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Apollo Commercial Gains on Upgrade

Apollo Commercial Real Estate Finance gains as equity research firm FBR Capital upgrades its rating on the real estate investment trust's stock.



) -- Shares of

Apollo Commercial Real Estate Finance

(ARI) - Get Apollo Commercial Real Estate Finance, Inc. Report

gained Monday after the real estate investment trust's stock was upgraded.

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.

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