J
ane Street Group LLC increased its stake in Apollo Commercial Real Estate Finance, Inc. (ARI) by 139.4% in the third quarter, according to a recent SEC filing. The fund now owns approximately 302,388 shares of ARI's stock, valued at $2,779,000, representing about 0.22% of the company's outstanding shares.
Several other institutional investors have also made changes to their positions in ARI during the second and third quarters. Wealth Enhancement Advisory Services LLC lifted its holdings by 31.2%, while Louisiana State Employees Retirement System raised its stake by 1.7%. Bank of New York Mellon Corp increased its position by 1.9%, AM Investment Strategies LLC boosted its holdings by 42.9%, and Commonwealth Equity Services LLC added 8.5% to its stake.
Analysts have issued mixed ratings on ARI, with UBS Group lowering its target price from $10.00 to $9.50 and setting a "neutral" rating. JPMorgan Chase & Co. also lowered its price objective from $9.50 to $8.50 and maintained a "neutral" rating. StockNews.com downgraded the stock from a "hold" rating to a "sell" rating.
ARI's stock traded up 3.0% on Friday, reaching $9.04 per share. The company has a market capitalization of $1.25 billion, a P/E ratio of -9.83, and a beta of 1.75. ARI recently declared a quarterly dividend of $0.25 per share, representing an annualized dividend yield of 11.06%.
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