Apollo Commercial Real Estate Finance, Inc. (ARI) reported net income attributable to common stockholders of $0.16 per diluted share for the first quarter ended March 31, 2025. Distributable Earnings per diluted share for the quarter were $0.24.
Stuart Rothstein, CEO and President, stated that the first quarter earnings reflect the impact of elevated repayments at the end of the fourth quarter of 2024 and the timing of the company's first quarter capital deployment. ARI committed $650 million to new loans during the quarter, with a weighted-average unlevered all-in yield of 8.5% and a weighted-average loan-to-value of 56%.
The company's loan portfolio stood at a carrying value of $7.7 billion across 48 loans as of March 31, 2025, with 95% in first mortgages. The weighted-average unlevered all-in yield on the portfolio was 7.9%, and the weighted-average risk rating remained at 3.0.
ARI continues to make progress with its focus assets, including the Ultra-Luxury Condo Building in New York, where the third-party senior mortgage is expected to be repaid by mid-2025. The company aims to redeploy capital from these resolutions into newly originated loans. No realized losses were recorded in the consolidated statement of operations during the first quarter of 2025.
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