Apollo Commercial Real Estate Finance, Inc. (NYSE:ARI) Q2 2022 Earnings Conference Call July 27, 2022 9:00 AM ET

Company Participants

Stuart Rothstein – President and Chief Executive Officer

Anastasia Mironova – Chief Financial Officer

Conference Call Participants

Doug Harter – Credit Suisse

Jade Rahmani – KBW

Eric Hagen – BTIG

Steven DeLaney – JMP Securities

Operator

Good day. I’d like to remind everyone that today’s call and webcast are being recorded. Please note that they are the property of Apollo Commercial Real Estate Finance, Inc. and that any unauthorized broadcast in any form is strictly prohibited. Information about the audio replay of this call is available in our earnings press release.

I’d also like to call your attention to the customary Safe Harbor disclosure in our press release regarding forward-looking statements. Today’s conference call and webcast may include forward-looking statements and projections, and we ask that you refer to our most recent filings with the SEC for important factors that could cause actual results to differ materially from these statements and projections.

In addition, we will be discussing certain non-GAAP measures on this call, which management believes are relevant to assessing the Company’s financial performance. These measures are reconciled to GAAP figures in our earnings presentation, which is available in the stockholders section of our website.

We do not undertake any obligation to update our forward-looking statements or projections, unless required by law. To obtain copies of our latest SEC filings, please visit our website at www.apollocref.com or call us at 212-515-3200.

At this time, I’d like to turn the call over to the Company’s Chief Executive Officer, Stuart Rothstein.

Stuart Rothstein

Thank you, operator and good morning, and thank you to those of us joining us today on Apollo Commercial Real Estate Finance, Inc.’s second quarter 2022 earnings call. I am joined today by Anastasia Mironova, our Chief Financial Officer.

The first half of the year was the most active in ARI’s history. As our team completed a record $3.1 billion of new loan originations on behalf of the company. The robust pace of deployment enabled ARI to effectively and efficiently deploy capital, including the $530 million of net equity received from approximately $1.2 billion of gross repayment. Importantly, ARI achieved distributable earnings that covered the $0.35 per share quarterly dividend and is well positioned for the remainder of the year.

While the broader Apollo CRE debt team remained active in the market. We can now be selective with respect to additional deployment on behalf of ARI, while continuing to produce distributable earnings that support the $0.35 per share quarterly common stock dividends.