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at MarketWatch.com (Nov 12, 2012)
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Business Wire (Nov 5, 2012)
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at CNBC.com (Jun 20, 2011)
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at MarketWatch.com (Mar 30, 2011)
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at MarketWatch.com (Mar 29, 2011)
CXS vs. ETF Alternatives
Company Description
We are a specialty finance company that acquires, manages, and finances, directly or through our subsidiaries, commercial mortgage loans and other commercial real estate debt, commercial mortgage-backed securities, or CMBS, and other commercial real estate-related assets. We expect that the... More
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- | Earnings
- | Dividends
- | M&A
- | On the move
- Monday, November 12, 2012, 12:45 PM Midday top 10 gainers: TIE +42%. STV +32%. MYRX +18%. CPSS +17%. PZZI +15%. SRPT +13%. EVI +13%. JEF +12%. GILD +12%. CXS +12%. Midday top 10 Losers: CLVS -33%. GALE -33%. STSI -23%. RECV -17%. BZH -15%. ET -14%. XIDE -13%. NKTR -12%. MEET -12%. IDN -11%. Comment!
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Monday, November 12, 2012, 9:10 AM
Premarket gainers: TIE +43%. JEF +24%. MYRX +17%. CXS +15%. GILD +12%. CELG +10%. SVNT +7%. SQNM +7%. LUK +7%. RIMM +6%. NKTR +6%. STV +5%. DNDN +5%. CEL +5%. PCP +5%.
Losers: CLVS -41%. STSI -20%. NBG -11%. Comment! [On the Move] - Monday, November 12, 2012, 7:02 AM Annaly's (NLY) bid for the rest of CreXus (CXS) - a player in the CMBS market - shows the company is not going to sit on its hands as the Fed's QE obliterates returns in the Agency MBS sector. "We may allocate up to 25% of our shareholders equity to real estate assets other than Agency MBS," says Annaly CEO Wellington Denehan. CXS +12.6% premarket. 6 Comments [Financials, M&A]
- Monday, November 12, 2012, 6:53 AM Annaly Capital (NLY) announces a $12.50 bid to acquire all of the shares of CreXus Investment (CXS) it does not already own. The price represents about a 5% premium to CreXus' Sept. 30 reported book value and a 12.6% premium to Friday's close. Annaly currently owns about 12.4% of the company. (PR) 1 Comment [Financials, M&A]
- Wednesday, November 7, 2012, 9:40 AM It's a jittery mortgage REIT sector as last night's election assures the Fed will continue to strangle the leveraged operators' net interest margins. Annaly (NLY -2.8%) - the purest of the pure-play agency REITs - still reeling from Monday's poor earnings, leads to the downside. AGNC -2%, TWO -2.3%, HTS -2.1%. 27 Comments [Financials, On the Move]
- Monday, November 5, 2012, 5:52 PM CreXus Investment (CXS): Q3 EPS of $0.30. Last quarter's dividend was $0.32. Book value/share of $11.93 vs. $11.96 in Q2, $11.96 a year ago. Weighted-average yield on CMBS of 10.29% vs. 11.27% in Q2, 16.8% a year ago. Yield on commercial real estate portfolio of 9.44% vs. 9.50% in Q2 (no real estate a year ago). Size of paper portfolio is $731.8M vs. physical portfolio of $78.7M. (PR) Comment! [Financials, Earnings]
- Wednesday, October 24, 2012, 11:12 AM "Gorilla in the room," indeed. From TCW are the ridiculous supply/demand dynamics of the MBS market thanks to the Fed's planned $480B/year in purchases. Maybe it really is time for the mortgage REITs to deleverage and take a vacation. 22 Comments [U.S. Economy, Financials]
- Wednesday, October 24, 2012, 10:40 AM Noted with hope in the Hatteras earnings call is this morning's 13% plunge in mortgage refinance activity (though the Columbus Day holiday may be behind this). Along with narrowing margins, prepayments are a major concern for mortgage REITs, and the tumbling sector will take the good news where it can get it. 3 Comments [Financials]
- Tuesday, October 16, 2012, 10:49 AM "Rates go down you get killed, rates go up you get killed," says hedge fund manager Brad Golding, summing up the situation for mortgage REITs. The days of double-digit yields are over - at least at Annaly (NLY) - where new co-CEO Wellington Denahan-Norris calls it "fantasy" to think the company can just jack up leverage to replicate the returns of the past. 68 Comments [Financials]
- Monday, October 15, 2012, 10:03 AM Liquidation in mortgage REITs picks up where it left off on Friday, with nearly the entire sector lit up bright red. Leading today's decline is CYS Investments (CYS -4.6%) after being cut to hold at Wunderlich. No details are available, but presumably the analysts there read the papers: interest margins are declining and mortgage refinance activity (prepays) is on the rise. 48 Comments [Financials]
- Friday, October 12, 2012, 2:44 PM Mortgage REITs continue to get repriced for lower yields going forward with earnings reports from JPMorgan and Wells Fargo not bringing good news. Both banks reported sliding net interest margins and booming mortgage business (some, if not most of which is refinancing) - an ugly combination for leveraged owners of MBS. 66 Comments
- Wednesday, October 10, 2012, 4:06 PM "Our goose is cooked," writes a mortgage trader, imagining a conversation at the trading desk of a pure GSE mREIT like Annaly (NLY). With MBS prices bid to all-time highs (thank you Fed) and refinances on the way up, mREITs face an ugly combination of lower yields and higher prepays. One solution: Unload their MBS at these high prices - tell the staff to take a long vacation - and wait for Bernanke to exit. 68 Comments [Financials]
- Wednesday, October 10, 2012, 9:46 AM Mortgage REITs continue to slide - NLY -1%, AGNC -2%, HTS -2.3%, to name 3 - the sector revaluing itself for what must surely be significant dividend cuts. The Fed's MBS purchases - likely to help book values and dividend maintenance in the short run - are vaporizing net interest margins. Absent a big jump in leverage, returns must fall. 58 Comments [Financials, On the Move]
- Wednesday, October 3, 2012, 3:56 PM Mortgage prepayment rates jump to their highest level since 2005 as homeowners take advantage of record-low rates (and federal assistance) to refinance. At the rate seen in August, 25% of current debt would be erased in a year, according to LPS. Not surprisingly, the mREIT sector - taking it on the chin for the past few days - is lit up bright red again today. 28 Comments [U.S. Economy, Financials]
- Friday, September 21, 2012, 10:04 AM The mortgage REIT sector is lit up green following Western Asset Mortgage's (WMC +7.3%) big dividend increase last night and the upping of its book value by 12% since June 30. That jump in book value could have investors wondering what other mREITs might be harboring such good news. 26 Comments [Financials]
- Wednesday, September 19, 2012, 4:35 PM CreXus Investment (CXS) declares $0.32/share quarterly dividend, 15.6% increase from prior dividend of $0.27. Forward yield 12.09%. For shareholders of record Oct 01. Payable Oct 25. Ex-div date Sep 27. (PR) Comment! [Dividends]
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bigdividendsonly
CXS add with RNF profits at 10.81 on days current low.Great dividend a textbook buy. Bettering fundemantals + an 11.5% yield. Easy to hold - View all 7 replies
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bigdividendsonly: gtc orders are great ! You never know wheb bots attack a stock and viola..A bargain appears out of nowhere........If there not hit they die
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Joseph P. Porter: Have already placed my order - good to go. Thanks for bringing it up!
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Joseph P. Porter: Sorry, Joe - this thread hasn't been touched in almost 5 months. No longer into mREITs, Check with a more current thread.
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Joseph P. Porter: my stop was hit this A.M. NLY punted. It is easier to let the bank pull the plug than to have to sit and make the sell decision myself.
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