ARI vs REFI
ARI: A REIT that originates and acquires performing commercial mortgage loans and real estate debt investments, externally managed by Apollo Global Management's real estate platform. REFI: A mortgage REIT that originates and invests in first-lien commercial real estate loans, generating income through interest and origination fees while maintaining a diversified portfolio of non-agency mortgages.
Side-by-side fundamentals
| Metric | ARI | REFI | Edge |
|---|---|---|---|
| Price as of 2026-07-22 close | $6.78 | $10.17 | |
| Market cap as of 2026-07-23 | $888M | $217M | |
| P/E as of 2026-07-23 | 7.00 | 7.04 | ARI lower |
| Net margin as of 2026-07-23 | +17.3% | +48.9% | REFI higher |
| Gross margin as of 2026-07-23 | +36.0% | +88.0% | REFI higher |
| Operating margin as of 2026-07-23 | +14.8% | +48.9% | REFI higher |
| ROE as of 2026-07-23 | +6.9% | +10.0% | REFI higher |
| ROA as of 2026-07-23 | +1.3% | +7.1% | REFI higher |
| Debt / equity as of 2026-07-23 | 4.50 | 0.38 | REFI lower |
| Revenue growth (YoY) as of 2026-07-23 | -4.8% | +2.0% | REFI higher |
| Revenue CAGR (3y) SEC XBRL | -3.7% | n/a | |
| Dividend yield as of 2026-07-23 | +14.5% | +18.1% | REFI higher |
| Dividend streak (yrs) SEC XBRL | 1 | 1 | Tie |
| Beta as of 2026-07-23 | 1.46 | 0.33 | |
| 1-year return as of 2026-07-22 close | -30.4% | -22.0% | REFI higher |
Fundamentals: Finnhub, as of 2026-07-23. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-07-22.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & Finnhub, shown with their as-of date; "Edge" cells are a pure numeric comparison, not a recommendation.