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ARIApollo Commercial Real Estate Finance, Inc.
$10.29$1.4B
Overview & Verdict
Overview
Valuation & Forecasts
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Price & Analyst Data
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ARI logoApollo Commercial Real Estate Finance, Inc.(ARI)Earnings, Financials & Key Ratios

ARI•NYSE•REIT / Real Estate
$10.29
12.7× P/E·Price updated Jul 6, 2026
SectorReal EstateIndustryMortgage REITsSub-IndustryCommercial mortgage loan REITs
AboutApollo Commercial Real Estate Finance, Inc. operates as a real estate investment trust (REIT) that originates, acquires, invests in, and manages commercial first mortgage loans, subordinate financings, and other commercial real estate-related debt investments in the United States. It is qualified as a REIT under the Internal Revenue Code. As a REIT, it would not be subject to federal income taxes, if the company distributes at least 90% of its REIT taxable income to its stockholders. Apollo Commercial Real Estate Finance, Inc. was founded in 2009 and is based in New York, New York.Show more
  • Revenue$710M+1.3%
  • FFO$138M+227.7%
  • FFO/Share0.99+228.5%
  • FFO Payout102.45%+159.5%
  • FFO per Share0.99+228.5%
  • NOI Margin80.05%+0.2%
  • FFO Margin19.41%+226.1%
  • ROE6.79%+215.9%
  • ROA1.38%+202.4%

ARI Price & Volume

Apollo Commercial Real Estate Finance, Inc. (ARI) stock price & volume — 10-year historical chart

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Persistent Margin Compression Challenges ARI Portfolio Stability

Investment Thesis • Updated 2026Q1

VerdictNegative
Growth:Contracting
Profitability:Strained
Financial:Vulnerable
Cash Flow:Deteriorating
Primary Risk:CRE valuation and liquidity

Key Thesis Takeaways

  • Apollo Commercial Real Estate Finance faces significant headwinds as its revenue trajectory remains stagnant, evidenced by a 0.8% year-over-year decline in 2026Q1.
  • The firm's reliance on volatile FFO metrics and frequent negative AFFO, such as the $134.1 million deficit in 2024Q3, suggests structural challenges in maintaining consistent dividend coverage.
  • Investors should remain cautious given the elevated 4.27x debt-to-equity ratio and the ongoing erosion of profitability at the property level.

Verdict Logic

the company's inability to consistently generate positive AFFO, coupled with a 9.4% dividend yield that appears unsupported by cash flow, suggests significant risk to capital preservation.

ARI Growth Metrics

Apollo Commercial Real Estate Finance, Inc. (ARI) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years13.69%
5 Years15.69%
3 Years3.47%
TTM7.28%

Profit CAGR

10 Years2.07%
5 Years47.13%
3 Years-21.82%
TTM1066.98%

EPS CAGR

10 Years-6.1%
5 Years143.31%
3 Years-21.59%
TTM2766.67%

Return on Capital

10 Years5.59%
5 Years6.05%
3 Years5.4%
Last Year5.59%

ARI Recent Earnings

Apollo Commercial Real Estate Finance, Inc. (ARI) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 6/12 qtrs (50%)●Beat Revenue 9/12 qtrs (75%)
Q2 2026Latest
Apr 28, 2026
Metric
Actual
Est
EPS
$0.22-24.1%
$0.29
Rev
$59M-24.7%
$78M
Q1 2026
Feb 10, 2026
Metric
Actual
Est
EPS
$0.26-3.7%
$0.27
Rev
$73M+5.1%
$70M
Q4 2025
Oct 30, 2025
Metric
Actual
Est
EPS
$0.30+21.4%
$0.25
Rev
$167M+240.1%
$49M
Q3 2025
Jul 29, 2025
Metric
Actual
Est
EPS
$0.26+0.0%
$0.26
Rev
$187M+276.9%
$50M
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestApr 28, 2026
$0.22vs $0.29-24.1%
$59Mvs $78M-24.7%
Q1 2026Feb 10, 2026
$0.26vs $0.27-3.7%
$73Mvs $70M+5.1%
Q4 2025Oct 30, 2025
$0.30vs $0.25+21.4%
$167Mvs $49M+240.1%
Q3 2025Jul 29, 2025
$0.26vs $0.26+0.0%
$187Mvs $50M+276.9%
Based on last 12 quarters of dataView full earnings history →

Latest ARI News

Recent stock market news and headlines for Apollo Commercial Real Estate Finance, Inc. (ARI)

GlobeNewsWire·Jun 24, 2026
Apollo Commercial Real Estate Finance, Inc. Announces Update Regarding Previously Announced Common Stock Dividend

NEW YORK, June 24, 2026 (GLOBE NEWSWIRE) -- Apollo Commercial Real Estate Finance, Inc. (the “Company” or “ARI”) (NYSE:ARI) today announced that in connection with the Company's previously announced dividend of $3.75 per share of common stock, which is payable on July 15, 2026, to common stockholders of record on June 30, 2026, that the ex-dividend date for this dividend will be July 16, 2026.

PRNewsWire·Jun 23, 2026
Honeywell Aerospace Set to Join S&P 500 & S&P 100; Others to Join S&P MidCap 400 and S&P SmallCap 600

NEW YORK, June 23, 2026 /PRNewswire/ -- S&P Dow Jones Indices will make the following changes to the S&P 500, S&P 100, S&P MidCap 400, and S&P SmallCap 600:  Honeywell Aerospace Inc. (NASD: HONA) will be added to the S&P 500 & 100 on Monday, June 29. Honeywell Aerospace will replace Conagra Brands Inc. (NYSE: CAG) in the S&P 500, and Conagra Brands will replace Grid Dynamics Holdings Inc.(NASD: GDYN) in the S&P SmallCap 600 effective prior to the opening of trading on Tuesday, June 30.

Seeking Alpha·Jun 16, 2026
Apollo Commercial Being Liquidated, Showing Investors How To Profit (Downgrade)

Apollo Commercial Real Estate Finance, Inc. is pursuing liquidation, pending shareholder approval, after failing to find a viable path forward. ARI will return cash to shareholders and attempt to sell its $466M REO portfolio, with a special $3.75/share dividend declared. The current market price ($11/share) trades at a modest 8.3% discount to book value ($12/share), reflecting uncertainty around asset liquidation values.

GlobeNewsWire·Jun 15, 2026
Apollo Commercial Real Estate Finance, Inc. Declares Quarterly Common Stock Dividend and Provides Update on Review of Strategic Alternatives

NEW YORK, June 15, 2026 (GLOBE NEWSWIRE) -- Apollo Commercial Real Estate Finance, Inc. (the “Company” or “ARI”) (NYSE:ARI) today announced the Board of Directors declared a dividend of $3.75 per share of common stock, which is payable on July 15, 2026 to common stockholders of record on June 30, 2026. The dividend payment will be predominately classified as return of capital.

Peers Comparison

Key metrics vs top competitors for Apollo Commercial Real Estate Finance, Inc. (ARI)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
ARI logoARIApollo Commercial Real Estate Finance, Inc.Current
$10.29$1.37B12.701.28%17.84%6.79%9.89%
BXMT logoBXMTBlackstone Mortgage Trust, Inc.
$17.46$2.95B27.28-13.96%6.75%2.93%—
KREF logoKREFKKR Real Estate Finance Trust Inc.
$7.04$452.67M-6.70-22.72%-23.56%-8.4%—
TRTX logoTRTXTPG RE Finance Trust, Inc.
$8.34$644.75M14.63123.25%23.2%5.7%—
GPMT logoGPMTGranite Point Mortgage Trust Inc.
$1.46$69.96M-1.26187.77%-30.49%-7.1%—
RC logoRCReady Capital Corporation
$1.66$274.26M-1.151725.96%-290.69%-29.57%—

Compare ARI vs Peers

Apollo Commercial Real Estate Finance, Inc. (ARI) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs BXMT

Most directly comparable listed peer for ARI.

Scale Benchmark

vs MS

Larger-name benchmark to compare ARI against a more recognizable public peer.

Peer Set

Compare Top 5

vs BXMT, KREF, TRTX, GPMT

ARI SEC Filings & Documents

Apollo Commercial Real Estate Finance, Inc. (ARI) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Apr 29, 2026·SEC

Material company update

Apr 24, 2026·SEC

Material company update

Apr 22, 2026·SEC

10-K Annual Reports

5
FY 2026

Feb 10, 2026·SEC

FY 2025

Feb 10, 2025·SEC

FY 2024

Feb 6, 2024·SEC

10-Q Quarterly Reports

6
FY 2026

Apr 28, 2026·SEC

FY 2025

Oct 30, 2025·SEC

FY 2025

Jul 29, 2025·SEC

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ARI Frequently Asked Questions

Apollo Commercial Real Estate Finance, Inc. (ARI) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
What is Apollo Commercial Real Estate Finance, Inc.'s revenue?

Apollo Commercial Real Estate Finance, Inc. (ARI) reported $709.2M in revenue for fiscal year 2025. This represents a 119090% increase from $0.6M in 2009.

How fast is Apollo Commercial Real Estate Finance, Inc. growing?

Apollo Commercial Real Estate Finance, Inc. (ARI) grew revenue by 1.3% over the past year. Growth has been modest.

Is ARI profitable?

Yes, Apollo Commercial Real Estate Finance, Inc. (ARI) is profitable, generating $127.0M in net income for fiscal year 2025 (17.8% net margin).

Dividend & Returns
Does ARI pay dividends?

Yes, Apollo Commercial Real Estate Finance, Inc. (ARI) pays a dividend with a yield of 9.89%. This makes it attractive for income-focused investors.

What is ARI's return on equity?

Apollo Commercial Real Estate Finance, Inc. (ARI) has a return on equity (ROE) of 6.8%. This is below average, suggesting room for improvement.

Industry Metrics
What is Apollo Commercial Real Estate Finance, Inc.'s FFO?

Apollo Commercial Real Estate Finance, Inc. (ARI) generated Funds From Operations (FFO) of $139.7M in the trailing twelve months. FFO is the primary profitability metric for REITs.

Is ARI a good dividend stock?

Apollo Commercial Real Estate Finance, Inc. (ARI) offers a 9.89% dividend yield, which is attractive for income investors. REITs are required to distribute at least 90% of taxable income to shareholders.

What if you invested $1,000 in ARI back in 2009?

Total return calculator · dividends reinvested · 17+ years of data

See returns →