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Companies / Financials / Apollo Commercial Real Estate Finance, Inc.
ARI

Apollo Commercial Real Estate Finance, Inc.

Ticker ARINEW YORK, NYFiscal year ends DecemberBook value per share $9.25Diluted shares 135.6M

Apollo Commercial Real Estate Finance, Inc. (NYSE: ARI) is a real estate investment trust that originates, acquires, invests in and manages performing commercial first mortgage loans, subordinate financings and other commercial real estate-related debt investments. Its investments are secured by institutional-quality… From the company’s description.

Over the twelve months to Jun 30, 2026, Apollo Commercial Real Estate Finance, Inc. reported revenue of $237.89M, down 14.7% from a year earlier, and net income of $132.00M. Operations generated $86.46M in cash. In fiscal 2025, it reported revenue of $271.59M, down 10.6% from fiscal 2024, and net income of $126.72M.

Fiscal year 2025 · ends 12-31Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-06-30
Sales & profitability
$271.59MFY2025
−10.6% year over year
Last 12 mo $237.89M
0.00%FY2025
$126.72MFY2025
+205.9% year over year
Last 12 mo $132.00M
6.83%FY2025
+13.2 percentage points
Last 12 mo 10.52%
Cash & financing
$142.52MFY2025
−28.8% year over year
Last 12 mo $86.46M
$42.31MFY2025
+37.6% year over year
Last 12 mo $21.41M
4.04FY2025
Was 3.24× a year earlier
Last 12 mo 0.00
138.9MFY2025
−0.6% year over year
Last 12 mo 135.6M

Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.

What Apollo Commercial Real Estate Finance, Inc. does

In the company’s own words

Apollo Commercial Real Estate Finance, Inc. (NYSE: ARI) is a real estate investment trust that originates, acquires, invests in and manages performing commercial first mortgage loans, subordinate financings and other commercial real estate-related debt investments. Its investments are secured by institutional-quality properties across the United States and Europe, and it is externally managed by an Apollo affiliate. The company operates as a single investment business, with no reportable segments described. At December 31, 2025, its portfolio included approximately $8.7 billion of commercial mortgage loans and $62.2 million of subordinate loans and other lending assets; it also held $842.9 million of real estate assets. Founded in 2009, the company entered into an agreement in January 2026 for an Apollo subsidiary, Athene, to purchase substantially all of its commercial real estate loan portfolio, subject to closing conditions. Its website is www.apollocref.com.

Company details
Sector
Financials
Industry (SIC)
REITs
Headquarters
NEW YORK, NY
Fiscal year end
December
CIK
1467760
SIC
6798

Financial performance, year by year

Fiscal 2011–2025 · USD
$-166.06M$-26.79M$112.48M$251.75M$391.01M201120122013201420152016201720182019202020212022202320242025Last 12 moLast 12 monthsLast 12 months

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns Apollo Commercial Real Estate Finance, Inc. — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

175
funds hold it
0 of 35
superinvestors hold it
$372.39M
held by funds, at market
26.9%
of shares held by funds
1
bond issues held by funds

Largest fund holders · Apollo Commercial Real Estate Finance, Inc.’s weight in each

VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.00%of fund net assets
iShares Russell 2000 ETF
IWM · iShares Trust
0.05%of fund net assets
VANGUARD SMALL-CAP INDEX FUND
VB · VANGUARD INDEX FUNDS
0.02%of fund net assets
VANGUARD SMALL-CAP VALUE INDEX FUND
VBR · VANGUARD INDEX FUNDS
0.03%of fund net assets
3.00%of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

Apollo Commercial Real Estate Finance, Inc.’s bonds, as funds hold them

Funds report holding 1 issues of Apollo Commercial Real Estate Finance, Inc.’s debt, $87.65M at market value — what funds hold, not the company’s total debt. Weighted-average coupon 4.63%, maturing 2029 to 2029.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

Connected research

Put this business in context.

Compare this company with peers, find it in your funds and follow its financial history with your connected AI:

  • “How do Apollo Commercial Real Estate Finance, Inc. and its peers compare on margins and cash generation over ten years?”
  • “Where did five years of Apollo Commercial Real Estate Finance, Inc.'s earnings go — cash, debt, buybacks, reinvestment?”
  • “What changed in Apollo Commercial Real Estate Finance, Inc.'s last four quarterly filings that the numbers alone won't show?”
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