NEW YORK (AP) — NEW YORK (AP) — Apollo Commercial Real Estate Finance (ARI) on Tuesday reported first-quarter net income of $26.2 million.
The New York-based company said it had net income of 17 cents per share. Earnings, adjusted for non-recurring costs and stock option expense, were 22 cents per share.
The real estate investment trust posted revenue of $58.6 million in the period. Its adjusted revenue was $36.1 million.
Apollo Commerical Finance shares have risen 14% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $11.06, a climb of 18% in the last 12 months.
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