Last10K.com

Apollo Commercial Real Estate Finance, Inc. (ARI) SEC Filing 10-Q Quarterly report for the period ending Sunday, September 30, 2018

Apollo Commercial Real Estate Finance, I

CIK: 1467760 Ticker: ARI

Exhibit 99.1

 

LOGO

CONTACT:     Hilary Ginsberg

                           (212) 822-0767

APOLLO COMMERCIAL REAL ESTATE FINANCE, INC. REPORTS

SECOND QUARTER 2018 FINANCIAL RESULTS

New York, NY, July 25, 2018 – Apollo Commercial Real Estate Finance, Inc. (the “Company” or “ARI”) (NYSE:ARI) today reported financial results for the quarter ended June 30, 2018.

Second Quarter 2018 Highlights

 

    Reported net income available to common stockholders of $48.5 million, or $0.39 per diluted share of common stock, for the three months ended June 30, 2018, as compared to $26.9 million, or $0.28 per diluted share of common stock, for the three months ended June 30, 2017;

 

    Reported Operating Earnings (a non-GAAP financial measure defined below) of $54.9 million, or $0.44 per diluted share of common stock, for the three months ended June 30, 2018, as compared to $44.6 million, or $0.46 per diluted share of common stock, for the three months ended June 30, 2017;

 

    Generated $70.8 million of net interest income during the quarter from the Company’s $4.9 billion commercial real estate loan portfolio;

 

    Committed $968.0 million to new commercial real estate loans ($961.7 million of which was funded at closing) and funded an additional $112.5 million for loans closed prior to the quarter;

 

    Subsequent to quarter end, committed $87.0 million to new commercial real estate loans (all of which was funded at closing), bringing year-to-date loan commitments to $2.0 billion;

 

    Amended and restated the Company’s master repurchase agreement with JPMorgan Chase Bank to extend the term through June 2021;

 

    Amended the Company’s master repurchase agreement with Deutsche Bank to increase the borrowing capacity to $855 million and extend the term through March 2021;

 

    Entered into a master repurchase agreement with Credit Suisse to finance a first mortgage; and

 

    Declared a $0.46 dividend per share of common stock for the three months ended June 30, 2018.

“ARI has committed to over $1.9 billion of commercial real estate loans in the first six months of 2018, our strongest period of originations to-date and just $100 million shy of our total 2017 originations,” said Stuart Rothstein, Chief Executive Officer and President of the Company. “ARI’s loan portfolio totaled $4.9 billion of amortized cost at quarter end, an increase of approximately 36% as compared to the end of the second quarter of 2017. We believe ARI’s performance demonstrates the benefits of the Company’s nine-year track record as a reliable, creative capital solutions provider to the commercial real estate industry.”

Second Quarter 2018 Investment Activity

New Investments – During the second quarter of 2018, ARI committed capital to the following commercial real estate debt investments:

 

    $783.9 million of first mortgage loans ($777.6 million of which were funded during the quarter); and

 

    $184.1 million of subordinate loans ($184.1 million of which were funded during the quarter).

Funding of Previously Closed Loans – During the second quarter of 2018, ARI funded $112.5 million for loans closed prior to the quarter.


The following information was filed by Apollo Commercial Real Estate Finance, Inc. (ARI) on Thursday, July 26, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one quarter to another to evaluate Apollo Commercial Real Estate Finance, Inc.'s financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Apollo Commercial Real Estate Finance, Inc..

Continue

Assess how Apollo Commercial Real Estate Finance, Inc.'s management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
Screenshot example of actual Proxy Statement

Apollo Commercial Real Estate Finance, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2018 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

Continue

SEC Filing Tools

Rating

Learn More
Bullish Bearish Neutral
Filter Sentiment:
All
Positive
Negative
Filter Category:
All
Financial
Revenue
Other
Filter Subcategory:
All
Shares
Product
Dividend
Income
Debt
Earnings
Expense
Geography
Other
Inside Apollo Commercial Real Estate Finance, Inc.'s 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Consolidated Balance Sheets (Unaudited)
Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical)
Condensed Consolidated Statement Of Cash Flows (Unaudited)
Condensed Consolidated Statement Of Changes In Stockholders' Equity (Unaudited)
Condensed Consolidated Statement Of Changes In Stockholders' Equity (Unaudited) (Parenthetical)
Condensed Consolidated Statement Of Comprehensive Income (Unaudited)
Condensed Consolidated Statement Of Operations (Unaudited)
Condensed Consolidated Statement Of Operations (Unaudited) (Parenthetical)
Accounts Payable, Accrued Expenses And Other Liabilities
Accounts Payable, Accrued Expenses And Other Liabilities (Details)
Accounts Payable, Accrued Expenses And Other Liabilities (Tables)
Commercial Mortgage And Subordinate Loans, Net
Commercial Mortgage And Subordinate Loans, Net (Tables)
Commercial Mortgage And Subordinate Loans, Net - Activity Relating To Loan Investment Portfolio (Details)
Commercial Mortgage And Subordinate Loans, Net - Additional Information (Details)
Commercial Mortgage And Subordinate Loans, Net - Allocation Of Carrying Value Of Loan Portfolio Based On Internal Risk Ratings (Details)
Commercial Mortgage And Subordinate Loans, Net - Loan Portfolio (Details)
Commercial Mortgage And Subordinate Loans, Net - Schedule Of Mortgage Loans By Property Type And Geographic Distribution (Details)
Commercial Mortgage And Subordinate Loans, Net - Statistics For Loan Portfolio (Details)
Commitments And Contingencies
Commitments And Contingencies (Details)
Convertible Senior Notes, Net
Convertible Senior Notes, Net (Details)
Convertible Senior Notes, Net (Tables)
Derivatives, Net
Derivatives, Net (Tables)
Derivatives, Net - Summarizes Gross Asset And Liability Amounts Related To Derivatives (Details)
Derivatives, Net - Summary Of Amounts Recognized On Consolidated Statements Of Operations Related To Company's Derivatives (Details)
Derivatives, Net - Summary Of Non-Designated Foreign Exchange Forwards (Details)
Fair Value Disclosure
Fair Value Disclosure (Tables)
Fair Value Disclosure - Summarizes Levels In Fair Value Hierarchy Of Financial Instruments (Details)
Fair Value Of Financial Instruments
Fair Value Of Financial Instruments (Tables)
Fair Value Of Financial Instruments - Carrying Value And Estimated Fair Value Of Company's Financial Instruments (Details)
Loan Proceeds Held By Servicer
Loan Proceeds Held By Servicer (Details)
Net Income (Loss) Per Share
Net Income (Loss) Per Share (Tables)
Net Income (Loss) Per Share - Additional Information (Details)
Net Income (Loss) Per Share - Basic And Diluted Net Income Per Share Of Common Stock Using Two-Class Method (Details)
Organization
Other Assets
Other Assets (Details)
Other Assets (Tables)
Related Party Transactions
Related Party Transactions (Details)
Secured Debt Arrangements, Net
Secured Debt Arrangements, Net (Tables)
Secured Debt Arrangements, Net - Additional Information (Details)
Secured Debt Arrangements, Net - Remaining Maturities Of Borrowings (Details)
Secured Debt Arrangements, Net - Summary Of Outstanding Balances, Maximum And Average Balances Of Borrowings (Details)
Secured Debt Arrangements, Net - Weighted Average Maturities And Interest Rates Of Borrowings (Details)
Securities
Securities (Details)
Share-Based Payments
Share-Based Payments (Tables)
Share-Based Payments - Additional Information (Details)
Share-Based Payments - Summary Of Grants, Exchanges And Forfeitures Of Restricted Stock And Rsus (Details)
Share-Based Payments - Summary Of Restricted Stock And Rsu Vesting Dates (Details)
Stockholders' Equity
Stockholders' Equity (Tables)
Stockholders' Equity - Additional Information (Details)
Stockholders' Equity - Dividends Declared (Details)
Subsequent Events
Subsequent Events (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies (Tables)
Summary Of Significant Accounting Policies - Additional Information (Details)
Summary Of Significant Accounting Policies - Cash, Cash Equivalents And Restricted Cash (Details)

Material Contracts, Statements, Certifications & more

Apollo Commercial Real Estate Finance, Inc. provided additional information to their SEC Filing as exhibits

Ticker: ARI
CIK: 1467760
Form Type: 10-Q Quarterly Report
Accession Number: 0001467760-18-000012
Submitted to the SEC: Wed Oct 24 2018 4:46:24 PM EST
Accepted by the SEC: Wed Oct 24 2018
Period: Sunday, September 30, 2018
Industry: Real Estate Investment Trusts

External Resources:
Stock Quote
Social Media

Bookmark the Permalink:
https://last10k.com/sec-filings/ari/0001467760-18-000012.htm