Barclays Maintains an 'Equalweight' on Apollo Commercial Real Estate Finance (ARI); Effectively Using Capital, But Shares Trading In-line Vs. Peers

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Barclays maintains an 'Equalweight' on Apollo Commercial Real Estate Finance (NYSE: ARI) price target raised from $15 to $16.

Analyst, Ross L. Smotrich, said, "Overall, the commercial real estate financing markets continue to improve in terms of volume and rate across the quality spectrum including lower tier assets in secondary markets. Despite positive flows, the investment environment for mezzanine loans remains attractive for ARI on an unlevered basis."

To reflect the sale of its CMBS position and lag for reinvestment, Smotrich cuts FY12 EPS estimate from $1.78 to $1.63 and FY13 cut from $1.82 to $1.70. Overall, Smotrich sees ARI trading in-line with commercial mortgage peer group, therefore, maintains EW rated.

For an analyst ratings summary and ratings history on Apollo Commercial Real Estate Finance click here. For more ratings news on Apollo Commercial Real Estate Finance click here.

Shares of Apollo Commercial Real Estate Finance closed at $15.97 yesterday, with a 52 week range of $11.79-$16.50.

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