AINV - Apollo Investment fiscal Q4 net investment declines from Q3; NAV rises 1.9%

Apollo Investment (AINV) fiscal Q4 net investment income per share of 39 cents misses the average analyst estimate of 42 cents and declined from 43 cents reported in the prior quarter.Net asset value per share of $15.88 at March 31 increased 1.9% from $15.59 at Dec. 31, 2020, driven primarily by net appreciation across the investment portfolio.For the quarter ended March 31, 2021, the company reported new investment commitments of $106M.Gross fundings during the quarter totaled $216M, including $112M of term loans and $100M of revolvers.Gross exits amounted to $269M, including $173M of term loan repayments and $96M of gross revolver paydowns.Net leverage at the end of the quarter was 1.36x vs. 1.43x at Dec. 31, 2020.Since the end of the quarter, net investment commitments made were $193M, gross fundings were $157M, and gross exits were $149M.Conference call at 5:00 PM ET.Previously (May 20): Apollo Investment NII misses by $0.03, misses

For further details see:

Apollo Investment fiscal Q4 net investment declines from Q3; NAV rises 1.9%