Apollo Commercial Real Estate Finance Completes Loan Portfolio Sale, Shifts Balance Sheet to Cash and REO Assets
Apollo Commercial Real Estate Finance (ARI) completed the sale of its $9 billion loan portfolio to Athene, resulting in a balance sheet shift to $1.3 billion in cash and four REO assets valued at $900 million. The company also announced a new $150 million share buyback program and reaffirmed its 8% annualized dividend target, with a focus on return of capital.
Tickers: $ARI
Topics: Dividend Policy Earnings Call Portfolio Sale Share Buyback Strategic Review