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Apollo Commercial Real Estate Finance, Inc. (ARI) stock

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NYSE: ARI NYSE Mortgage REITs Next results ~November 3, 2026

C+ Fundamentals grade

Apollo Commercial Real Estate Finance, Inc. is a US-listed company in the mortgage REITs industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$5.2

Valuation models combined (3)

Base case. Range ~$3.8–$6.1. Weighted average of 3 models (residual income, justified price-to-book, price-to-book vs peers), the residual income counting double.

Price vs value

Undervalued

The price is below our entire value range; our base value is 125% above it.

Price used: $2.31, November 2, 2026

Apollo Commercial Real Estate Finance, Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 3 selling0 purchases and 4 sales by directors and officers, last 12 monthsInsider trades
  • Funds141 adding, 129 cuttingOf 33 active managers that changed their stake, 22 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Apollo Commercial Real Estate Finance files

Where Apollo Commercial Real Estate Finance stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $238m, down 14.7% on a year earlier, a steeper fall than the 8.5% decline a quarter earlier. That puts it 12 of 14 for growth among the mortgage reits companies we cover. Our cash-flow model value is $5.59 a share, against a share price of $2.33.

Source: 10-Q filed August 10, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 3, 2026 (estimated)

Apollo Commercial Real Estate Finance, Inc.'s trailing-twelve-month revenue fell 14.7% year on year, with a free-cash-flow margin of 30.1%. Where it stands out: net margin of 55.5% ranks 2 of 14 mortgage reits companies we cover. Where it lags: revenue growth of -14.7% ranks 12 of 14 mortgage reits companies we cover.

Current signal Results well short of expectations: Reported earnings per share missed the analysts' consensus estimate by 353% in the quarter to 2026-06-30.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Priced below our value. The share price of $2.31 is 125% below our value per share of $5.
  • Strong cash generation. 30.1% of revenue turned into free cash flow.
  • Shrinking share count. Diluted shares fell 1.1% in a year, so each share owns more of the business.
  • Net cash. Cash exceeds long-term debt by $1.2bn.

Things to watch

  • Revenue shrinking. Revenue fell 14.7% over the last 12 months.
  • Growth slowing. The growth rate is 6.2 points lower than a quarter earlier.
  • Weak cash conversion. Free cash flow was 54% of net income over the last 12 months.
  • Short interest rising. Shares sold short rose 49% in a month to 5.5% of tradable shares.
  • Missing expectations. Earnings per share fell short of the consensus estimate in 3 of the last four quarters.
  • Estimates being cut. Analysts' consensus for next year's earnings per share has fallen 59.7% over 90 days.

Latest results: FY2026 Q2

Filed August 10, 2026
Earnings per share
-$2.62 against an average estimate of -$0.58: missed by 353.4%
Revenue
$44m, down 37.4% on a year earlier
Share reaction
+3.8% in the first session after the results on August 11, 2026, against -0.1% for the S&P 500
Next report
November 3, 2026; average EPS estimate $0.05

Apollo Commercial Real Estate Finance's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-0.9%
  • 1 week-3.9%
  • 1 month+2.3%
  • This year+4.1%
  • 1 year+5.6%
  • 5 years+9.9%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$238M
Net margin
55.5%
EPS (TTM, diluted)
$0.96

Growth

Revenue growth
−14.7%
Change in growth rate
−6.2 pts
Share count change
−1.1%

Earnings

Last results
August 11, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Announcement
  2. Agreement
  3. Announcement
  4. Results
  5. Shareholder vote

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Apollo Commercial Real Estate Finance, Inc. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03
Buy12-month view
12-month price target
~$5.2
Price used
$2.32close November 3, 2026
Implied change
▲ +124%
Uncertainty
Low

How we got here: the combined value of 3 valuation models built for a business like Apollo Commercial Real Estate Finance, Inc. (see the models table below and how they are combined) , with a 8.49% cost of equity. The models span ~$3.8–~$6.1; that spread sets a 15% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Valuation models

We value Apollo Commercial Real Estate Finance, Inc. as a mortgage reit, with every model that fits that kind of business. Cost of equity 8.5%: the 10-year Treasury yield (4.9%) plus a beta of 0.79 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$6.1 ~$4.3–$8.5 Primary model, counts double
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$4.8 ~$4.3–$5.4 Included
Price-to-book vs peers Book value per share times peers' typical (harmonic-mean) price-to-book. ~$3.8 ~$4.0–$6.6 Included
Dividend discount (growing dividend) Today's dividend growing 2.5% a year, discounted at the cost of equity. ~$19 ~$16–$23 Left out: out of range vs price (8.14x)
Combined value Weighted average of the models that apply: the primary model (residual income) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$5.2 ~$3.8–$6.1 3 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Apollo Commercial Real Estate Finance, Inc. with mortgage REITs in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Moat

76 /100

Strong moat

How hard Apollo Commercial Real Estate Finance's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 20 / 20

    Net income has been a median 2.3% of total assets over 10 years.

  • Durability 10 / 20

    Net margin has been a median 48.8%; its worst year was -1.5%.

  • Discipline 16 / 20

    The diluted share count fell 12.7% over five years; stock-based pay has been a median 5.4% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 3, 2026, after the close. Analysts expect revenue of $0 and EPS of $0.05 (range $0.05 to $0.06) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current −$2.76 −363% $42m −75%
Next $0.23 +108% — −100%

Next year's EPS estimate has moved −59.7% in 90 days, across 3 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +515.5% on 90 days ago. In the last 30 days, 0 analysts raised Apollo Commercial Real Estate Finance, Inc.'s forecast and 0 cut it.

Consensus EPS forecast Apollo Commercial Real Estate Finance, Inc., last 90 days
−$3.00 −$2.00 −$1.00 $0.00 $1.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: −$0.45 Current fiscal year, 60 days ago: −$0.74 Current fiscal year, 30 days ago: −$0.74 Current fiscal year, 7 days ago: −$0.74 Current fiscal year, Now: −$2.76 −$2.76 Next fiscal year, 90 days ago: $0.56 Next fiscal year, 60 days ago: $0.23 Next fiscal year, 30 days ago: $0.23 Next fiscal year, 7 days ago: $0.23 Next fiscal year, Now: $0.23 $0.23

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago −$0.45$0.56
60 days ago −$0.74$0.23
30 days ago −$0.74$0.23
7 days ago −$0.74$0.23
Now −$2.76$0.23

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 −$0.58 −$2.62 −353.4%
Mar 2026 $0.29 $0.22 −24.1%
Dec 2025 $0.24 $0.32 +32.5%
Sept 2025 $0.25 $0.23 −7.6%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 11, 2026

No numeric guidance in Apollo Commercial Real Estate Finance, Inc.'s latest earnings release (filed August 11, 2026). Some companies give their outlook only on the earnings call.

Analyst recommendations

4 analysts, Oct 2026
Buy375%
Hold125%
Sell00%

Monthly trend

  1. Oct 20262114
  2. Sep 20262114
  3. Aug 20262114
  4. Jul 20262114

Counts of recommendations published by analysts covering Apollo Commercial Real Estate Finance, Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
5.5%
of tradable shares
Days to cover
2.18
at average volume
Short interest, 1 month
+49%
to October 15, 2026
Held by institutions
80%
of shares
Held by insiders
0.6%
of shares

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +5.6%

$2.19 on October 31, 2025 to $2.31

ThenNowEffect
Revenue (last 12 months) $279m $238m −14.7%
P/S multiple 1.1x 1.3x +22.5%
Share count 139m 137m +1.1%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

Last 3 years +21.2%

$1.91 on November 3, 2023 to $2.31

ThenNowEffect
Revenue (last 12 months) $343m $238m −30.6%
Net margin 42.2% 55.5% +31.5%
P/E multiple 2.1x 2.4x +12.5%
Share count 162m 137m +17.9%

Biggest factor: revenue.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
ARI+30%−7%+25%−17%+24%+4%
Industry peers (median)+26%−22%+17%+4%+6%−21%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
ARI67%50%50%50%50%55%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
ARI−21%−37%−30%−21%−19%−14%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 77% from September 25, 2019 to March 24, 2020. Getting back needed a 342% gain, reached on June 1, 2021, 434 days after the low.

Price behaviour

52-week range
$2.16 – $2.63
From 52-week high
−12.3%
vs 50-day average
−2.3%
vs 200-day average
−5.8%
Volatility (1 year)
20%
Beta vs S&P 500
0.45

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
5 up, 7 down
typical move ±3.9%
After a week
6 up, 6 down
typical move ±3.8%
After a month
8 up, 4 down
typical move ±4.8%
Results releasedNext dayS&P 500 next day5 days21 days
August 11, 2026 +3.8% −0.1% +2.6% +0.4%
April 29, 2026 −1.1% +1.0% −1.0% −0.9%
February 11, 2026 −1.4% −1.6% −1.6% −4.1%
October 31, 2025 −2.8% +0.5% −1.6% +1.2%
July 30, 2025 −1.8% −0.5% +0.5% +6.6%
April 25, 2025 +3.3% +0.8% +4.4% +7.8%
February 11, 2025 +9.1% −0.2% +10.5% +7.3%
October 31, 2024 −1.6% −1.5% +3.0% +4.3%
August 7, 2024 +0.7% +1.6% 0.0% +2.0%
April 29, 2024 −10.8% −1.2% −6.9% −9.5%
February 7, 2024 −3.6% +0.9% −2.7% −0.1%
October 31, 2023 +7.4% +1.7% +10.4% +13.7%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Apollo Commercial Real Estate Finance, Inc.’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Cash-secured put

Not offered: fundamentals grade C+ (needs B+ or better).

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: the shares trade below our fair value: a collar caps upside the model expects.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Apollo Commercial Real Estate Finance, Inc. in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Apollo Commercial Real Estate Finance, Inc.
$200M $250M $300M $350M FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $347.6M Revenue (TTM), FY23 Q4: $344.6M Revenue (TTM), FY24 Q1: $338M Revenue (TTM), FY24 Q2: $327M Revenue (TTM), FY24 Q3: $317.4M Revenue (TTM), FY24 Q4: $303.7M Revenue (TTM), FY25 Q1: $289M Revenue (TTM), FY25 Q2: $278.7M Revenue (TTM), FY25 Q3: $268.8M Revenue (TTM), FY25 Q4: $271.6M Revenue (TTM), FY26 Q1: $264.4M Revenue (TTM), FY26 Q2: $237.9M $237.9M

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $347.6M
FY23 Q4 $344.6M
FY24 Q1 $338M
FY24 Q2 $327M
FY24 Q3 $317.4M
FY24 Q4 $303.7M
FY25 Q1 $289M
FY25 Q2 $278.7M
FY25 Q3 $268.8M
FY25 Q4 $271.6M
FY26 Q1 $264.4M
FY26 Q2 $237.9M
Revenue growth, TTM YoY Apollo Commercial Real Estate Finance, Inc.
-20% -10% 0% 10% 20% 30% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: 21.0% Revenue growth, TTM YoY, FY23 Q4: 13.5% Revenue growth, TTM YoY, FY24 Q1: 3.5% Revenue growth, TTM YoY, FY24 Q2: -4.6% Revenue growth, TTM YoY, FY24 Q3: -8.7% Revenue growth, TTM YoY, FY24 Q4: -11.9% Revenue growth, TTM YoY, FY25 Q1: -14.5% Revenue growth, TTM YoY, FY25 Q2: -14.7% Revenue growth, TTM YoY, FY25 Q3: -15.3% Revenue growth, TTM YoY, FY25 Q4: -10.6% Revenue growth, TTM YoY, FY26 Q1: -8.5% Revenue growth, TTM YoY, FY26 Q2: -14.7% -14.7%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 21.0%
FY23 Q4 13.5%
FY24 Q1 3.5%
FY24 Q2 -4.6%
FY24 Q3 -8.7%
FY24 Q4 -11.9%
FY25 Q1 -14.5%
FY25 Q2 -14.7%
FY25 Q3 -15.3%
FY25 Q4 -10.6%
FY26 Q1 -8.5%
FY26 Q2 -14.7%
FCF margin (TTM) Apollo Commercial Real Estate Finance, Inc.
20% 40% 60% 80% 100% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: 80.1% FCF margin (TTM), FY23 Q4: 77.1% FCF margin (TTM), FY24 Q1: 61.4% FCF margin (TTM), FY24 Q2: 63.7% FCF margin (TTM), FY24 Q3: 53.8% FCF margin (TTM), FY24 Q4: 62.1% FCF margin (TTM), FY25 Q1: 61.3% FCF margin (TTM), FY25 Q2: 68.2% FCF margin (TTM), FY25 Q3: 64.8% FCF margin (TTM), FY25 Q4: 48.4% FCF margin (TTM), FY26 Q1: 39.0% FCF margin (TTM), FY26 Q2: 30.1% 30.1%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 80.1%
FY23 Q4 77.1%
FY24 Q1 61.4%
FY24 Q2 63.7%
FY24 Q3 53.8%
FY24 Q4 62.1%
FY25 Q1 61.3%
FY25 Q2 68.2%
FY25 Q3 64.8%
FY25 Q4 48.4%
FY26 Q1 39.0%
FY26 Q2 30.1%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-K/A, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 334 279 285 304 345 304 272 238
Net income 230 18 224 265 58 −120 127 132
Diluted EPS $1.40 $0.01 $1.46 $1.68 $0.29 −$0.97 $0.81 $0.96
Growth (year on year)
Revenue — −16.7% +2.1% +6.7% +13.5% −11.9% −10.6% −14.7%
Net income — −92.0% +>999% +18.7% −78.1% −305.8% — —
Diluted EPS — −99.3% +>999% +15.1% −82.7% −434.5% — —
Margins
Net margin 68.8% 6.6% 78.6% 87.4% 16.9% −39.4% 46.7% 55.5%
Cash flow
Cash from operations 273 164 199 268 274 200 143 86
Stock-based pay 16 17 18 18 17 16 14 13
Balance sheet
Cash 452 325 343 222 225 317 140 1,239
Total debt 3,078 3,465 787 0 0 0 0 0
Net debt (negative = net cash) 2,626 3,140 444 −222 −225 −317 −140 −1,239
Diluted shares 176m 148m 168m 166m 141m 140m 139m 137m
Returned to shareholders
Dividends 269 238 200 201 202 186 141 141
Buybacks 0 128 0 0 0 41 0 124
Total returned 269 366 200 201 202 227 141 264

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Dividends, buybacks and capital spending

FY2026 Q2 TTM
Buybacks (TTM)
$124M
Dividends (TTM)
$141M
Returned to shareholders
369%
of free cash flow
Buybacks, last 3 fiscal years
$40.8M
Diluted share count
−1.1%
year over year
Total shareholder yield
89.3%
dividends 47.6% + buybacks 41.7% of market value
Dividend payout ratio
107%
of net income paid out

Competitors: side by side with peers

Closest by revenue in mortgage reits
Last 12 months unless stated ARI BRSP PMT CMTG TRTX ABR Median
Revenue, last 12 months $238m $339m $348m $152m $142m $461m $142m
Revenue growth, last 12 months −14.7% 2.5% 14.6% −30.9% −2.4% −12.9% −2.4%
Revenue growth, 3-year average −11.5% −6.6% −3.0% −21.1% 5.6% −14.2% −5.1%
Revenue growth, latest quarter −37.4% 4.1% 3.6% −42.5% −5.1% −16.3% 0.9%
Net margin 55.5% 5.6% 47.8% −354.1% 31.9% −23.3% 11.4%
Cash from operations / revenue 36.3% 21.3% <−999% −4.9% 59.9% 72.6% 27.9%
Free-cash-flow margin 30.1% 18.0% — −19.3% 54.7% 66.7% 24.1%
Free-cash-flow margin, 3-year average 54.0% 22.7% — 5.2% 60.7% 73.0% 35.0%
Stock pay / revenue 5.4% 3.8% 1.4% 5.5% 6.9% 3.2% 4.3%
Change in share count −1.1% −2.4% 4.7% 0.8% −3.0% −3.8% 0.5%

Median of all 15 companies we cover in mortgage reits. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

15 mortgage reits companies
Measure Company Peer median Rank
Revenue growth Growth -14.7% -2.4% 12 of 14
Change in growth rate Growth -6.2pp +2.3pp 12 of 14
Net margin Profitability 55.5% 11.4% 2 of 14
Stock pay as % of revenue Cash generation 5.4% 5.4% 6 of 10
Change in share count Balance sheet -1.1% 0.5% 5 of 14

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Who owns it

Funds buying and selling
Reported value
$866M
Institutions reporting
282
Shares held vs prior quarter
▼ 5.5%
Positions opened / closed
64 / 46

Top buyers and sellers, Q2 2026: 141 institutions bought and 129 sold ; the biggest buyer was Millennium Management LLC (+3.3M shares) and the biggest seller Blackrock, Inc (−9.3M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $127M 11.9M 14.7% ▼ 43.7%
Vanguard Portfolio Management LLC $65M 6.1M 7.5% ▼ 23.3%
Vanguard Capital Management LLC $64.4M 6.0M 7.4% ▼ 5.9%
Millennium Management LLC $48.7M 4.6M 5.6% ▲ 254.8%
Geode Capital Management, LLC $36.1M 3.4M 4.2% ▲ 1.8%
State Street Corp $35.6M 3.3M 4.1% ▼ 36.7%
Mirae Asset Global Etfs Holdings Ltd. $30.3M 2.8M 3.5% ▲ 3.3%
No Street Gp LP $26.1M 2.4M 3.0% ▼ 27.1%
Charles Schwab Investment Management Inc $21.7M 2.0M 2.5% ▼ 5.7%
Schonfeld Strategic Advisors LLC $20.5M 1.9M 2.4% New
Jane Street Group, LLC $19.4M 1.8M 2.2% ▲ 1087.6%
Northern Trust Corp $17.7M 1.7M 2.0% ▼ 2.3%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Apollo Commercial Real Estate Finance, Inc.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $585,631 4 trades by 3 insiders · 90% under pre-set plans
Net ▼ $585,631 net selling
Insider Date Trade Shares Price Value
Salvati Michael Director August 25, 2026 Sell 835 $6.86 $5,728
Salvati Michael Director August 25, 2026 Sell 125 $6.86 $858
Whonder Carmencita N.M. Director May 13, 2026 Sell 4,574 $10.93 $49,994
Rothstein Stuart President & CEO December 15, 2025 Sell pre-set plan 52,072 $10.16 $529,052

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 2 trades and filings

No trades in Apollo Commercial Real Estate Finance, Inc. disclosed in the last 12 months; 2 earlier trades on record.

  • Donna Shalala(FL):Sale (full), $1,001 - $15,000, traded June 24, 2019, filed April 27, 2020
  • Donna Shalala(FL):Purchase, $1,001 - $15,000, traded January 9, 2019, filed April 27, 2020

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around October 30, 2026 estimated from the company's past filing pattern, not announced

  • August 11, 2026
  • April 29, 2026
  • February 11, 2026
  • October 31, 2025
  • July 30, 2025
  • April 25, 2025

Recent SEC filings

Data status

When each part of this page on Apollo Commercial Real Estate Finance, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Apollo Commercial Real Estate Finance, Inc. in brief

What does Apollo Commercial Real Estate Finance, Inc. do?
Apollo Commercial Real Estate Finance, Inc. is a US-listed company in the mortgage REITs industry. Its financial year ends in December.
What is Apollo Commercial Real Estate Finance, Inc.'s stock ticker?
Apollo Commercial Real Estate Finance, Inc. trades under the ticker ARI on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Apollo Commercial Real Estate Finance, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Apollo Commercial Real Estate Finance, Inc. reported revenue of $238M, 14.7% lower than a year earlier, according to its SEC filings.
What is Apollo Commercial Real Estate Finance, Inc.'s free cash flow?
Apollo Commercial Real Estate Finance, Inc.'s free-cash-flow margin is 30.1% of revenue over the trailing twelve months.
Who are Apollo Commercial Real Estate Finance, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Vanguard Portfolio Management LLC and Vanguard Capital Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Apollo Commercial Real Estate Finance, Inc. buying back stock, and does it pay a dividend?
Apollo Commercial Real Estate Finance, Inc. spent $124M on share repurchases over the trailing twelve months, and its diluted share count fell 1.1% over the year.
What is Apollo Commercial Real Estate Finance, Inc.'s market cap?
On November 2, 2026, Apollo Commercial Real Estate Finance, Inc.'s market capitalisation was about $317M, with a price-to-earnings ratio of 2.4 and net debt of -$1.2B. Market figures come from third-party market data and may be delayed.
Does Apollo Commercial Real Estate Finance, Inc. pay a dividend?
Yes: Apollo Commercial Real Estate Finance, Inc. paid $141M in dividends over the trailing twelve months, a dividend yield of 47.59% and a payout ratio of 106.8%.
Who are Apollo Commercial Real Estate Finance, Inc.'s competitors?
In our Mortgage REITs peer group, the companies closest to Apollo Commercial Real Estate Finance, Inc. are Brightspire Capital, Inc., Pennymac Mortgage Investment Trust, Claros Mortgage Trust, Inc., TPG RE Finance Trust, Inc. and Arbor Realty Trust Inc. The side-by-side comparison below sets their revenue, margins and growth against Apollo Commercial Real Estate Finance, Inc.'s.
Are insiders buying or selling Apollo Commercial Real Estate Finance, Inc. stock?
Over the last 12 months, Apollo Commercial Real Estate Finance, Inc.'s directors and officers reported 0 open-market purchases and 4 sales on Form 4. The insider trading page charts every trade.
When is Apollo Commercial Real Estate Finance, Inc.'s next earnings date?
Around November 3, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Apollo Commercial Real Estate Finance, Inc. announces its own schedule.