Commission. The firm owned 49,800 shares of the real estate investment trust's stock after selling 31,250 shares during the quarter. Novare Capital Management LLC's holdings in Apollo Commercial Real Estate Finance were worth $431,000 as of its most recent filing.

    Several other hedge funds have also recently adjusted their stakes in the stock. Hotchkis & Wiley Capital Management LLC increased its stake by 1.1% in the third quarter and now owns 578,210 shares valued at $5,314,000. Advisors Asset Management Inc. lifted its stake by 72.0% in the third quarter and now owns 468,335 shares valued at $4,304,000.

    Institutional investors and hedge funds own 54.43% of the company's stock. Apollo Commercial Real Estate Finance Stock Up 0.7%. Shares of NYSE:ARI traded up $0.07 during mid-day trading on Friday, reaching $8.95. The company has a market cap of $1.24 billion, a P/E ratio of -9.72 and a beta of 1.74.

    Apollo Commercial Real Estate Finance recently disclosed a quarterly dividend, which was paid on January 15th to investors of record on December 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 11.18%. Analysts have set new price targets for the stock, with Keefe, Bruyette & Woods dropping its target from $9.00 to $8.75 and setting a "market perform" rating.

    StockNews.com raised Apollo Commercial Real Estate Finance from a "sell" rating to a "hold" rating in a research report on January 21st. UBS Group dropped its price target from $10.00 to $9.50 and set a "neutral" rating on the stock in a research report on November 15th. JPMorgan Chase & Co. dropped its price target from $9.50 to $8.50 and set a "neutral" rating on the stock in a research report on October 17th.

    One equities research analyst has rated the stock with a sell rating, while five have assigned a hold rating. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $9.31.