NEW YORK (AP) — NEW YORK (AP) — Apollo Commercial Real Estate Finance (ARI) on Tuesday reported fourth-quarter earnings of $29.2 million.
The New York-based company said it had profit of 18 cents per share. Earnings, adjusted for non-recurring costs and stock option expense, were 26 cents per share.
The real estate investment trust posted revenue of $73.3 million in the period. Its adjusted revenue was $44.1 million.
For the year, the company reported net income of $126.7 million, or 81 cents per share, swinging to a profit in the period. Revenue was reported as $166.7 million.
Apollo Commerical Finance shares have climbed 11% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $10.71, an increase of 18% in the last 12 months.
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