- Q2 operating earnings of $0.51 (after backing out $1.3M of expenses from the acquisition of Apollo Residential Mortgage) vs. $0.45 earned one year ago. Dividend is $0.46.
- Net interest income of $46.9M on the $2.7B commercial real estate portfolio, which had a fully levered weighted average return of about 13.2%.
- Closed $95.5M of commercial real estate debt investments and funded another $63.7M for previously closed loans.
- Book value per share of $15.51 slips from $15.89 three months earlier, mostly thanks to $0.17 of unrealized marked to market losses on the CMBS portfolio. There's also a $15M or $0.22 per share provision booked in connection with a $55M first mortgage secured by a North Dakota apartment property.
- CC tomorrow at 9 ET
- In other news, aggregate consideration for the NYSE:AMTG purchase values it as of July 22 at $13.83 per share. AMTG owners will receive 0.417571 shares of ARI common stock.