NEW YORK (AP) _ Apollo Commercial Real Estate Finance (ARI) on Wednesday reported fourth-quarter net income of $53 million.
On a per-share basis, the New York-based company said it had net income of 34 cents. Earnings, adjusted for non-recurring costs and stock option expense, came to 46 cents per share.
The results met Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was also for earnings of 46 cents per share.
The real estate investment trust posted revenue of $77.8 million in the period.
For the year, the company reported profit of $220 million, or $1.48 per share. Revenue was reported as $289.3 million.
Apollo Commerical Finance shares have increased 11 percent since the beginning of the year. The stock has climbed almost 3 percent in the last 12 months.