Apollo Commercial Real Estate Finance, Inc. Reports Third Quarter 2020 Results

NEW YORK, Oct. 26, 2020 (GLOBE NEWSWIRE) -- Apollo Commercial Real Estate Finance, Inc. (the “Company” or “ARI”) (NYSE:ARI), today reported results for the quarter and nine months ended September 30, 2020.  

Third quarter 2020 net income per share of common stock was $0.31 and Operating Earnings (a non-GAAP financial measure defined below) was $0.36 per share of common stock.  

“Despite continued economic uncertainty, ARI had another solid quarter, producing operating earnings that covered the $0.35 per share quarterly dividend,” said Stuart Rothstein, Chief Executive Officer and President of the Company. “Importantly, ARI achieved these results while maintaining a defensive capital position, ending the quarter with $450 million of liquidity after opportunistically using some excess liquidity to repurchase common stock. To date, ARI has repurchased $119.2 million of common stock at a price which is accretive to both operating earnings and book value per share.”

ARI issued a detailed presentation of the Company’s quarter and nine months ended September 30, 2020 results, which can be viewed at www.apolloreit.com.

Conference Call and Webcast:
Members of the public who are interested in participating in the Company’s third quarter 2020 earnings teleconference call should dial from the U.S., [phone], or from outside the U.S., [phone], shortly before 10:30 a.m. on Tuesday, October 27, 2020 and reference the Apollo Commercial Real Estate Finance, Inc. Teleconference Call (number 8891598). Please note the teleconference call will be available for replay beginning at 1:00 p.m. on Tuesday, October 27, 2020 and ending at midnight on Tuesday, November 3, 2020. To access the replay, callers from the U.S. should dial [phone] and callers from outside the U.S. should dial [phone], and enter conference identification number 8891598. The conference call will also be available on the Company's website at www.apolloreit.com. To listen to a live broadcast, please go to the site at least 15 minutes prior to the scheduled start time in order to register, download and install any necessary audio software. A replay of the call will also be available for 30 days on the Company’s website.