Apollo CRE Finance Files Q2 2024 10-Q

TL;DR

**APOLLO CRE FINANCE Q2 10-Q FILED** - Financials for period ending 6/30/24 are in.

AI Summary

Apollo Commercial Real Estate Finance, Inc. filed its 10-Q for the period ending June 30, 2024. The company, operating as a Real Estate Investment Trust, reported on its financial activities. Key details include its fiscal year end of December 31 and its principal business address at 9 West 57th Street, New York, NY.

Why It Matters

This filing provides investors with an update on Apollo Commercial Real Estate Finance's financial performance and operational status for the second quarter of 2024.

Risk Assessment

Risk Level: low — This is a standard quarterly financial filing with no immediate red flags.

Key Numbers

• 1231 — Fiscal Year End (Indicates the end of the company's annual accounting period.)
• 20240806 — Filing Date (Date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• Apollo Commercial Real Estate Finance, Inc. (company) — Filer
• 9 West 57th Street, 43rd Floor (location) — Business and Mail Address
• New York, NY (location) — City, State of Business and Mail Address
• 20240630 (date) — Period of Report

FAQ

Key Financial Figures

• $0.01 — nge on Which Registered Common Stock, $0.01 par value ARI New York Stock Exchan

Filing Documents

• ari-20240630.htm (10-Q) — 4219KB
• ari-ex31_1.htm (EX-31.1) — 14KB
• ari-ex31_2.htm (EX-31.2) — 16KB
• ari-ex32_1.htm (EX-32.1) — 16KB
• 0000950170-24-091841.txt ( ) — 20692KB
• ari-20240630.xsd (EX-101.SCH) — 2444KB
• ari-20240630_htm.xml (XML) — 4483KB

- Financial Information

Part I - Financial Information

Financial Statements

Item 1. Financial Statements 3

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 38

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 58

Controls and Procedures

Item 4. Controls and Procedures. 59

- Other Information

Part II - Other Information

Legal Proceedings

Item 1. Legal Proceedings. 60

Risk Factors

Item 1A. Risk Factors 60

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 60

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 60

Mine Safety Disclosures

Item 4. Mine Safety Disclosures. 60

Other Information

Item 5. Other Information 60

Exhibits

Item 6. Exhibits 61 See notes to unaudited condensed consolidated financial statements. 2

- FINANCIA L INFORMATION

PART I - FINANCIA L INFORMATION

Financial S tatements

Item 1. Financial S tatements Apollo Commercial Real Estate Finance, Inc. and Subsidiaries Condensed Consolidated Balance Sheets (Unaudited) (in thousands—except share data) June 30, 2024 December 31, 2023 Assets: Cash and cash equivalents $ 174,703 $ 225,438 Commercial mortgage loans, net (1)(3) 7,909,125 7,925,359 Subordinate loans, net (2)(3) 384,777 432,734 Real estate owned, held for investment, net (4) (net of $ 18,541 and $ 10,404 accumulated depreciation in 2024 and 2023, respectively) 665,568 519,498 Other assets 90,467 85,623 Derivative assets, net 47,749 29,425 Assets related to real estate owned, held for sale — 78,653 Total Assets $ 9,272,389 $ 9,296,730 Liabilities and Stockholders' Equity Liabilities: Secured debt arrangements, net $ 5,628,925 $ 5,538,476 Senior secured term loans, net 756,673 759,150 Senior secured notes, net 496,033 495,637 Debt related to real estate owned, held for investment, net 235,418 161,562 Accounts payable, accrued expenses and other liabilities (5) 149,113 120,334 Payable to related party 9,179 9,553 Liabilities related to real estate owned, held for sale — 3,285 Total Liabilities 7,275,341 7,087,997 Commitments and Contingencies (see Note 18) Stockholders' Equity: Preferred stock, $ 0.01 par value, 50,000,000 shares authorized, Series B-1, 6,770,393 shares issued and outstanding ($ 169,260 liquidation preference) in 2024 and 2023 (see Note 17) 68 68 Common stock, $ 0.01 par value, 450,000,000 shares authorized, 138,438,433 and 141,358,605 shares issued and outstanding in 2024 and 2023, respectively 1,385 1,414 Additional paid-in-capital 2,690,660 2,727,488 Accumulated deficit ( 695,065 ) ( 520,237 ) Total Stockholders' Equity 1,997,048 2,208,733 Total Liabilities and Stockholders' Equity $ 9,272,389 $ 9,296,730 (1) Includes $ 7,897,660 and $ 7,705,491

View Full Filing

View this 10-Q filing on SEC EDGAR