Apollo Commercial Real Estate Finance, Inc. Reports Fourth Quarter and Full Year 2020 Results

Board of Directors Authorizes $150 Million Increase to Share Repurchase Plan

NEW YORK, Feb. 10, 2021 (GLOBE NEWSWIRE) -- Apollo Commercial Real Estate Finance, Inc. (the “Company” or “ARI”) (NYSE:ARI), today reported results for the quarter and year ended December 31, 2020. In addition, ARI announced the Company’s Board of Directors authorized an increase of $150 million to the existing share repurchase plan. Following the increase, ARI has $172 million of current capacity under the plan.

For the fourth quarter of 2020, net income available to common stockholders per share of common stock was $0.23, and Distributable Earnings (a non-GAAP financial measure defined below), prior to realized loss on investments were $0.36 per share of common stock.   Distributable Earnings for the fourth quarter were $0.15 per share of common stock.

Commenting on the results, Stuart Rothstein, Chief Executive Officer and President of ARI, said: “Despite the challenges created by the pandemic, ARI’s performance in 2020 affirmed our ability to be thoughtful, strategic and pro-active with respect to asset and balance sheet management. The success of our efforts is evidenced by the strong balance sheet and increased liquidity we were able to maintain throughout the year while still being able to provide a stable and well covered dividend to our stockholders.”

ARI issued a detailed presentation of the Company’s quarter and year ended December 31, 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 fourth quarter and full year 2020 earnings teleconference call should dial from the U.S., [phone], or from outside the U.S., [phone], shortly before 10:00 a.m. on Thursday, February 11, 2021 and reference the Apollo Commercial Real Estate Finance, Inc. Teleconference Call (number 5487683). Please note the teleconference call will be available for replay beginning at 1:00 p.m. on Thursday, February 11, 2021 and ending at midnight on Thursday, February 18, 2021. 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 5487683.