ARI Apollo Commercial Real Estate Finance, Inc
NYSE · Real Estate · View on SEC EDGAR ↗ close Oct 2, 2026 10-K/10-Q Aug 10, 2026
$6.20
· of 52w range
· above low
· to high
$6.1352w low
$11.2452w high
Market Cap (MRQ)
$795M
P/E (TTM)
7.8
EPS (TTM)
$0.80
Revenue (TTM)
$238M
your badges
52W Range
$6–$11
Analyst Rating
BUY
Price Target
$8
P/E
7.8
ROE
8.5%
Net Profit Margin
55.5%
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ARI Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$6.20
Market Cap (MRQ)
$795M
P/E (TTM)
7.8
EPS (TTM)
$0.80
Revenue (TTM)
$238M
ROE (TTM)
8.5%
52W Range
$6–$11
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue$272M2019-12-31 → 2025-12-31
EPS$0.812016-12-31 → 2025-12-31
Net margin55.5%2016-12-31 → 2024-12-31
Valuation & Ratios
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
| Metric | 5Y trend | ARI | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| P/E (TTM) | 7.85Y avg ≈11.8 | ≈11.8 | 12.7 | Overvalued | |
| P/S (TTM) | 3.35Y avg ≈5.1 | ≈5.1 | 7.6 | Undervalued | |
| P/B (MRQ) | 0.65Y avg ≈0.7 | ≈0.7 | 0.8 | Overvalued | |
| Price / Tangible Book | 0.75Y avg ≈0.7 | ≈0.7 | · | · | |
| PEG Ratio | ≈0.1 | · | · | · |
Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.
Profitability Gross, operating and net margins; ROE, ROA, ROIC
| Metric | 5Y trend | ARI | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Pretax Margin (TTM) | 55.6% | · | 52.5% | In line | |
| Net Profit Margin (TTM) | 55.5%5Y avg ≈35.8% | ≈35.8% | 64.5% | Weak | |
| ROA (TTM) | 2.2%5Y avg ≈1.3% | ≈1.3% | 1.4% | In line | |
| ROE (TTM) | 8.5%5Y avg ≈4.3% | ≈4.3% | 8.3% | Below avg |
Financial Health Debt, liquidity, solvency — balance sheet strength
No data for this ratio group yet
Not enough fundamentals data to compute this ratio group yet.
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
| Metric | 5Y trend | ARI | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Revenue YoY | -10.6%5Y avg ≈-0.03% | ≈-0.03% | · | · | |
| Revenue CAGR 3Y | -3.6%5Y avg ≈2.0% | ≈2.0% | · | · | |
| Revenue CAGR 5Y | -0.51% | · | · | · | |
| EPS YoY | -82.7%5Y avg ≈4810.8% | ≈4810.8% | · | · | |
| Net Income YoY | -78.1%5Y avg ≈352.3% | ≈352.3% | · | · | |
| EPS CAGR 3Y | -21.6% | · | · | · | |
| EPS CAGR 5Y | 140.8% | · | · | · | |
| Net Income CAGR 3Y | -21.8% | · | · | · | |
| Net Income CAGR 5Y | 47.1% | · | · | · |
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
No data for this ratio group yet
Not enough fundamentals data to compute this ratio group yet.
value · ≈ 5Y avg · industry median · verdict relative to median
Dividends Yield, payout ratio, dividend history, 5Y CAGR
Annualized Payout≈$15.00
5Y Div CAGR≈-6.5%
| Ex-date | Amount | Currency | Yield |
|---|---|---|---|
| Jul 16, 2026 | $3.75 | USD | ≈64.1% |
| Mar 31, 2026 | $0.25 | USD | ≈9.5% |
| Dec 31, 2025 | $0.25 | USD | ≈10.3% |
| Sep 30, 2025 | $0.25 | USD | ≈9.9% |
| Jun 30, 2025 | $0.25 | USD | ≈10.3% |
| Mar 31, 2025 | $0.25 | USD | ≈11.5% |
| Dec 31, 2024 | $0.25 | USD | ≈13.9% |
| Sep 30, 2024 | $0.25 | USD | ≈14.1% |
| Jun 28, 2024 | $0.35 | USD | ≈14.3% |
| Mar 27, 2024 | $0.35 | USD | ≈12.8% |
| Dec 28, 2023 | $0.35 | USD | ≈11.6% |
| Sep 28, 2023 | $0.35 | USD | ≈13.7% |
| Jun 29, 2023 | $0.35 | USD | ≈12.4% |
| Mar 30, 2023 | $0.35 | USD | ≈15.4% |
| Dec 29, 2022 | $0.35 | USD | ≈12.9% |
| Sep 29, 2022 | $0.35 | USD | ≈16.7% |
| Jun 29, 2022 | $0.35 | USD | ≈13.6% |
| Mar 30, 2022 | $0.35 | USD | ≈10.1% |
| Dec 30, 2021 | $0.35 | USD | ≈10.7% |
| Sep 29, 2021 | $0.35 | USD | ≈9.3% |
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
-94.5%
Next Report
Oct 28, 2026
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| June 30, 2026 | Aug 13, 2026 | $-2.62 | $-0.37 | -608.7% |
| March 31, 2026 | $0.22 | $0.28 | -20.1% | |
| Dec. 31, 2025 | $0.26 | $0.24 | 6.4% | |
| Sept. 30, 2025 | $0.30 | $0.22 | 38.8% | |
| June 30, 2025 | $0.26 | $0.25 | 4.6% | |
| March 31, 2025 | $0.24 | $0.21 | 12.1% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $272M | $304M | $345M | $304M | $285M | $279M | $334M | |
| SG&A Expense | $27M | $30M | $30M | $30M | $29M | $27M | $24M | |
| Operating Expenses | $158M | $159M | $149M | $121M | $90M | $67M | $65M | |
| Interest Expense | · | · | $466M | $271M | $163M | $149M | $153M | |
| Interest Income | · | · | · | $6M | · | · | · | |
| Pretax Income | $127M | $-119M | $59M | $265M | $224M | · | · | |
| Income Tax | $331.0K | $394.0K | $442.0K | $0 | $0 | · | · | |
| Net Income | $127M | $-120M | $58M | $265M | $224M | $18M | $230M | |
| EPS (Basic) | $0.81 | $-0.97 | $0.29 | $1.77 | $1.48 | $0.01 | $1.41 | |
| EPS (Diluted) | $0.81 | $-0.97 | $0.29 | $1.68 | $1.46 | $0.01 | $1.40 | |
| Shares (Basic) | 138,868,602 | 139,674,140 | 141,281,286 | 140,534,635 | 139,869,244 | 148,004,385 | 146,881,231 | |
| Shares (Diluted) | 138,868,602 | 139,674,140 | 141,281,286 | 165,504,660 | 168,402,515 | 148,004,385 | 175,794,896 | |
| EBITDA | · | $12M | $8M | $704.0K | $3M | · | · |
Balance Sheet
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $140M | $317M | $225M | $222M | $343M | $325M | $452M | |
| Total Assets | $9.90B | $8.41B | $9.30B | $9.57B | $8.42B | $6.94B | $6.89B | |
| Total Liabilities | $8.04B | $6.54B | $7.09B | $7.21B | $6.12B | $4.67B | $4.26B | |
| Common Stock | $1M | $1M | $1M | $1M | $1M | $1M | $2M | |
| Retained Earnings | $-850M | $-823M | $-520M | $-364M | $-428M | $-439M | $-197M | |
| Stockholders' Equity | $1.86B | $1.87B | $2.21B | $2.35B | $2.29B | $2.27B | $2.63B | |
| Liabilities + Equity | $9.90B | $8.41B | $9.30B | $9.57B | $8.42B | $6.94B | $6.89B | |
| Shares Outstanding | 138,943,831 | 138,174,636 | 141,358,605 | 140,595,995 | 139,894,060 | 139,295,867 | 153,537,296 |
Cash Flow
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| D&A | $11M | $12M | $8M | $704.0K | $3M | $0 | $0 | |
| Stock-based Comp | $14M | $16M | $17M | $18M | $18M | $17M | $16M | |
| Other Non-cash | · | $292M | $190M | $-16M | $-44M | · | · | |
| Operating Cash Flow | $143M | $200M | $274M | $268M | $199M | $164M | $273M | |
| Investing Cash Flow | $-1.39B | $577M | $68M | $-1.34B | $-1.36B | $-216M | $-1.44B | |
| Stock Issued | · | · | · | · | $0 | $0 | $315M | |
| Stock Repurchased | $0 | $41M | $0 | $0 | $0 | $128M | $0 | |
| Net Stock Activity | · | $-41M | · | $0 | $0 | $-128M | $315M | |
| Dividends Paid | $141M | $186M | $202M | $201M | $200M | $238M | $269M | |
| Financing Cash Flow | $1.06B | $-689M | $-343M | $958M | $1.18B | $-75M | $1.50B | |
| Net Change in Cash | · | · | · | $-119M | $18M | $-127M | $342M |
Profitability
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Net Margin | · | -39.4% | 16.9% | 87.4% | 78.6% | 6.6% | 68.8% | |
| Pretax Margin | · | -39.3% | 17.0% | · | · | · | · | |
| EBITDA Margin | · | 3.8% | 2.4% | 0.23% | 0.93% | · | · | |
| ROA | · | -1.4% | 0.62% | 2.9% | 2.9% | 0.27% | 3.8% | |
| ROE | · | -6.4% | 2.6% | 11.1% | 9.7% | 0.80% | 8.8% |
Efficiency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Asset Turnover | · | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.1 |
Per Share
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Book Value / Share | · | $13.57 | $15.62 | $16.75 | $16.40 | $16.30 | $17.13 | |
| Revenue / Share | · | $2.17 | $2.44 | $1.83 | $1.69 | $1.88 | $1.90 | |
| Cash Flow / Share | · | $1.43 | $1.94 | $1.62 | $1.18 | $1.11 | $1.56 | |
| Cash / Share | · | $2.30 | $1.59 | $1.58 | $2.45 | $2.34 | $2.95 | |
| Dividend / Share | $1.00 | $1.20 | $1.40 | $1.40 | $1.40 | $1.45 | $1.84 | |
| Dividend Paid / Share | · | · | · | · | · | · | $1.84 | |
| EPS (TTM) | $0.81 | $-0.97 | $0.29 | $1.68 | $1.46 | $0.01 | $1.40 |
Growth Rates
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue YoY | -10.6% | -11.9% | 13.5% | 6.7% | 2.1% | · | · | |
| Revenue CAGR 3Y | -3.6% | 2.2% | 7.3% | · | · | · | · | |
| Revenue CAGR 5Y | -0.51% | · | · | · | · | · | · | |
| EPS YoY | · | · | -82.7% | 15.1% | 14500.0% | · | · | |
| EPS CAGR 3Y | -21.6% | · | 207.2% | · | · | · | · | |
| EPS CAGR 5Y | 140.8% | · | · | · | · | · | · | |
| Net Income YoY | · | · | -78.1% | 18.7% | 1116.3% | · | · | |
| Net Income CAGR 3Y | -21.8% | · | 46.8% | · | · | · | · | |
| Net Income CAGR 5Y | 47.1% | · | · | · | · | · | · | |
| Dividends Paid CAGR 5Y | -9.9% | · | · | · | · | · | · |
Valuation (TTM)
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $272M | $304M | $345M | $304M | $285M | $279M | $334M | |
| Net Income TTM | $127M | $-120M | $58M | $265M | $224M | $18M | $230M | |
| Market Cap | · | $1.20B | $1.66B | $1.51B | $1.84B | $1.56B | $2.81B | |
| P/E | 12.0 | -8.9 | 40.5 | 6.4 | 9.0 | 1117.0 | 13.1 | |
| P/S | · | 3.9 | 4.8 | 5.0 | 6.5 | 5.6 | 8.4 | |
| P/B | · | 0.6 | 0.8 | 0.6 | 0.8 | 0.7 | 1.1 | |
| P / Tangible Book | 0.7 | 0.6 | 0.8 | 0.6 | 0.8 | 0.7 | · | |
| P / Cash Flow | · | 6.0 | 6.1 | 5.7 | 9.2 | 9.5 | 10.3 | |
| Dividend Yield | · | 15.5% | 12.2% | 13.3% | 10.8% | 15.3% | 9.6% | |
| Earnings Yield | 8.4% | -11.2% | 2.5% | 15.6% | 11.1% | 0.09% | 7.6% | |
| Payout Ratio | · | -155.4% | 347.5% | 75.6% | 89.3% | 1293.7% | 117.0% | |
| Annual Payout | $141M | $186M | $202M | $201M | $200M | $238M | $269M |
Income Statement
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $44M | $59M | $73M | $62M | $71M | $66M | $70M | $72M | $81M | $81M | $84M | $81M | $92M | $87M | $87M | $76M | |
| SG&A Expense | $6M | $6M | $8M | $7M | $7M | $7M | $7M | $8M | $7M | $7M | $7M | $8M | $7M | $7M | $8M | $7M | |
| Operating Expenses | $37M | $36M | $43M | $38M | $39M | $38M | $38M | $39M | $41M | $41M | $38M | $37M | $39M | $35M | $34M | $30M | |
| Interest Expense | · | · | · | · | · | · | · | · | $128M | $128M | · | $122M | $116M | $105M | · | $72M | |
| Interest Income | · | · | · | · | · | · | · | · | · | · | · | · | · | $5M | · | $2M | |
| Pretax Income | $26M | $26M | $29M | $51M | $21M | $26M | $41M | $-91M | $36M | $-104M | $46M | $47M | $-83M | $49M | $-4M | $183M | |
| Income Tax | $27.0K | $230.0K | $-135.0K | $234.0K | $116.0K | $116.0K | $114.0K | $66.0K | $100.0K | $114.0K | $-75.0K | $517.0K | $0 | $0 | $0 | $0 | |
| Net Income | $26M | $26M | $29M | $51M | $21M | $26M | $41M | $-92M | $36M | $-105M | $47M | $46M | $-83M | $49M | $-4M | $183M | |
| EPS (Basic) | $0.11 | $0.16 | $0.19 | $0.34 | $0.12 | $0.16 | $0.25 | $-0.69 | $0.23 | $-0.76 | $0.29 | $0.30 | $-0.62 | $0.32 | $-0.06 | $1.27 | |
| EPS (Diluted) | $0.11 | $0.16 | $0.19 | $0.34 | $0.12 | $0.16 | $0.25 | $-0.69 | $0.23 | $-0.76 | $0.29 | $0.30 | $-0.62 | $0.32 | $0.03 | $1.13 | |
| Shares (Basic) | 131,022,330 | 139,110,347 | · | 138,943,831 | 138,943,566 | 138,639,004 | · | 138,246,827 | 140,438,676 | 141,869,604 | · | 141,350,428 | 141,341,238 | 141,072,471 | · | 140,594,987 | |
| Shares (Diluted) | 131,597,073 | 139,709,831 | · | 139,667,116 | 139,208,860 | 138,991,818 | · | 138,246,827 | 140,611,532 | 141,869,604 | · | 141,350,428 | 141,341,238 | 155,483,979 | · | 164,350,132 | |
| EBITDA | $5M | $4M | · | $3M | $3M | $2M | · | $2M | $2M | $5M | · | $1M | $2M | $4M | · | $0 |
Balance Sheet
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.24B | $127M | $140M | $246M | $178M | $166M | $317M | $194M | $175M | $161M | · | $308M | $308M | $332M | · | $319M | |
| Total Assets | $2.14B | $10.09B | $9.90B | $9.52B | $9.82B | $8.78B | $8.41B | $9.10B | $9.27B | $9.22B | · | $9.16B | $9.36B | $9.51B | · | $9.82B | |
| Total Liabilities | $881M | $8.28B | $8.04B | $7.66B | $7.97B | $6.92B | $6.54B | $7.23B | $7.28B | $7.18B | · | $6.95B | $7.15B | $7.16B | · | $7.42B | |
| Common Stock | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | · | $1M | $1M | $1M | · | $1M | |
| Retained Earnings | $-1.33B | $-861M | $-850M | $-840M | $-853M | $-835M | $-823M | $-825M | $-695M | $-678M | · | $-513M | $-505M | $-368M | · | $-306M | |
| Stockholders' Equity | $1.25B | $1.81B | $1.86B | $1.86B | $1.85B | $1.86B | $1.87B | $1.87B | $2.00B | $2.05B | $2.21B | $2.21B | $2.21B | $2.35B | $2.35B | $2.41B | |
| Liabilities + Equity | $2.14B | $10.09B | $9.90B | $9.52B | $9.82B | $8.78B | $8.41B | $9.10B | $9.27B | $9.22B | · | $9.16B | $9.36B | $9.51B | · | $9.82B | |
| Shares Outstanding | 128,212,093 | 136,724,839 | 138,943,831 | 138,943,831 | 138,943,831 | 138,871,188 | 138,174,636 | 138,169,164 | 138,438,433 | 142,096,715 | 141,358,605 | 141,353,133 | 141,343,177 | 141,266,039 | 140,595,995 | 140,595,995 |
Cash Flow
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $5M | $4M | $3M | $3M | $3M | $2M | $2M | $2M | $2M | $5M | $1M | $1M | $2M | $4M | $0 | $0 | |
| Stock-based Comp | $3M | $3M | $3M | $3M | $3M | $3M | $4M | $4M | $4M | $4M | $4M | $4M | $4M | $4M | $5M | $5M | |
| Other Non-cash | · | $-21M | · | · | · | $7M | · | · | · | $149M | · | · | · | $53M | · | · | |
| Operating Cash Flow | $34M | $13M | $8M | $32M | $63M | $39M | $50M | $47M | $50M | $53M | $31M | $83M | $49M | $110M | $43M | $126M | |
| Investing Cash Flow | $9.13B | $-227M | $-446M | $314M | $-798M | $-458M | $586M | $206M | $-49M | $-167M | $-157M | $115M | $23M | $87M | $184M | $-189M | |
| Stock Repurchased | $93M | $30M | $0 | $0 | $0 | $0 | $1.0K | $3M | · | · | $0 | $0 | · | · | · | · | |
| Net Stock Activity | · | $-30M | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Dividends Paid | $35M | $36M | $36M | $35M | $35M | $35M | $35M | $49M | $51M | $51M | $50M | $50M | $50M | $51M | $50M | $50M | |
| Financing Cash Flow | $-8.05B | $201M | $333M | $-279M | $744M | $266M | $-513M | $-235M | $11M | $48M | $43M | $-198M | $-95M | $-93M | $-326M | $147M | |
| Net Change in Cash | · | · | · | · | · | · | · | · | · | · | · | · | $-26M | $110M | · | $84M |
Profitability
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Margin | 58.1% | 44.7% | · | 82.4% | 29.2% | 39.5% | · | -127.9% | 44.1% | -129.8% | · | 56.8% | -90.5% | 56.1% | · | 239.9% | |
| Pretax Margin | 58.1% | 45.1% | · | 82.8% | 29.4% | 39.7% | · | -127.8% | 44.2% | -129.7% | · | 57.4% | · | · | · | · | |
| EBITDA Margin | 10.4% | 6.8% | · | 4.5% | 3.6% | 3.7% | · | 3.3% | 2.8% | 5.8% | · | 1.3% | 2.4% | 4.6% | · | 0.00% | |
| ROA | 0.43% | 0.28% | · | 0.55% | 0.22% | 0.29% | · | -1.0% | 0.38% | -1.1% | · | 0.49% | -0.88% | 0.53% | · | 2.1% | |
| ROE | 1.7% | 1.4% | · | 2.7% | 1.1% | 1.3% | · | -4.5% | 1.7% | -4.8% | · | 2.0% | -3.7% | 2.1% | · | 7.8% |
Efficiency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 |
Per Share
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $9.79 | $13.25 | · | $13.40 | $13.29 | $13.40 | · | $13.52 | $14.43 | $14.41 | · | $15.65 | $15.67 | $16.62 | · | $17.12 | |
| Revenue / Share | $0.34 | $0.42 | · | $0.44 | $0.51 | $0.47 | · | $0.52 | $0.58 | $0.57 | · | $0.57 | $0.65 | $0.56 | · | $0.46 | |
| Cash Flow / Share | · | $0.09 | · | · | · | $0.28 | · | · | · | $0.37 | · | · | · | $0.71 | · | · | |
| Cash / Share | $9.67 | $0.93 | · | $1.77 | $1.28 | $1.20 | · | $1.41 | $1.26 | $1.13 | · | $2.18 | $2.18 | $2.35 | · | $2.27 | |
| Dividend / Share | $3.75 | $0.25 | $0.25 | $0.25 | $0.25 | $0.25 | $0.25 | $0.25 | $0.35 | $0.35 | $0.35 | $0.35 | $0.35 | $0.35 | $0.35 | $0.35 | |
| EPS (TTM) | $0.80 | $0.81 | · | $0.87 | $-0.16 | $-0.05 | · | $-0.93 | $0.06 | $-0.79 | · | $0.03 | $0.86 | $1.92 | · | $1.94 |
Valuation (TTM)
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $238M | $264M | · | $269M | $279M | $289M | · | $317M | $327M | $338M | · | $348M | $343M | $327M | · | $287M | |
| Net Income TTM | $132M | $127M | · | $138M | $-4M | $11M | · | $-114M | $24M | $-95M | · | $8M | $145M | $299M | · | $306M | |
| Market Cap | $1.37B | $1.44B | · | $1.41B | $1.34B | $1.33B | · | $1.27B | $1.36B | $1.58B | · | $1.43B | $1.60B | $1.32B | · | $1.17B | |
| P/E | 13.3 | 13.0 | · | 11.6 | -60.5 | -191.4 | · | -9.9 | 163.2 | -14.1 | · | 337.7 | 13.2 | 4.8 | · | 4.3 | |
| P/S | 5.8 | 5.5 | · | 5.2 | 4.8 | 4.6 | · | 4.0 | 4.1 | 4.7 | · | 4.1 | 4.7 | 4.0 | · | 4.1 | |
| P/B | 1.1 | 0.8 | · | 0.8 | 0.7 | 0.7 | · | 0.7 | 0.7 | 0.8 | · | 0.6 | 0.7 | 0.6 | · | 0.5 | |
| P / Tangible Book | 1.1 | 0.8 | · | 0.8 | 0.7 | 0.7 | · | 0.7 | 0.7 | 0.8 | · | 0.6 | 0.7 | 0.6 | · | 0.5 | |
| P / Cash Flow | · | 114.9 | · | · | · | 33.8 | · | · | · | 30.0 | · | · | · | 11.9 | · | · | |
| Dividend Yield | 10.3% | 9.8% | · | 10.0% | 11.5% | 12.8% | · | 15.8% | 14.9% | 12.8% | · | 14.1% | 12.6% | 15.3% | · | 17.2% | |
| Earnings Yield | 7.5% | 7.7% | · | 8.6% | -1.7% | -0.52% | · | -10.1% | 0.61% | -7.1% | · | 0.30% | 7.6% | 20.6% | · | 23.4% | |
| Payout Ratio | · | 135.7% | · | · | · | 136.3% | · | · | · | -48.6% | · | · | · | 103.5% | · | · | |
| Annual Payout | $141M | $141M | · | $141M | $155M | $171M | · | $201M | $202M | $202M | · | $202M | $201M | $201M | · | $200M |
Most recent period on the left · null values shown as ·
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Revenue | $272M | $304M | $345M | $304M | $285M |
| Net Income | $127M | $-120M | $58M | $265M | $224M |
| Diluted EPS | $0.81 | $-0.97 | $0.29 | $1.68 | $1.46 |
No data for this statement
Not enough fundamentals data to build this statement yet.
No data for this statement
Not enough fundamentals data to build this statement yet.
Institutional owners (13F) 307 filers · $1.0B total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Holders
307
Value held
$1.0B
New positions
64
Exited positions
45
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 64 (+7 vs prior Q) | 45 (+16 vs prior Q) | 77 (-6 vs prior Q) | 87 (+1 vs prior Q) | -3.1M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| VANGUARD GROUP INC | $146,097,162 | 15,092,682 | 14.15% | Shares |
| BlackRock, Inc. | $127,410,644 | 11,929,835 | 12.34% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $65,027,327 | 6,088,701 | 6.30% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $64,352,287 | 6,025,495 | 6.23% | Shares |
| MILLENNIUM MANAGEMENT LLC | $48,742,548 | 4,563,909 | 4.72% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $36,137,460 | 3,383,089 | 3.50% | Shares |
| STATE STREET CORP | $35,585,749 | 3,331,999 | 3.45% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $30,269,843 | 2,834,255 | 2.93% | Shares |
| No Street GP LP | $26,068,812 | 2,440,900 | 2.53% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $21,743,946 | 2,035,950 | 2.11% | Shares |
| Schonfeld Strategic Advisors LLC | $20,474,476 | 1,917,086 | 1.98% | Shares |
| JANE STREET GROUP, LLC | $19,430,444 | 1,819,330 | 1.88% | Shares |
| NORTHERN TRUST CORP | $17,704,514 | 1,657,726 | 1.72% | Shares |
| Qube Research & Technologies Ltd | $17,567,073 | 1,644,857 | 1.70% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $17,247,623 | 1,614,946 | 1.67% | Shares |
| MORGAN STANLEY | $16,733,083 | 1,566,768 | 1.62% | Shares |
| Nuveen, LLC | $13,049,384 | 1,221,853 | 1.26% | Shares |
| GOLDMAN SACHS GROUP INC | $11,985,943 | 1,122,279 | 1.16% | Shares |
| VAN ECK ASSOCIATES CORP | $11,599,751 | 1,086,119 | 1.12% | Shares |
| Alpine Global Management, LLC | $9,633,019 | 901,968 | 0.93% | Shares |
| Empyrean Capital Partners, LP | $9,438,461 | 883,751 | 0.91% | Shares |
| Greenland Capital Management LP | $9,238,200 | 865,000 | 0.90% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $8,915,482 | 834,783 | 0.86% | Shares |
| CITADEL ADVISORS LLC | $8,783,071 | 822,385 | 0.85% | Shares |
| FIRST TRUST ADVISORS LP | $8,371,036 | 783,805 | 0.81% | Shares |
| Apollo Management Holdings, L.P. | $7,108,320 | 665,573 | 0.69% | Shares |
| HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC | $6,880,398 | 644,232 | 0.67% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $6,824,520 | 639,000 | 0.66% | Put option |
| NewGen Asset Management Ltd | $6,806,631 | 637,325 | 0.66% | Shares |
| Bank of New York Mellon Corp | $6,766,874 | 633,602 | 0.66% | Shares |
| Azora Capital LP | $6,727,428 | 629,909 | 0.65% | Shares |
| Brevan Howard Capital Management LP | $6,560,895 | 614,316 | 0.64% | Shares |
| Squarepoint Ops LLC | $5,879,938 | 550,556 | 0.57% | Shares |
| UBS Group AG | $5,855,844 | 548,300 | 0.57% | Call option |
| PEAK6 LLC | $5,771,472 | 540,400 | 0.56% | Put option |
| WELLS FARGO & COMPANY/MN | $5,224,839 | 489,217 | 0.51% | Shares |
| UBS Group AG | $4,981,867 | 466,467 | 0.48% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $4,576,230 | 428,486 | 0.44% | Shares |
| JPMORGAN CHASE & CO | $4,554,224 | 427,430 | 0.44% | Shares |
| Shay Capital LLC | $4,232,238 | 396,277 | 0.41% | Shares |
| Edgestream Partners, L.P. | $4,208,294 | 394,035 | 0.41% | Shares |
| Allianz Asset Management GmbH | $4,150,045 | 388,581 | 0.40% | Shares |
| TWO SIGMA INVESTMENTS, LP | $4,089,628 | 382,924 | 0.40% | Shares |
| XTX Topco Ltd | $3,805,348 | 356,306 | 0.37% | Shares |
| AQR CAPITAL MANAGEMENT LLC | $3,761,076 | 352,161 | 0.36% | Shares |
| BANK OF AMERICA CORP /DE/ | $3,653,799 | 342,116 | 0.35% | Shares |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | $3,615,892 | 342,414 | 0.35% | Shares |
| JANE STREET GROUP, LLC | $3,435,756 | 321,700 | 0.33% | Put option |
| Invesco Ltd. | $3,354,203 | 314,064 | 0.32% | Shares |
| LPL Financial LLC | $3,067,679 | 287,236 | 0.30% | Shares |
Activists & 5%+ owners 11 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | Jan. 30, 2013 | · | Initial filing | · | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | Jan. 18, 2013 | · | Initial filing | · | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | Dec. 20, 2012 | · | Initial filing | · | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | Oct. 22, 2012 | · | Initial filing | · | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | Aug. 24, 2012 | · | Initial filing | · | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | Aug. 13, 2012 | · | Initial filing | · | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | June 19, 2012 | · | Initial filing | · | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | Jan. 3, 2012 | · | Initial filing | · | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | Dec. 9, 2011 | · | Initial filing | · | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | Oct. 27, 2011 | · | Initial filing | · | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | Aug. 8, 2011 | · | Initial filing | Passive investment | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
Company insiders 19 insiders · 4 officers · 16 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Stuart Rothstein | President & CEO | Jan. 30, 2026 F | 277,676 | 0 | 1 | $-529,052 |
| Anastasia G. Mironova | CFO, Treasurer and Secretary | Jan. 30, 2026 F | 75,281 | 0 | 0 | $0 |
| Jai Agarwal | CFO, Treasurer and Secretary | April 27, 2021 S | 27,120 | 0 | 0 | $0 |
| Megan B. Gaul | CFO, Treasurer and Secretary | Jan. 1, 2016 F | 34,558 | 0 | 0 | $0 |
| Michael Salvati | Director | Aug. 25, 2026 S | 162,417 | 0 | 2 | $-6,586 |
| Carmencita N.M. Whonder | Director | May 13, 2026 S | 24,799 | 0 | 1 | $-49,994 |
| Brenna Haysom Romando | Director | April 1, 2026 A | 90,534 | 0 | 0 | $0 |
| Scott Prince | Director | April 1, 2026 A | 60,903 | 0 | 0 | $0 |
| Pamela G Carlton | Director | April 1, 2026 A | 49,274 | 0 | 0 | $0 |
| Robert A Kasdin | Director | April 1, 2026 A | 114,628 | 0 | 0 | $0 |
| Mark C Biderman | Director | April 1, 2026 A | 70,374 | 0 | 0 | $0 |
| Katherine G. Newman | Director | Jan. 27, 2022 F | 6,524 | 0 | 0 | $0 |
| Eric Press | Director | April 27, 2021 S | 213,748 | 0 | 0 | $0 |
| Cindy Z Michel | Director | Jan. 9, 2020 F | 7,823 | 0 | 0 | $0 |
| Jeffrey M Gault | Director | April 1, 2019 A | 42,605 | 0 | 0 | $0 |
| Joseph F Azrack | Director | Aug. 5, 2014 S | 0 | 0 | 0 | $0 |
| Douglas D Abbey | Director | April 1, 2013 A | 19,988 | 0 | 0 | $0 |
| Alice Connell | Director | April 1, 2013 A | 19,988 | 0 | 0 | $0 |
| Marc A Beilinson | Director | Nov. 10, 2010 D | 2,014 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 34 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| SRET · Global X Funds | 2.43% | 854,780 NS | July 31, 2026 | N-PORT |
| SDIV · Global X Funds | 0.63% | 1,145,839 NS | July 31, 2026 | N-PORT |
| HSMV · First Trust Exchange-Traded Fund III | 0.46% | 24,328 NS | July 31, 2026 | N-PORT |
| FYT · First Trust Exchange-Traded AlphaDE… | 0.46% | 134,018 NS | July 31, 2026 | N-PORT |
| DVYE · iShares, Inc. | 0.35% | 391,203 SH | Sept. 11, 2026 | Daily |
| FYX · First Trust Exchange-Traded AlphaDE… | 0.24% | 489,147 NS | July 31, 2026 | N-PORT |
| FAB · First Trust Exchange-Traded AlphaDE… | 0.09% | 22,920 NS | July 31, 2026 | N-PORT |
| VTWV · VANGUARD SCOTTSDALE FUNDS | 0.09% | 118,169 SH | Aug. 19, 2026 | Daily |
| IPKW · Invesco Exchange-Traded Fund Trust … | 0.07% | 39,676 SH | Oct. 1, 2026 | Daily |
| PICK · iShares, Inc. | 0.07% | 158,138 SH | Sept. 11, 2026 | Daily |
| EEMS · iShares, Inc. | 0.07% | 23,664 SH | Sept. 11, 2026 | Daily |
| NUSC · Nushares ETF Trust | 0.06% | 122,016 NS | July 31, 2026 | N-PORT |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.04% | 779,852 SH | Aug. 19, 2026 | Daily |
| BBSC · J.P. Morgan Exchange-Traded Fund Tr… | 0.03% | 32,047 NS | July 31, 2026 | N-PORT |
| VBR · VANGUARD INDEX FUNDS | 0.03% | 1,930,362 SH | Aug. 19, 2026 | Daily |
| VB · VANGUARD INDEX FUNDS | 0.02% | 3,039,001 SH | Aug. 19, 2026 | Daily |
| VFH · VANGUARD WORLD FUND | 0.02% | 209,801 SH | Aug. 19, 2026 | Daily |
| ISCG · iShares Trust | 0.02% | 26,688 SH | Sept. 10, 2026 | Daily |
| VXF · VANGUARD INDEX FUNDS | 0.01% | 1,423,716 SH | Aug. 19, 2026 | Daily |
| VWO · VANGUARD INTERNATIONAL EQUITY INDEX… | 0.01% | 1,444,535 SH | Aug. 19, 2026 | Daily |
| VYMI · VANGUARD WHITEHALL FUNDS | 0.01% | 155,402 SH | Aug. 19, 2026 | Daily |
| FNCL · FIDELITY COVINGTON TRUST | 0.01% | 34,399 NS | July 31, 2026 | N-PORT |
| TILT · FlexShares Trust | 0.01% | 31,442 NS | July 31, 2026 | N-PORT |
| WSML · iShares Trust | 0.01% | 8,710 SH | Sept. 11, 2026 | Daily |
| IEMG · iShares, Inc. | 0.01% | 1,191,016 SH | Sept. 11, 2026 | Daily |
| IXUS · iShares Trust | 0.00% | 241,106 SH | Sept. 11, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 4,194,969 SH | Aug. 19, 2026 | Daily |
| VXUS · VANGUARD STAR FUNDS | 0.00% | 1,539,404 SH | Aug. 19, 2026 | Daily |
| VEU · VANGUARD INTERNATIONAL EQUITY INDEX… | 0.00% | 239,478 SH | Aug. 19, 2026 | Daily |
| VT · VANGUARD INTERNATIONAL EQUITY INDEX… | 0.00% | 363,717 SH | Aug. 19, 2026 | Daily |
| VIOO · VANGUARD ADMIRAL FUNDS | 0.00% | 282 SH | Aug. 19, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 11,234 SH | Aug. 19, 2026 | Daily |
| ISCB · iShares Trust | · | 5,220 SH | Sept. 11, 2026 | Daily |
| ISCV · iShares Trust | · | 10,294 SH | Sept. 11, 2026 | Daily |
ARI Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
rating · 9 analysts
BUY
Median target
$8.00
+29.0%
2 22.2%
Strong Buy
4 44.4%
Buy
3 33.3%
Hold
0 0.0%
Sell
0 0.0%
Strong Sell
12-Month Price Target
2 analysts · 2026-09-30Mean target $8.00 +29.0%
← Below all targets
Current price $6.20
Low$7.75
Mean$8.00
High$8.25
Peer comparison (GICS sub-industry) Key metrics vs sector peers
FY basis, prices as of each company's last fiscal year-end close.
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| ARI | · | 12.0 | -10.6% | · | · | · |
| BXMT | $3.22B | 29.9 | 10.9% | 19.8% | 3.0% | · |
| EFC | $1.54B | 11.4 | 10.1% | 35.3% | 7.0% | · |
| LADR | $1.40B | 21.5 | -32.9% | 69.2% | 4.2% | · |
| ORC | $1.31B | · | 1944.3% | 146.9% | 13.9% | · |
| CIM | · | · | · | · | · | · |
| MFA | $946M | 7.2 | 14.0% | 76.5% | 9.7% | · |
| ADAM | · | · | · | · | · | · |
| PMT | $1.09B | 12.7 | · | -656.4% | 6.8% | · |
| ABR | $1.52B | 13.9 | -18.0% | 30.9% | 5.3% | · |
| IVR | $604M | 6.4 | 104.8% | 134.3% | 13.4% | · |
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Source: SEC 10-Q filed Aug 10, 2026