Apollo Commercial Real Estate Finance, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
October 30, 2023 at 04:16 pm EDT
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Apollo Commercial Real Estate Finance, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported net income was USD 46.07 million compared to USD 183.03 million a year ago. Basic earnings per share from continuing operations was USD 0.3 compared to USD 1.27 a year ago. Diluted earnings per share from continuing operations was USD 0.3 compared to USD 1.13 a year ago.
For the nine months, net income was USD 11.59 million compared to USD 269.22 million a year ago.
Apollo Commercial Real Estate Finance, Inc. is a real estate investment trust. The Company primarily originates, acquires, invests in and manages performing commercial first mortgage loans, subordinate financings and other commercial real estate-related debt investments. The Companyâs principal business objective is to acquire its target assets in order to provide attractive risk-adjusted returns to its stockholders over the long term, primarily through dividends and secondarily through capital appreciation. Its investment strategy is to identify opportunities within its target assets through its manager and its affiliates as well as their platform, which integrates real estate experience with private equity and capital markets in transaction sourcing, underwriting, execution, asset operation, management and disposition. Its target assets are secured by real estate throughout the United States and Europe. The Company is externally managed and advised by ACREFI Management, LLC.