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Apollo Commercial Real Estate Finance, Inc. Message Board

  • iownsome iownsome Jul 24, 2002 1:56 PM Flag

    What's up with ARI to cause price drop?

    <EOM>

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    • it held like a rock at 24.05
      there were constant buy orders of 25 - 50 thousand shares at 24.05
      with the earnings release, they announced a $75million (3.2million sh at current) buyback program

      either the 24.05 is a price the company is comfortable with for its buyback

      --- or -----

      some large investor was looking to create a decent position on the day after the earnings announce - when stocks that missed expectations tend to slip

      while it is uncertain that there is no longer any downside risk here, it seems contained. At 24, the stock is selling quality office buildings in a market with impossibly high barriers to new cosntruction, at 75 cents on the dollar (with quality, knowledgeable local management thrown in)

      there are cheaper office reits - higher yield or lower times FFO prices, but there are very few which are as poised to benefit from a recovery in the corporate market of LA which is still the secon-largest economy in the US

 
ARI
16.53-0.13(-0.78%)Jan 30 4:05 PMEST

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