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

Earnings Press Release
10-Q Quarterly Report
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Apollo Commercial Real Estate Finance, I
Ticker: ARI CIK: 1467760

Exhibit 99.1

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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

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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;

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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;

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

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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;

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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;

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

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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;

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

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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:

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

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$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

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