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Why Shares of Apollo Commercial Real Estate Finance Popped Today

Bram Berkowitz, The Motley Fool
·2 min read
Why Shares of Apollo Commercial Real Estate Finance Popped Today

Shares of the mortgage real estate investment trust (mREIT) Apollo Commercial Real Estate Finance (NYSE: ARI) popped today after the company reported its third-quarter earnings results. Apollo reported adjusted earnings per diluted share of $0.37 on total revenue of $76.3 million, both numbers beating analyst estimates for the quarter. "Our third-quarter results demonstrate the resilience of ARI's floating-rate loan portfolio in a quickly evolving and volatile market environment," CEO Stuart Rothstein said in the earnings statement.

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