Apollo Commercial Q2 EPS excluding investment loss beats

|About: Apollo Commercial Real Esta... (ARI)|By:, SA News Editor

Apollo Commercial Real Estate (NYSE:ARI) Q2 operating EPS, excluding realized loss on investments, of 47 cents exceeded the average analyst estimate of 46 cents; compares with 44 cents in the year-ago quarter.

As for the loss on investments, the underlying collateral on a commercial mortgage loan and a contiguous subordinate loan secured by a multifamily property located in Williston, ND, was sold resulting in a realized loss of $12.5M; consequently, the previously recorded $15.0 million loan loss provision was reversed.

ARI falls 0.8% in after-hours trading.

Q2 net interest income of $85.0M rose from $70.8M in the year-ago quarter.

During Q2, ARI committed capital to following commercial real estate loans: $514.3M of first mortgage loans ($314.3M of which were funded during the quarter) and $40.0M subordinate loan ($31.8M of which was funded during the quarter).

Received $167.7M from loan repayments during the quarter.

Book value per share was $16.30 at June 30, 2019 vs. $16.20 at Dec. 31, 2018.

Conference call on July 25 at 10:00 AM ET.

Previously: Apollo Commercial Real Estate Finance EPS beats by $0.01, beats on net interest income (July 24)

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