Is Apollo Global Management (APO) Undervalued As It Backs A $2b Apartment Venture?

Apollo Global Management (APO) has agreed to invest US$1.34 billion in a new joint venture with UDR, supporting a US$2.0 billion portfolio of 19 apartment communities totaling 7,059 rental homes. Apollo Global Management’s joint venture announcement lands after a choppy spell for the stock, with the share price down 21.68% year to date and 7.51% over 30 days, while the 3-year total shareholder return of 48.44% points to stronger longer run momentum. See how Apollo Global Management’s latest...