NEW YORK (AP) — NEW YORK (AP) — Apollo Commercial Real Estate Finance (ARI) on Thursday reported first-quarter net income of $26 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the New York-based company said it had profit of 16 cents. Earnings, adjusted for non-recurring costs and stock option expense, were 24 cents per share.
The real estate investment trust posted revenue of $65.8 million in the period. Its adjusted revenue was $39.5 million.
Apollo Commerical Finance shares have risen 5% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $9.09, a decrease of 16% in the last 12 months.
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