NEW YORK, April 29, 2024 (GLOBE NEWSWIRE) -- Apollo Commercial Real Estate Finance, Inc. (the "Company" or "ARI") (NYSE:ARI) today reported results for the quarter ended March 31, 2024. Net loss attributable to common stockholders per diluted share of common stock was ($0.76) for the quarter ended March 31, 2024. Distributable Earnings (a non-GAAP financial measure defined below) per share of common stock was $0.35 for the quarter ended March 31, 2024. Commenting on this quarter's results, Stuart Rothstein, Chief Executive Officer and President of the Company said: "ARI recorded an incremental CECL allowance in the first quarter of 2024 of approximately $142 million on a mezzanine loan secured by an ultra-luxury condominium development in New York City due to a reduction in sales price and delayed timing on the remaining units, resulting in a $1.00 decline in book value per share. The allowance did not impact distributable earnings or ARI's ability to pay the dividend per share of common stock, which has remained at $0.35 per share for sixteen consecutive quarters. There were no additional Specific CECL Allowances recorded against any other loans in ARI's portfolio during the quarter." ARI issued a detailed presentation of the Company's quarter ended March 31, 2024 results, which can be viewed at www.apollocref.com. Conference Call and WebcastThe Company will hold a conference call to review first quarter results on April 30, 2024, at 10am ET. To register for the call, please use the following link:       https://register.vevent.com/register/BI6ac2030931b8437da1c4188b5f3b1634 After you register, you will receive a dial-in number and unique pin. The Company will also post a link in the Stockholders' section on ARI's website for a live webcast. For those unable to listen to the live call or webcast, there will be a webcast replay link posted in the Stockholders' section on ARI's website approximately two hours after the call. Distributable Earnings"Distributable Earnings," a non-GAAP financial measure, is defined as net income available to common stockholders, computed in accordance with GAAP, adjusted for (i) equity-based compensation expense (a portion of which may become cash-based upon final vesting and settlement of awards should the holder elect net share settlement to satisfy income tax withholding), (ii) any unrealized gains or losses or other non-cash items (including depreciation and amortization related ...