Apollo Commercial Real Estate Finance shares jumped 1.6%, or 27 cents, to $17.16, in late-afternoon trading after FBR Capital upgraded the REIT's shares to outperform, from market perform.
The equity research firm cited Apollo's recent success getting attractive returns on its loan portfolio. The stock is trading at a 10% discount, according to FBR.
Apollo recently grew quarterly earnings by nearly 40% year-over-year, and the REIT raised its quarterly dividend by 14.3% to 40 cents per share, from 35 cents per share. The dividend will be payable Oct. 12 to shareholders of record on Sept. 30.>>20 Dividend Stocks Increasing Payouts -- Written by Miriam Marcus Reimer in New York.
>To contact the writer of this article, click here: Miriam Reimer. >To follow the writer on Twitter, go to http://twitter.com/miriamsmarket. >To submit a news tip, send an email to: firstname.lastname@example.org.
>>See our new stock quote page. Get more stock ideas and investing advice on our sister site, Stockpickr.com.