Apollo Commercial Real Estate Finance posts 3Q profit of $19.2M, result misses forecasts

MarketsAssociated Press

Apollo Commercial Real Estate Finance Inc. (ARI) on Wednesday reported earnings of $19.2 million in its third quarter.

On a per-share basis, the New York-based company said it had net income of 37 cents. Earnings, adjusted for non-recurring costs and amortization costs, came to 44 cents per share.

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The results did not meet Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 45 cents per share.

The real estate investment trust posted revenue of $26.6 million in the period.

Apollo Commercial Finance shares have climbed roughly 2 percent since the beginning of the year. The stock has risen 0.5 percent in the last 12 months.

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Elements of this story were generated by Automated Insights using data from Zacks Investment Research. ARI stock research report from Zacks.

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Keywords:Apollo Commercial Finance,Earnings Report