In a report released yesterday, Tom Catherwood from BTIG maintained a Buy rating on Apollo Real Estate, with a price target of $11.00.
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Tom Catherwood has given his Buy rating due to a combination of factors that highlight Apollo Real Estate’s strong performance and potential for growth. The company has successfully originated $1 billion in new loans for two consecutive quarters, demonstrating its robust lending capabilities. Additionally, Apollo Real Estate has managed to secure nearly $390 million in new commitments in October, indicating a positive trajectory in its business operations.
Moreover, the company has shown resilience with no watchlist downgrades for four consecutive quarters, and its repayment volume of $1.3 billion in the third quarter was the highest since the pandemic. Despite a slight miss in earnings estimates, the company’s book value per share increased, and it has expanded its borrowing capacity through a new secured credit facility and an increased revolver. These factors collectively suggest that Apollo Real Estate is well-positioned for future growth, justifying the Buy rating.
In another report released on October 21, KBW also maintained a Buy rating on the stock with a $11.00 price target.
ARI’s price has also changed slightly for the past six months – from $9.370 to $9.990, which is a 6.62% increase.