NEW YORK (AP) — NEW YORK (AP) — Apollo Commercial Real Estate Finance (ARI) on Thursday reported third-quarter net income of $50.8 million, after reporting a loss in the same period a year earlier.
The New York-based company said it had profit of 34 cents per share. Earnings, adjusted for non-recurring gains, were 30 cents per share.
The real estate investment trust posted revenue of $61.6 million in the period. Its adjusted revenue was $40 million.
Apollo Commerical Finance shares have climbed 15% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $9.99, an increase of 12% in the last 12 months.
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