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Apollo Commercial Real Estate Finance, Inc. Message Board

  • wall_street_titan wall_street_titan Mar 18, 2010 12:18 PM Flag

    $.35 initial Qtrly Dividend = 7.77% Yield

    Apollo Commercial Real Estate Finance declared its first quarterly dividend today at $.35. I would expect that this amount will be higher in subsequent quarters as this payment is from a quarter where the portfolio was not yet fully invested. Nonetheless, the dividend yield equates to $1.40 per year or a 7.77% yield at $18 per share. I'd guess that the final annual run rate could be around $1.80 or 10% based upon today's $18 price. Just a guess. Nice yield for a well collateralized portfolio given the lack of alternatives.

    Wall Street Titan

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    • I would not expect much higher yield. Citi on STWD indicates that the environment is so competitive for all high yield debt instruments the yields are being driven down.

      STWD started out with plans for a 10% yield at time of IPO and now they are fighting for an 8% yield (presently less than 8%).

      I think ARI and STWD came public too late but that was not their fault.... the environment for IPOs sucked but by the time they came public the window closed on them.

      SLRC is a BDC that decided to grow itself during the credit crisis and just went public in FEB. Do your own DD but I think this is the place to get attractive yields with a mgmt team that consists of the former CEO/founder of AINV.

 
ARI
16.56-0.03(-0.18%)Jul 9 4:02 PMEDT

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