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Apollo Commercial Real Estate Finance
Apollo Commercial Real Estate Finance (ARI) investor relations material
Apollo Commercial Real Estate Finance Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q1 2026 earnings summary29 Apr, 2026
Executive summary
Completed sale of commercial real estate loan portfolio for up to $9B, transforming the balance sheet and capital structure, with proceeds used to repay all secured and corporate debt.
Net income available to common stockholders was $23.2M ($0.16 per diluted share) for Q1 2026.
Distributable Earnings for Q1 2026 were $31M ($0.22 per diluted share).
Board approved a $150M stock repurchase program.
Management is evaluating new commercial real estate strategies, with updates expected in coming months.
Financial highlights
Net interest income for Q1 2026 was $36M, down from $39M in Q1 2025.
Interest income from commercial mortgage loans rose to $150M, while interest expense increased to $114M.
Declared dividends of $0.25 per common share and $0.45 per preferred share for Q1 2026.
Repurchased 2.9M shares at an average price of $10.52, accreting $0.03 to book value per share.
Ended Q1 with $285M in liquidity, including $229M in cash.
Outlook and guidance
Strategic review ongoing, with clarity on future direction expected within months.
Book value per share post-portfolio sale is $12.15.
Quarterly dividend policy targets an 8% annualized yield on book value per share.
Future dividends likely to include a significant return of capital component.
New management agreement ties base management fee to return on equity, with incentive fees above an 8% ROE hurdle.
Impact of credit loss provisions on dividends
Forward point gains in Distributable Earnings
Timing and scale of unfunded loan commitments
Post-Asset Sale book value per share
New ROE-based management fee thresholds
Primary assets remaining after Athene sale
Cash investment approach during strategic review
REO exit strategy via liquidating trust
Future dividend return of capital component
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Latest events from Apollo Commercial Real Estate Finance
- Shareholders to vote on major asset sale, new management fee structure, and related proposals.ARI
Proxy filing23 Mar 2026 - $8.8B loan portfolio, 9.4% yield, and robust Apollo backing drive strong performance.ARIInvestor presentation9 Mar 2026
- Shareholders to vote on $9B asset sale to Athene, revised management fees, and future strategy.ARIProxy Filing9 Mar 2026
- Shareholders are asked to approve a $9B commercial loan sale to Athene, offering higher yields.ARIProxy Filing20 Feb 2026
- Portfolio sale prompts asset value maximization and strategic review, with shareholder vote pending.ARIProxy Filing12 Feb 2026
- 2025 net income was $114M; full loan portfolio sale to Athene at 99.7% of commitments.ARIQ4 202511 Feb 2026
- Stockholders to vote on $9B asset transfer to Athene, aiming to enhance value and efficiency.ARIProxy Filing10 Feb 2026
- Proposed $9B real estate loan portfolio acquisition highlights disciplined, long-term strategy.ARIProxy Filing6 Feb 2026
- $9B real estate loan portfolio acquired with robust oversight and long-term investment focus.ARIProxy Filing6 Feb 2026
Next Apollo Commercial Real Estate Finance earnings date
Q2 202629 Jul, 2026
Apollo Commercial Real Estate Finance
Next Apollo Commercial Real Estate Finance earnings date
Q2 202629 Jul, 2026
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Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
Eferix Drawings Google Play
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Amina0781App Store
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