Apollo Expands Multi-Billion Partnership With Mubadala For Global Growth: Details
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 11 2024
0mins
Should l Buy APO?
Source: Benzinga
Partnership Extension: Apollo Global Management has extended its multi-billion-dollar partnership with Mubadala Investment Company, enhancing its Capital Solutions business and aiming to reach $275 billion in annual origination volumes over the next five years.
Financial Performance: Apollo reported strong third-quarter earnings, with adjusted EPS of $1.85 exceeding estimates, and revenue of $7.77 billion surpassing expectations, while its shares rose 3.33% to $167.39.
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Analyst Views on APO
Wall Street analysts forecast APO stock price to rise
11 Analyst Rating
10 Buy
1 Hold
0 Sell
Strong Buy
Current: 125.370
Low
136.00
Averages
164.45
High
182.00
Current: 125.370
Low
136.00
Averages
164.45
High
182.00
About APO
Apollo Global Management, Inc. is a global alternative asset manager and a retirement services provider. It operates through three segments: Asset Management, Retirement Services and Principal Investing. The Asset Management segment focuses on three investing strategies: yield, hybrid, and equity. These strategies reflect the range of investment capabilities across its platform based on relative risk and return. The Retirement Services business is conducted by Athene Holding Ltd (Athene), a financial services company that specializes in issuing, reinsuring, and acquiring retirement savings products designed for the increasing number of individuals and institutions seeking to fund retirement needs. Athene product lines include annuities and funding agreements. The Principal Investing segment includes realized performance fee income, realized investment income from its balance sheet investments, and certain allocable expenses related to corporate functions supporting the entire company.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Operational Transition: Schulte Hospitality Group will take over operations of Sotherly's 10 full-service hotels and a condo-hotel management agreement, enhancing its influence in high-end hotel management and aligning management efforts through co-investment with the investor group.
- Market Potential: Sotherly owns 2,786 hotel rooms across ten full-service hotels in seven states, and the acquisition will significantly bolster KWHP and Ascendant's high-quality hospitality portfolio in the Southeast, catering to the growing travel demand.
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- Management Transition: Schulte Hospitality Group will assume operations of Sotherly's 10 full-service hotels and its single condo-hotel management agreement, leveraging its extensive industry experience to enhance guest experiences and drive business growth.
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